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Trifecta Stocks

Adding to Sherwin-Williams and Whirlpool

By Chris Versace and Bob Lang | 08/23/16 - 12:09 PM EDT
Actions Taken:
Symbol Action # Shares Traded Recent Price Shares Owned After Trade % of Portfolio After Trade
SHW Buy 13 $291.35 47 4.05%
WHR Buy 18 $186.7 73 4.03%

After you receive this Alert, we will be making the following additions to the Trifecta portfolio:

-- Buying 13 shares of Sherwin-Williams (SHW:NYSE) at or near $291.35. After the trade, Trifecta will hold 47 shares, or roughly 4.05% of the overall portfolio.

-- Buying 18 shares of Whirlpool (WHR:NYSE) at or near $186.70. After the trade, Trifecta will hold 73 shares, or roughly 4.03% of the overall portfolio.

We are adding these shares on the heels of the better-than-expected July New Homes Sales report, which rose 12.4% month over month and more than 31% year over year, to 654,000 homes on a seasonally adjusted annual rate. The results marked the strongest month since October 2007 and are a positive sign for our One-rated positions in Sherwin-Williams and Whirlpool. When we consider that new home sales are reported when a contract is signed, it means more painting and appliances will be needed in the coming months.

Tomorrow we’ll get the July Existing Home Sales report, which is expected to come in at around 5.5 million units on a seasonally adjusted annual rate. Much like New Home Sales, we see Existing Home Sales as an indicator of remodeling activity as new owners take over the dwelling, be it a single-family home, condominium or co-op.

As we discussed when we initiated our SHW and WHR positions, we are bullish on prospects for the repair and remodeling market. Given the low levels of available housing inventory and the trend over the last several quarters in housing prices, we continue to see homeowners updating and investing in their homes to drive values higher.

Adding to our conviction, yesterday John Burns Real Estate Consulting shared on CNBC that home remodeling spending is expected to hit an all-time high near $304 billion this year and continue to grow 26% over the next three years.

Our price target on SHW remains $350. Initial and current Street Quant Rating: A+.

Our price target on WHR remains $232. Initial and current Street Quant Rating: A-.

Regards,

Chris Versace & Bob Lang
Co-Portfolio Managers, Trifecta Stocks

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