The Sherwin-Williams Company (NYSE:SHW) will seek acquisitions. John Morikis Chairman and Chief Executive Officer said during the review of third quarter 2022 results and our outlook for the fourth quarter and full year of 2022, "We will continue implementing appropriate pricing actions across the company to offset persistently higher input costs with a focus on regaining our gross margins back to our long-term target range of 45% to 48%. We will continue investing in acquisitions that can accelerate our long-term strategy and top line growth and expand our operating margins, including our most recent announcement of European wood coatings leader, ICA Group.

We will maintain our disciplined capital allocation philosophy. We will not hold cash while investing appropriately in CapEx, paying a dividend, targeting acquisitions that accelerate our strategy and absent M&A, buying back our stock".