You can buy a can of Sherwin-Williams paint now

We don't make stock recommendations at Yahoo Finance but we can offer you some advice if you're in the market for a can of Sherwin-Williams SHW paint to spruce up the house this spring, it's best to buy it now.

The paint maker said Friday it will be taking an eye-popping 12% price increase on Feb. 1 in its Americas segment because inflationary pressures in raw materials and labor continue to wreak havoc on the company's business.

Sherwin-Williams CEO John Morikis said raw material and other costs remain elevated, and we continue to respond with pricing actions in every group to offset higher costs.

Sherwin-Williams decided to raise prices on consumers after the realities of the pandemic led to a disappointing end to 2021.

An adjusted $8.15 a share was forecast for the full year, according to the company's pre-announced 2021 earnings Friday. Sherwin-Williams previously predicted $8.35 to $8.55 a share.

Morikis blamed the profit shortfall on lower than expected paint sales and the Omicron variant on a call with analysts, which caused staff shortages at stores and plants.

Morikis said January was off to a slow start. The CEO didn't share guidance for 2022, pointing to the company's Jan. 27 full earnings release.

The shares of Sherwin-Williams fell by 3.3% on the session. The news resulted in selling pressure on the paint maker PP Industries, whose stock dropped 2.2%.

Brian Sozzi is an anchor at Yahoo Finance. You can follow Sozzi on Twitter and LinkedIn.