(Reuters) -Sherwin-Williams ( SHW ) beat Wall Street estimates for quarterly profit on Tuesday, boosted by strong demand from professional painters and higher sales in its protective coatings business.

Shares of the company rose 5.5% to $354.95 in pre-market trading.

U.S. home sales, which dipped in July, rebounded sharply in August to a 3-1/2-year high and held near a seven-month peak in September, as wealthier households continued to spend on renovations and maintenance.

The recovery in housing activity supported demand for Sherwin-Williams' ( SHW ) paints and coatings, particularly through its Paint Stores Group, which caters to professional contractors and homeowners.

The paintmaker said total net sales rose to $6.35 billion for the third quarter, from $6.16 billion a year ago.

Sales at the Paint Stores Group grew 5.1%, led by double-digit gains in protective and marine coatings and steady demand in commercial and residential repaint markets.

The Performance Coatings Group posted a 1.7% rise in net sales, helped by packaging and auto-refinish coatings.

On an adjusted basis, the Ohio-based company reported an adjusted profit of $3.59 per share, beating analysts' estimates of $3.44 per share, according to LSEG data.

The company also tweaked its full-year adjusted profit forecast to a range of $11.25 to $11.45 per share, compared with its previous outlook of between $11.20 and $11.50.