Sherwin-Williams Co (NYSE:SHW) Sees Large Growth in Short Interest

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Sherwin-Williams Co (NYSE:SHW) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 941,700 shares, an increase of 19.6% from the August 31st total of 787,300 shares. Based on an average daily volume of 449,200 shares, the short-interest ratio is presently 2.1 days. Currently, 1.2% of the shares of the company are sold short.

Shares of NYSE:SHW traded down $1.82 during midday trading on Friday, hitting $688.98. 402,496 shares of the company’s stock traded hands, compared to its average volume of 591,718. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.69 and a current ratio of 1.10. The company has a market cap of $62.73 billion, a PE ratio of 36.73, a P/E/G ratio of 3.35 and a beta of 1.21. The firm’s fifty day moving average price is $686.49 and its two-hundred day moving average price is $585.34. Sherwin-Williams has a twelve month low of $325.43 and a twelve month high of $725.91.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, July 28th. The specialty chemicals company reported $7.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.69 by $1.41. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.55 billion. Sherwin-Williams had a net margin of 9.83% and a return on equity of 53.67%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.57 EPS. As a group, equities research analysts anticipate that Sherwin-Williams will post 22.94 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 21st were issued a dividend of $1.34 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $5.36 annualized dividend and a dividend yield of 0.78%. Sherwin-Williams’s payout ratio is 25.38%.

In other news, SVP Thomas P. Gilligan sold 4,964 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $642.70, for a total transaction of $3,190,362.80. Following the completion of the sale, the senior vice president now directly owns 8,751 shares in the company, valued at approximately $5,624,267.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John G. Morikis sold 22,282 shares of Sherwin-Williams stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $708.18, for a total transaction of $15,779,666.76. Following the sale, the chief executive officer now owns 125,306 shares of the company’s stock, valued at $88,739,203.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,543 shares of company stock valued at $37,224,818. 0.55% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the stock. Eqis Capital Management Inc. lifted its stake in Sherwin-Williams by 12.8% during the first quarter. Eqis Capital Management Inc. now owns 801 shares of the specialty chemicals company’s stock valued at $459,000 after purchasing an additional 91 shares during the last quarter. Private Advisor Group LLC lifted its stake in Sherwin-Williams by 6.2% during the first quarter. Private Advisor Group LLC now owns 4,060 shares of the specialty chemicals company’s stock valued at $1,866,000 after purchasing an additional 238 shares during the last quarter. Sontag Advisory LLC lifted its stake in Sherwin-Williams by 412.5% during the first quarter. Sontag Advisory LLC now owns 2,260 shares of the specialty chemicals company’s stock valued at $1,039,000 after purchasing an additional 1,819 shares during the last quarter. Lido Advisors LLC lifted its position in shares of Sherwin-Williams by 229.3% in the 1st quarter. Lido Advisors LLC now owns 1,225 shares of the specialty chemicals company’s stock valued at $563,000 after acquiring an additional 853 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Sherwin-Williams by 5.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 101,764 shares of the specialty chemicals company’s stock valued at $46,763,000 after acquiring an additional 4,949 shares in the last quarter. Institutional investors and hedge funds own 75.16% of the company’s stock.

SHW has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Sherwin-Williams from $555.00 to $637.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Bank of America lifted their price objective on Sherwin-Williams from $565.00 to $600.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 29th. Credit Suisse Group lifted their price objective on Sherwin-Williams from $734.00 to $765.00 and gave the stock an “outperform” rating in a research report on Wednesday. Zacks Investment Research downgraded Sherwin-Williams from a “buy” rating to a “hold” rating and set a $742.00 price objective for the company. in a research report on Tuesday. Finally, CSFB lifted their price objective on Sherwin-Williams from $734.00 to $765.00 and gave the stock an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Sherwin-Williams currently has a consensus rating of “Buy” and an average price target of $676.74.

Sherwin-Williams Company Profile

The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors and do-it-yourself homeowners.

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