Sherwin-Williams Co (NYSE:SHW) Short Interest Up 12.1% in June

Sherwin-Williams Co (NYSE:SHW) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,355,300 shares, an increase of 12.1% from the May 15th total of 1,209,500 shares. Based on an average daily volume of 537,000 shares, the days-to-cover ratio is currently 2.5 days. Currently, 1.6% of the shares of the company are sold short.

NYSE:SHW traded down $1.09 on Friday, hitting $456.60. 488,171 shares of the company’s stock traded hands, compared to its average volume of 405,057. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.56 and a current ratio of 0.96. Sherwin-Williams has a 1 year low of $355.28 and a 1 year high of $479.64. The firm’s 50-day simple moving average is $461.12. The firm has a market capitalization of $42.25 billion, a P/E ratio of 24.64, a PEG ratio of 1.91 and a beta of 1.27.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $3.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.63 by ($0.03). The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.09 billion. Sherwin-Williams had a net margin of 6.27% and a return on equity of 47.09%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.57 EPS. Analysts predict that Sherwin-Williams will post 20.96 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be given a dividend of $1.13 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $4.52 dividend on an annualized basis and a yield of 0.99%. Sherwin-Williams’s payout ratio is currently 24.39%.

In other news, Director Susan J. Kropf sold 1,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $478.11, for a total transaction of $478,110.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert F. Lynch sold 6,984 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $430.54, for a total transaction of $3,006,891.36. Following the transaction, the insider now directly owns 13,855 shares of the company’s stock, valued at approximately $5,965,131.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,471 shares of company stock valued at $12,202,129. 0.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Fiera Capital Corp raised its stake in shares of Sherwin-Williams by 5.0% in the first quarter. Fiera Capital Corp now owns 1,473,036 shares of the specialty chemicals company’s stock valued at $634,451,000 after purchasing an additional 70,460 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Sherwin-Williams by 4.2% in the first quarter. Janus Henderson Group PLC now owns 1,434,859 shares of the specialty chemicals company’s stock valued at $618,002,000 after purchasing an additional 57,737 shares in the last quarter. Meritage Group LP raised its stake in shares of Sherwin-Williams by 11.7% in the first quarter. Meritage Group LP now owns 985,589 shares of the specialty chemicals company’s stock valued at $424,503,000 after purchasing an additional 103,486 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Sherwin-Williams by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 938,381 shares of the specialty chemicals company’s stock valued at $368,468,000 after purchasing an additional 64,106 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Sherwin-Williams by 0.5% in the first quarter. Northern Trust Corp now owns 886,939 shares of the specialty chemicals company’s stock valued at $382,013,000 after purchasing an additional 4,351 shares in the last quarter. 76.24% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on SHW shares. Wells Fargo & Co lifted their price objective on shares of Twitter from $33.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, April 24th. Robert W. Baird cut their price objective on shares of Waters from $211.00 to $209.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Barclays dropped their price target on shares of Waters from $218.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 24th. Argus boosted their price target on shares of Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Deutsche Bank boosted their price target on shares of Texas Instruments from $100.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. Sherwin-Williams presently has a consensus rating of “Buy” and a consensus price target of $480.09.

About Sherwin-Williams

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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