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

Last updated on Wednesday, September 16, 2020 | 2020 MarketBeat

Sherwin-Williams Co (NYSE:SHW) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 787,300 shares, a growth of 19.9% from the August 15th total of 656,800 shares. Currently, 1.0% of the company's stock are sold short. Based on an average trading volume of 469,600 shares, the short-interest ratio is presently 1.7 days.

SHW has been the subject of a number of analyst reports. Loop Capital raised their target price on shares of Sherwin-Williams from $625.00 to $695.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Credit Suisse Group raised their target price on shares of Sherwin-Williams from $625.00 to $734.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. Royal Bank of Canada raised their target price on shares of Sherwin-Williams from $655.00 to $700.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. Zacks Investment Research raised shares of Sherwin-Williams from a "hold" rating to a "strong-buy" rating and set a $745.00 target price for the company in a research report on Friday, July 31st. Finally, KeyCorp initiated coverage on shares of Sherwin-Williams in a research report on Thursday, September 10th. They issued an "overweight" rating and a $805.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. The stock presently has an average rating of "Buy" and an average price target of $654.64.

Shares of NYSE SHW traded down $1.13 during mid-day trading on Wednesday, reaching $715.12. 388,467 shares of the company were exchanged, compared to its average volume of 601,003. The company's 50-day simple moving average is $671.43 and its 200-day simple moving average is $572.01. The company has a quick ratio of 0.69, a current ratio of 1.10 and a debt-to-equity ratio of 2.14. The stock has a market capitalization of $65.11 billion, a P/E ratio of 38.12, a P/E/G ratio of 3.35 and a beta of 1.21. 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 (EPS) for the quarter, topping analysts' consensus estimates of $5.69 by $1.41. The company had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $4.55 billion. Sherwin-Williams had a net margin of 9.83% and a return on equity of 53.67%. Sherwin-Williams's quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $6.57 EPS. As a group, equities research analysts expect that Sherwin-Williams will post 22.94 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were paid a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, August 20th. Sherwin-Williams's dividend payout ratio (DPR) is 25.38%.

In other news, SVP Thomas P. Gilligan sold 4,964 shares of the stock in a transaction 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 owns 8,751 shares of the company's stock, valued at $5,624,267.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John G. Morikis sold 22,282 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $671.58, for a total transaction of $14,964,145.56. Following the sale, the chief executive officer now directly owns 117,340 shares of the company's stock, valued at approximately $78,803,197.20. The disclosure for this sale can be found here. Insiders have sold 32,261 shares of company stock valued at $21,445,151 in the last three months. 0.55% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the business. Center for Financial Planning Inc. raised its stake in Sherwin-Williams by 250.0% in the 1st quarter. Center for Financial Planning Inc. now owns 63 shares of the specialty chemicals company's stock worth $29,000 after purchasing an additional 45 shares in the last quarter. Front Row Advisors LLC acquired a new stake in Sherwin-Williams in the 1st quarter worth about $44,000. WASHINGTON TRUST Co acquired a new stake in Sherwin-Williams in the 1st quarter worth about $48,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Sherwin-Williams in the 2nd quarter worth about $68,000. Finally, Valeo Financial Advisors LLC raised its stake in Sherwin-Williams by 45.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 119 shares of the specialty chemicals company's stock worth $69,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 75.16% of the company's stock.

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.

Recommended Story: Earnings Per Share (EPS)

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