The Sherwin-Williams Company (NYSE:SHW) Sees Significant Decline in Short Interest

The Sherwin-Williams Company (NYSE:SHW) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 2,410,000 shares, a decline of 21.8% from the September 15th total of 3,080,000 shares. Based on an average daily trading volume, of 1,490,000 shares, the short-interest ratio is currently 1.6 days. Approximately 1.0% of the company’s shares are short sold.

Sherwin-Williams Price Performance

Shares of NYSE:SHW traded up $5.17 on Monday, reaching $384.16. 836,751 shares of the company traded hands, compared to its average volume of 1,539,280. The stock has a market capitalization of $96.91 billion, a PE ratio of 39.16, a P/E/G ratio of 2.95 and a beta of 1.17. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.50. The company’s 50 day moving average is $366.92 and its 200-day moving average is $332.45. Sherwin-Williams has a fifty-two week low of $232.06 and a fifty-two week high of $385.25.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, beating the consensus estimate of $3.51 by $0.19. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. Sherwin-Williams’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.29 earnings per share. As a group, analysts anticipate that Sherwin-Williams will post 11.5 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were given a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, August 16th. Sherwin-Williams’s dividend payout ratio (DPR) is currently 29.15%.

Wall Street Analyst Weigh In

SHW has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Robert W. Baird upped their price target on Sherwin-Williams from $310.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Wells Fargo & Company upped their target price on shares of Sherwin-Williams from $320.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $418.00 price objective on shares of Sherwin-Williams in a report on Friday, August 30th. Finally, BMO Capital Markets raised their target price on Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $370.39.

Insider Activity

In other news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction on Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the sale, the chief financial officer now owns 63,520 shares of the company’s stock, valued at $23,301,041.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

Several hedge funds have recently made changes to their positions in SHW. Centaurus Financial Inc. grew its stake in Sherwin-Williams by 68.9% during the 4th quarter. Centaurus Financial Inc. now owns 1,417 shares of the specialty chemicals company’s stock valued at $442,000 after acquiring an additional 578 shares in the last quarter. Syon Capital LLC increased its stake in Sherwin-Williams by 63.9% in the 4th quarter. Syon Capital LLC now owns 1,764 shares of the specialty chemicals company’s stock valued at $550,000 after buying an additional 688 shares during the period. American International Group Inc. lifted its position in Sherwin-Williams by 0.9% in the 4th quarter. American International Group Inc. now owns 68,605 shares of the specialty chemicals company’s stock worth $21,398,000 after buying an additional 618 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Sherwin-Williams during the 4th quarter valued at $278,000. Finally, Fortis Group Advisors LLC boosted its stake in shares of Sherwin-Williams by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 8,236 shares of the specialty chemicals company’s stock valued at $2,569,000 after buying an additional 4,118 shares during the period. Hedge funds and other institutional investors own 77.67% of the company’s stock.

About Sherwin-Williams

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.