The Sherwin-Williams Company (NYSE:SHW) Short Interest Up 41.7% in February

The Sherwin-Williams Company (NYSE:SHW) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 6,520,000 shares, an increase of 41.7% from the February 13th total of 4,600,000 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average daily volume of 1,730,000 shares, the days-to-cover ratio is currently 3.8 days.

Sherwin-Williams Stock Up 0.3 %

Shares of NYSE:SHW traded up $0.95 on Monday, reaching $342.73. The company had a trading volume of 1,760,106 shares, compared to its average volume of 1,607,307. The company has a quick ratio of 0.46, a current ratio of 0.79 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $86.20 billion, a P/E ratio of 32.49, a P/E/G ratio of 2.98 and a beta of 1.23. The stock has a 50-day moving average price of $353.85 and a 200 day moving average price of $365.62. Sherwin-Williams has a twelve month low of $282.09 and a twelve month high of $400.42.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. During the same period last year, the business posted $1.81 EPS. On average, equities analysts expect that Sherwin-Williams will post 12 EPS for the current year.

Sherwin-Williams Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.79 dividend. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.92%. Sherwin-Williams’s dividend payout ratio is presently 29.95%.

Insider Buying and Selling

In other news, insider Colin M. Davie sold 2,799 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $360.30, for a total value of $1,008,479.70. Following the completion of the transaction, the insider now owns 5,365 shares in the company, valued at $1,933,009.50. This trade represents a 34.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

Several large investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its stake in shares of Sherwin-Williams by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,047,174 shares of the specialty chemicals company’s stock worth $399,675,000 after buying an additional 10,709 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in Sherwin-Williams by 0.9% during the third quarter. Oppenheimer & Co. Inc. now owns 8,629 shares of the specialty chemicals company’s stock worth $3,293,000 after buying an additional 75 shares during the last quarter. OneDigital Investment Advisors LLC lifted its stake in Sherwin-Williams by 16.2% in the third quarter. OneDigital Investment Advisors LLC now owns 2,647 shares of the specialty chemicals company’s stock valued at $1,010,000 after acquiring an additional 370 shares during the last quarter. Empowered Funds LLC lifted its stake in Sherwin-Williams by 5.6% in the third quarter. Empowered Funds LLC now owns 5,239 shares of the specialty chemicals company’s stock valued at $2,000,000 after acquiring an additional 278 shares during the last quarter. Finally, Valley Wealth Managers Inc. grew its position in shares of Sherwin-Williams by 19.1% in the 3rd quarter. Valley Wealth Managers Inc. now owns 1,411 shares of the specialty chemicals company’s stock valued at $539,000 after acquiring an additional 226 shares during the period. 77.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on SHW shares. Royal Bank of Canada lowered their price target on shares of Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $380.00 target price (down previously from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. Zelman & Associates raised Sherwin-Williams to a “strong-buy” rating in a report on Friday, January 17th. Robert W. Baird set a $370.00 price objective on Sherwin-Williams in a research report on Friday, January 31st. Finally, Mizuho dropped their price objective on Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $401.13.

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.