Sherwin-Williams Company (The) (NYSE:SHW) Short Interest Up 45.0% in June

Sherwin-Williams Company (The) (NYSE:SHW) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 1,491,614 shares, an increase of 45.0% from the May 31st total of 1,028,531 shares. Based on an average daily trading volume, of 726,081 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.8% of the company’s stock are sold short.

Sherwin-Williams Company (NYSE:SHW) opened at 359.40 on Tuesday. Sherwin-Williams Company has a 52-week low of $239.48 and a 52-week high of $362.57. The firm has a 50-day moving average price of $343.97 and a 200 day moving average price of $313.62. The stock has a market cap of $33.26 billion, a PE ratio of 28.16 and a beta of 1.24.

Sherwin-Williams Company (The) (NYSE:SHW) last released its earnings results on Thursday, April 20th. The specialty chemicals company reported $2.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.20. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.72 billion. Sherwin-Williams Company (The) had a return on equity of 71.96% and a net margin of 10.02%. Sherwin-Williams Company (The)’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.81 earnings per share. On average, analysts forecast that Sherwin-Williams Company will post $14.70 earnings per share for the current fiscal year.

In related news, SVP Catherine M. Kilbane sold 22,635 shares of Sherwin-Williams Company (The) stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $324.47, for a total transaction of $7,344,378.45. Following the transaction, the senior vice president now owns 16,635 shares of the company’s stock, valued at $5,397,558.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert J. Davisson sold 10,500 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $335.00, for a total value of $3,517,500.00. Following the sale, the insider now owns 7,166 shares in the company, valued at $2,400,610. The disclosure for this sale can be found here. In the last three months, insiders sold 46,955 shares of company stock valued at $15,525,668. 1.69% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the company. Westwood Holdings Group Inc. raised its stake in shares of Sherwin-Williams Company (The) by 18.5% in the fourth quarter. Westwood Holdings Group Inc. now owns 340,395 shares of the specialty chemicals company’s stock worth $91,477,000 after buying an additional 53,168 shares during the last quarter. Comprehensive Portfolio Management LLC bought a new stake in shares of Sherwin-Williams Company (The) during the fourth quarter worth $918,000. Advantage Investment Management LLC bought a new stake in shares of Sherwin-Williams Company (The) during the fourth quarter worth $528,000. Thrivent Financial for Lutherans raised its position in Sherwin-Williams Company (The) by 7.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,830 shares of the specialty chemicals company’s stock worth $761,000 after buying an additional 200 shares in the last quarter. Finally, IFM Investors Pty Ltd acquired a new position in Sherwin-Williams Company (The) during the fourth quarter worth approximately $274,000. 72.57% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on the company. UBS AG restated a “neutral” rating and set a $341.00 target price (up previously from $312.00) on shares of Sherwin-Williams Company (The) in a report on Tuesday, June 6th. Royal Bank Of Canada restated a “buy” rating and set a $350.00 price target on shares of Sherwin-Williams Company (The) in a report on Tuesday, March 28th. Citigroup Inc. reissued a “buy” rating and issued a $410.00 price target on shares of Sherwin-Williams Company (The) in a research report on Friday, June 23rd. Zacks Investment Research raised shares of Sherwin-Williams Company (The) from a “hold” rating to a “buy” rating and set a $347.00 price objective on the stock in a report on Tuesday, March 28th. Finally, BidaskClub lowered shares of Sherwin-Williams Company (The) from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $354.22.

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About Sherwin-Williams Company (The)

The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company’s segments are Paint Stores Group, Consumer Group, Global Finishes Group, Latin America Coatings Group and Administrative. The Paint Stores Group markets and sells Sherwin-Williams branded architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.

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