Shellback Capital LP Has $2.98 Million Stake in The Sherwin-Williams Company (NYSE:SHW)

Shellback Capital LP decreased its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 62.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,000 shares of the specialty chemicals company’s stock after selling 16,832 shares during the quarter. Shellback Capital LP’s holdings in Sherwin-Williams were worth $2,984,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Waterloo Capital L.P. acquired a new position in Sherwin-Williams in the 4th quarter valued at approximately $360,000. Valeo Financial Advisors LLC raised its stake in shares of Sherwin-Williams by 7.9% in the second quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock valued at $787,000 after purchasing an additional 193 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Sherwin-Williams by 7.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,533 shares of the specialty chemicals company’s stock worth $532,000 after purchasing an additional 103 shares during the period. Brevan Howard Capital Management LP boosted its stake in Sherwin-Williams by 259.1% during the fourth quarter. Brevan Howard Capital Management LP now owns 6,998 shares of the specialty chemicals company’s stock worth $2,183,000 after buying an additional 5,049 shares in the last quarter. Finally, Transcend Capital Advisors LLC increased its holdings in Sherwin-Williams by 24.1% in the 2nd quarter. Transcend Capital Advisors LLC now owns 7,805 shares of the specialty chemicals company’s stock valued at $2,329,000 after buying an additional 1,514 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.

Analyst Upgrades and Downgrades

SHW has been the topic of several recent research reports. KeyCorp lifted their target price on shares of Sherwin-Williams from $400.00 to $410.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Evercore ISI upped their price objective on Sherwin-Williams from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Wells Fargo & Company raised their target price on Sherwin-Williams from $320.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $418.00 price target on shares of Sherwin-Williams in a research report on Friday, August 30th. Finally, Morgan Stanley lifted their price objective on Sherwin-Williams from $338.00 to $375.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Sherwin-Williams has an average rating of “Moderate Buy” and a consensus target price of $362.68.

Insider Buying and Selling

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the transaction, the chief financial officer now owns 63,520 shares in the company, valued at $23,301,041.60. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.60% of the stock is owned by insiders.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $384.03 on Friday. The stock has a market cap of $97.37 billion, a price-to-earnings ratio of 40.94, a P/E/G ratio of 3.00 and a beta of 1.17. The Sherwin-Williams Company has a 12-month low of $232.06 and a 12-month high of $385.23. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The business’s 50-day simple moving average is $358.47 and its 200 day simple moving average is $329.52.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same period in the previous year, the firm posted $3.29 earnings per share. Sherwin-Williams’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, research analysts anticipate that The Sherwin-Williams Company will post 11.47 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were given a $0.715 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.86 annualized dividend and a dividend yield of 0.74%. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

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.