Shellback Capital LP Sells 16,832 Shares of The Sherwin-Williams Company (NYSE:SHW)

Shellback Capital LP lessened its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 62.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the specialty chemicals company’s stock after selling 16,832 shares during the period. Shellback Capital LP’s holdings in Sherwin-Williams were worth $2,984,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SHW. Steward Partners Investment Advisory LLC boosted its position in Sherwin-Williams by 2.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,215 shares of the specialty chemicals company’s stock worth $1,939,000 after acquiring an additional 120 shares during the last quarter. Focus Financial Network Inc. ADV acquired a new position in Sherwin-Williams during the fourth quarter worth $1,929,000. TFO Wealth Partners LLC grew its position in Sherwin-Williams by 12,900.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,340 shares of the specialty chemicals company’s stock valued at $730,000 after purchasing an additional 2,322 shares in the last quarter. Catalytic Wealth RIA LLC bought a new position in Sherwin-Williams in the fourth quarter valued at $608,000. Finally, Avestar Capital LLC increased its stake in Sherwin-Williams by 15.6% in the 4th quarter. Avestar Capital LLC now owns 1,142 shares of the specialty chemicals company’s stock valued at $356,000 after buying an additional 154 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Insider Buying and Selling

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the completion of the transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is owned by corporate insiders.

Sherwin-Williams Stock Performance

Shares of NYSE:SHW opened at $384.03 on Friday. The company’s 50 day simple moving average is $358.47 and its 200 day simple moving average is $329.52. 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 Sherwin-Williams Company has a 1 year low of $232.06 and a 1 year high of $385.23. The stock has a market capitalization of $97.37 billion, a price-to-earnings ratio of 40.94, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. The company had revenue of $6.27 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.29 EPS. As a group, research analysts predict that The Sherwin-Williams Company will post 11.47 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were issued a dividend of $0.715 per share. 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 presently 30.49%.

Wall Street Analyst Weigh In

SHW has been the subject of several analyst reports. Evercore ISI raised their price objective on Sherwin-Williams from $365.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, August 30th. UBS Group upped their target price on shares of Sherwin-Williams from $375.00 to $412.00 and gave the company a “buy” rating in a report on Friday, August 30th. Morgan Stanley boosted their price target on Sherwin-Williams from $338.00 to $375.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group lifted their target price on Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $362.68.

Sherwin-Williams Profile

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.