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SHW Sherwin-Williams

Founded in 1866, The Sherwin-Williams Company is a global leader in the manufacture, development, distribution, and sale of paints, coatings and related products to professional, industrial, commercial, and retail customers. Sherwin-Williams manufactures products under well-known brands such as Sherwin-Williams®, Valspar®, HGTV HOME® by Sherwin-Williams, Dutch Boy®, Krylon®, Minwax®, Thompson's® Water Seal®, Cabot® and many more. With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded products are sold exclusively through a chain of more than 4,900 company operated stores and facilities, while the company's other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers, and industrial distributors. The Sherwin-Williams Performance Coatings Group supplies a broad range of highly-engineered solutions for the construction, industrial, packaging and transportation markets in more than 120 countries around the world.

Company profile

Ticker
SHW
Exchange
CEO
John Morikis
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
340526850

SHW stock data

(
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Calendar

27 Jul 21
4 Aug 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 219.6M 219.6M 219.6M 219.6M 219.6M 219.6M
Cash burn (monthly) 31.7M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 37.13M n/a n/a n/a n/a n/a
Cash remaining 182.47M n/a n/a n/a n/a n/a
Runway (months of cash) 5.8 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
30 Jul 21 Brian E Padden Common Stock Sell Dispose S No No 289.53 3,153 912.89K 5,160
30 Jul 21 Brian E Padden Common Stock Option exercise Aquire M No No 75.91 699 53.06K 8,313
30 Jul 21 Brian E Padden Employee Stock Option Common Stock Option exercise Dispose M No No 75.91 141 10.7K 816
30 Jul 21 Brian E Padden Employee Stock Option Common Stock Option exercise Dispose M No No 75.91 558 42.36K 0
29 Jul 21 Morikis John G Common Stock Sell Dispose S No No 289.13 100,814 29.15M 277,731
29 Jul 21 Morikis John G Common Stock Sell Dispose S No No 288.63 49,839 14.39M 378,545
29 Jul 21 Morikis John G Common Stock Sell Dispose S No No 287.6 4,867 1.4M 428,384
29 Jul 21 Morikis John G Common Stock Option exercise Aquire M No No 127.98 155,520 19.9M 433,251
29 Jul 21 Morikis John G Employee Stock Option Common Stock Option exercise Dispose M No No 127.98 51,318 6.57M 0
29 Jul 21 Morikis John G Employee Stock Option Common Stock Option exercise Dispose M No No 127.98 52,101 6.67M 0

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

27.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 1247 1241 +0.5%
Opened positions 112 163 -31.3%
Closed positions 106 85 +24.7%
Increased positions 543 474 +14.6%
Reduced positions 385 370 +4.1%
13F shares
Current Prev Q Change
Total value 128.36B 126.26B +1.7%
Total shares 72.95M 69.26M +5.3%
Total puts 674.69K 711.98K -5.2%
Total calls 527.25K 560.46K -5.9%
Total put/call ratio 1.3 1.3 +0.7%
Largest owners
Shares Value Change
Vanguard 6.89M $5.09B -2.0%
BLK Blackrock 6.12M $4.52B +3.3%
STT State Street 3.5M $2.58B +1.3%
Geode Capital Management 3.46M $851.45M +202.1%
FMR 3.41M $2.52B -10.0%
Massachusetts Financial Services 2.98M $2.2B -4.0%
Capital World Investors 1.65M $1.21B -29.6%
FSZ Fiera Capital 1.52M $375.01M -9.3%
JHG Janus Henderson 1.41M $1.04B +12.2%
MS Morgan Stanley 1.32M $974.54M +7.2%
Largest transactions
Shares Bought/sold Change
Geode Capital Management 3.46M +2.31M +202.1%
Norges Bank 0 -790.83K EXIT
Capital World Investors 1.65M -691.93K -29.6%
Findlay Park Partners 1.02M +670.5K +190.9%
Putnam Investments 868.84K +574.57K +195.3%
TROW T. Rowe Price 1.32M +420.5K +46.9%
FMR 3.41M -380.6K -10.0%
DAVENPORT & Co 570.08K +379.86K +199.7%
Brown Brothers Harriman & Co 282.4K +278.17K +6584.0%
NTRS Northern Trust 1.19M +269.28K +29.1%

Financial report summary

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Risks
  • The COVID-19 pandemic has adversely impacted our business, results of operations, cash flow and financial condition, and the extent to which the COVID-19 pandemic will adversely impact our business, results of operations, cash flow, liquidity and financial condition in the future remains uncertain.
  • Adverse changes in general business and economic conditions in the United States and worldwide may adversely affect our results of operations, cash flow, liquidity or financial condition.
  • Protracted duration of economic downturns in cyclical segments of the economy may depress the demand for some of our products and adversely affect our sales, earnings, cash flow or financial condition.
  • Adverse weather conditions or impacts of climate change and natural disasters may temporarily reduce the demand for some of our products and could have a negative effect on our sales, earnings or cash flow.
  • A weakening of global credit markets may adversely affect our results of operations, cash flow, liquidity or financial condition.
  • We require a significant amount of cash to service the substantial amount of debt we have outstanding. Our ability to generate cash depends on many factors beyond our control. We also depend on the business of our subsidiaries to satisfy our cash needs. If we cannot generate the required cash, we may not be able to make the necessary payments required under our indebtedness.
  • Fluctuations in foreign currency exchange rates could adversely affect our results of operations, cash flow, liquidity or financial condition.
  • Unexpected shortages and increases in the cost of raw materials and energy may adversely affect our earnings or cash flow.
  • Although we have an extensive customer base, the loss of any of our largest customers could adversely affect our sales, earnings or cash flow.
  • Increased competition or failure to keep pace with developments in key competitive areas of our business may reduce our sales, earnings or cash flow performance.
  • Our results of operations, cash flow or financial condition may be negatively impacted if we do not successfully integrate future acquisitions into our existing operations and if the performance of the businesses we acquire do not meet our expectations.
  • Risks and uncertainties associated with our expansion into and our operations in Asia, Europe, South America and other foreign markets could adversely affect our results of operations, cash flow, liquidity or financial condition.
  • Policy changes affecting international trade could adversely impact the demand for our products and our competitive position.
  • Cybersecurity incidents and other disruptions to our information technology systems could interfere with our operations, result in the compromise or loss of critical and confidential information and severely harm our business.
  • Inability to protect or enforce our material trademarks and other intellectual property rights could have an adverse effect on our business.
  • We are required to comply with numerous complex and increasingly stringent domestic and foreign health, safety and environmental laws, regulations and requirements, the cost of which is likely to increase and may adversely affect our results of operations, cash flow or financial condition.
  • We are involved with environmental investigation and remediation activities at some of our currently and formerly owned sites, as well as a number of third-party sites, for which our ultimate liability may exceed the current amount we have accrued.
  • The nature, cost, quantity and outcome of pending and future litigation, such as litigation arising from the historical manufacture and sale of lead pigments and lead-based paint, could have a material adverse effect on our results of operations, cash flow, liquidity and financial condition.
Management Discussion
  • The Company has historically experienced, and expects to continue to experience, variability in quarterly results. The results of operations for the three and six months ended June 30, 2021 are not indicative of the results to be expected for the full year as business is seasonal in nature with the majority of Net sales for the Reportable Segments traditionally occurring during the second and third quarters. However, periods of economic downturn can alter the Company's seasonal patterns.
  • Consolidated net sales increased in the second quarter of 2021 primarily due to higher product sales volume in The Americas Group and the Performance Coatings Group, partially offset by lower product sales volume in the Consumer Brands Group. Currency translation rate changes increased net sales by 2.1% in the second quarter. Net sales of all consolidated foreign subsidiaries increased 42.0% to $1.102 billion in the second quarter compared to $776.2 million in the same period last year. The increase in net sales for all consolidated foreign subsidiaries in the second quarter was due primarily to higher volume sales in most end markets and selling price increases in the Performance Coatings Group and favorable currency translation. Net sales of all operations other than consolidated foreign subsidiaries increased 11.8% to $4.278 billion in the second quarter compared to $3.828 billion in the same period last year.
  • Net sales in The Americas Group increased in the second quarter due primarily to higher architectural sales across all professional end markets, led by residential repaint, commercial and property maintenance that more than offset the decrease in DIY paint sales, and selling price increases. Net sales from stores open for more than twelve calendar months in the U.S. and Canada increased 19.3% in the second quarter compared to last year’s comparable period. Sales of non-paint products increased 34.1% compared to last year's second quarter. A discussion of changes in volume versus pricing for sales of products other than paint is not pertinent due to the wide assortment of general merchandise sold.
Content analysis
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Positive
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Readability
H.S. sophomore Avg
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Removed: amendment, aviation, broader, capitalization, Clause, Constitution, Delaware, Erie, essential, impaired, injunctive, mix, prevent, remitted, served, test, transportation, violation, voluntarily, writ

Patents

APP
Utility
Packaging Coating Containing Water-dispersible Acrylic Block Copolymer
29 Jul 21
A food or beverage container having a body portion or an end portion that includes a metal substrate with a coating composition disposed thereon.
APP
Utility
Polyurethane Coating Composition
8 Jul 21
A two-component polyurethane coating composition is described.
APP
Utility
Tinting Water-borne and Solvent-borne Paints and Stains with Water-only Colorants
17 Jun 21
A point-of-sale custom color system for tinting base paints and stains includes an array of water-only fluid colorants, including at least white, green, blue and red water-only colorants, which can be used to tint water-borne paints and stains.
APP
Utility
Compositions for Containers and Other Articles and Methods of Using Same
10 Jun 21
This invention provides a polymer, which is preferably a polyether polymer.
GRANT
Utility
Aqueous polyester dispersions, articles having a coating formed from such aqueous dispersions, and methods of coating
1 Jun 21
An aqueous dispersion comprising: water; a hydrophobic aromatic polyester having a number average molecular weight of greater than 7,000 Daltons; and a water-dispersible aromatic polyester dispersant; wherein the hydrophobic aromatic polyester and the water-dispersible aromatic polyester dispersant form a stable aqueous dispersion; and wherein the hydrophobic aromatic polyester is present in the aqueous dispersion in an amount of less than 50 wt-%, based on the total weight of the hydrophobic aromatic polyester and the water-dispersible aromatic polyester dispersant.