The Sherwin-Williams Company (NYSE:SHW) to Issue Quarterly Dividend of $0.72

The Sherwin-Williams Company (NYSE:SHW) announced a quarterly dividend on Wednesday, October 16th, RTT News reports. Investors of record on Friday, November 15th will be given a dividend of 0.715 per share by the specialty chemicals company on Friday, December 6th. This represents a $2.86 annualized dividend and a dividend yield of 0.73%.

Sherwin-Williams has increased its dividend by an average of 10.6% annually over the last three years and has raised its dividend annually for the last 47 consecutive years. Sherwin-Williams has a payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sherwin-Williams to earn $12.81 per share next year, which means the company should continue to be able to cover its $2.86 annual dividend with an expected future payout ratio of 22.3%.

Sherwin-Williams Stock Up 0.2 %

Shares of Sherwin-Williams stock traded up $0.64 during trading on Wednesday, hitting $389.19. The company’s stock had a trading volume of 483,049 shares, compared to its average volume of 1,531,279. Sherwin-Williams has a 52 week low of $232.06 and a 52 week high of $392.57. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.50 and a current ratio of 0.81. The company has a fifty day simple moving average of $367.81 and a two-hundred day simple moving average of $332.74. The company has a market capitalization of $98.68 billion, a PE ratio of 41.44, a P/E/G ratio of 2.95 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.19. The firm had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.33 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The business’s revenue was up .5% on a year-over-year basis. During the same period last year, the business earned $3.29 earnings per share. Equities research analysts predict that Sherwin-Williams will post 11.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. KeyCorp reiterated a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. Redburn Atlantic raised Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. Barclays increased their price target on Sherwin-Williams from $315.00 to $355.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group upped their price target on shares of Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group lifted their price objective on shares of Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $373.17.

Insider Transactions at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the transaction, the chief financial officer now owns 63,520 shares of the company’s stock, valued at $23,301,041.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Sherwin-Williams Company 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.