The Sherwin-Williams Company (SHW) to Issue Quarterly Dividend of $0.72 on December 6th

The Sherwin-Williams Company (NYSE:SHW) declared a quarterly dividend on Wednesday, October 16th, RTT News reports. Shareholders 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 yield of 0.74%. The ex-dividend date is Friday, November 15th.

Sherwin-Williams has increased its dividend payment 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 Price Performance

SHW stock opened at $389.07 on Friday. Sherwin-Williams has a 52 week low of $232.06 and a 52 week high of $392.57. 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 company has a fifty day simple moving average of $369.72 and a two-hundred day simple moving average of $333.53. The firm has a market capitalization of $98.15 billion, a P/E ratio of 39.66, a price-to-earnings-growth ratio of 3.01 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last released 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. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The firm had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same period in the previous year, the company earned $3.29 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts anticipate that Sherwin-Williams will post 11.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SHW shares. KeyCorp reissued a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. StockNews.com downgraded Sherwin-Williams from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Jefferies Financial Group upped their price target on shares of Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a report on Monday, August 26th. UBS Group lifted their price target on shares of Sherwin-Williams from $375.00 to $412.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, BMO Capital Markets raised their price objective on Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $373.17.

Insiders Place Their Bets

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at approximately $23,301,041.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

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.