The Sherwin-Williams Company (NYSE:SHW) Plans 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 dividend on an annualized basis and a dividend yield of 0.73%.

Sherwin-Williams has raised its dividend payment by an average of 10.6% per year over the last three years and has raised its dividend every year for the last 47 years. Sherwin-Williams has a payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. 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 Performance

NYSE SHW traded up $0.64 on Wednesday, reaching $389.19. 483,049 shares of the company’s stock traded hands, compared to its average volume of 1,531,279. Sherwin-Williams has a fifty-two week low of $232.06 and a fifty-two 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 firm has a market cap of $98.68 billion, a price-to-earnings ratio of 41.44, a P/E/G ratio of 2.95 and a beta of 1.17. The stock has a 50 day moving average price of $367.81 and a 200-day moving average price of $332.74.

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

Insider Buying and Selling

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, 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 filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Evercore ISI boosted their target price on Sherwin-Williams from $365.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Morgan Stanley raised their price objective on shares of Sherwin-Williams from $338.00 to $375.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. KeyCorp reissued a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. Robert W. Baird lifted their price target on shares of Sherwin-Williams from $310.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $418.00 price objective on shares of Sherwin-Williams in a report on Friday, August 30th. One equities research 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $373.17.

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.