The Sherwin-Williams Company (NYSE:SHW) Announces $0.72 Quarterly Dividend

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 yield of 0.74%. The ex-dividend date is Friday, November 15th.

Sherwin-Williams has increased its dividend by an average of 10.6% annually over the last three years and has raised its dividend every year for the last 47 years. Sherwin-Williams has a dividend payout ratio of 22.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sherwin-Williams to earn $12.72 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 22.5%.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $387.29 on Thursday. The stock has a market cap of $97.54 billion, a P/E ratio of 38.57, a PEG ratio of 3.09 and a beta of 1.17. The stock has a 50 day simple moving average of $375.00 and a 200 day simple moving average of $340.53. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97. Sherwin-Williams has a 1-year low of $258.52 and a 1-year high of $392.57.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.19). The company had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. Sherwin-Williams’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.20 earnings per share. Research analysts anticipate that Sherwin-Williams will post 11.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SHW. Wells Fargo & Company lifted their price objective on Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. StockNews.com cut Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. KeyCorp reaffirmed a “sector weight” rating on shares of Sherwin-Williams in a report on Monday, October 7th. Jefferies Financial Group lifted their price target on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Finally, UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Sherwin-Williams currently has an average rating of “Moderate Buy” and an average target price of $396.47.

Insider Buying and Selling

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the sale, the chief financial officer now owns 63,520 shares in the company, valued at approximately $23,301,041.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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.