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

The Sherwin-Williams Company (NYSE:SHW) declared a quarterly dividend on Wednesday, April 17th, RTT News reports. Investors of record on Friday, May 17th will be given a dividend of 0.715 per share by the specialty chemicals company on Friday, June 7th. This represents a $2.86 dividend on an annualized basis and a yield of 0.92%.

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 dividend payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sherwin-Williams to earn $12.77 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 22.4%.

Sherwin-Williams Stock Performance

NYSE:SHW traded up $1.78 during mid-day trading on Wednesday, reaching $310.16. 1,522,996 shares of the stock were exchanged, compared to its average volume of 1,396,141. The company has a 50 day simple moving average of $328.69 and a 200-day simple moving average of $296.82. The stock has a market capitalization of $78.92 billion, a P/E ratio of 33.34, a P/E/G ratio of 2.49 and a beta of 1.15. The company has a quick ratio of 0.48, a current ratio of 0.83 and a debt-to-equity ratio of 2.25. Sherwin-Williams has a 1 year low of $221.76 and a 1 year high of $348.37.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.01. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period last year, the business posted $1.89 EPS. The company’s revenue was up .4% on a year-over-year basis. Analysts anticipate that Sherwin-Williams will post 11.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the completion of the sale, the insider now owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the sale, the insider now owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Justin T. Binns sold 1,563 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the completion of the sale, the insider now directly owns 14,564 shares of the company’s stock, valued at approximately $4,935,302.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,050 shares of company stock valued at $10,340,237. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Fortis Capital Advisors LLC acquired a new stake in Sherwin-Williams during the fourth quarter valued at approximately $197,000. LM Advisors LLC bought a new position in Sherwin-Williams in the 4th quarter worth approximately $156,000. Milestone Investment Advisors LLC bought a new position in Sherwin-Williams in the 1st quarter worth approximately $141,000. Zions Bancorporation N.A. grew its holdings in Sherwin-Williams by 25.3% in the 1st quarter. Zions Bancorporation N.A. now owns 471 shares of the specialty chemicals company’s stock worth $118,000 after buying an additional 95 shares in the last quarter. Finally, Tyler Stone Wealth Management bought a new position in Sherwin-Williams in the 2nd quarter worth approximately $109,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Argus lifted their price target on Sherwin-Williams from $330.00 to $378.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Barclays lifted their price target on Sherwin-Williams from $285.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Robert W. Baird reaffirmed a “neutral” rating and set a $300.00 price objective (up from $270.00) on shares of Sherwin-Williams in a report on Wednesday, January 3rd. Seaport Res Ptn cut Sherwin-Williams from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Finally, Mizuho reduced their price objective on Sherwin-Williams from $352.00 to $340.00 and set a “buy” rating for the company in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.94.

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.