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

The Sherwin-Williams Company (NYSE:SHW) announced a quarterly dividend on Wednesday, April 17th, RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 0.92%.

Sherwin-Williams has increased its dividend by an average of 10.6% per year over the last three years and has increased 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 research 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 Price Performance

Shares of SHW traded up $1.46 during mid-day trading on Wednesday, hitting $309.84. 780,949 shares of the company traded hands, compared to its average volume of 1,393,104. Sherwin-Williams has a one year low of $221.76 and a one year high of $348.37. The company has a current ratio of 0.83, a quick ratio of 0.48 and a debt-to-equity ratio of 2.25. The business has a 50-day moving average of $328.69 and a 200 day moving average of $296.82. The stock has a market capitalization of $78.84 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 2.49 and a beta of 1.15.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on SHW shares. UBS Group upgraded shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and increased their target price for the stock from $312.00 to $402.00 in a report on Thursday, March 7th. Wells Fargo & Company increased their target price on shares of Sherwin-Williams from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. JPMorgan Chase & Co. increased their target price on shares of Sherwin-Williams from $285.00 to $317.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Seaport Res Ptn lowered shares of Sherwin-Williams from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $300.00 target price (up from $270.00) on shares of Sherwin-Williams in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $325.94.

Insider Transactions at Sherwin-Williams

In other news, SVP Gregory P. Sofish sold 1,830 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $320.70, for a total transaction of $586,881.00. Following the transaction, the senior vice president now directly owns 6,329 shares in the company, valued at approximately $2,029,710.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Gregory P. Sofish sold 1,830 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $320.70, for a total value of $586,881.00. Following the transaction, the senior vice president now owns 6,329 shares in the company, valued at approximately $2,029,710.30. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $338.87, for a total transaction of $529,653.81. Following the completion of the transaction, the insider now owns 14,564 shares in the company, valued at approximately $4,935,302.68. The disclosure for this sale can be found here. Insiders have sold 32,050 shares of company stock worth $10,340,237 in the last ninety days. Insiders own 0.60% of the company’s stock.

Institutional Trading of Sherwin-Williams

Institutional investors have recently bought and sold shares of the business. Aspect Partners LLC bought a new stake in shares of Sherwin-Williams during the 4th quarter worth approximately $25,000. O Dell Group LLC bought a new stake in shares of Sherwin-Williams during the 4th quarter worth approximately $42,000. First Capital Advisors Group LLC. bought a new stake in shares of Sherwin-Williams during the 2nd quarter worth approximately $37,000. West Tower Group LLC bought a new stake in shares of Sherwin-Williams during the 4th quarter worth approximately $50,000. Finally, First Manhattan Co. lifted its holdings in shares of Sherwin-Williams by 82.6% during the 4th quarter. First Manhattan Co. now owns 241 shares of the specialty chemicals company’s stock worth $57,000 after acquiring an additional 109 shares during the period. Institutional investors own 77.67% 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.