Sherwin-Williams Co (NYSE:SHW) declared a quarterly dividend on Wednesday, July 17th, RTT News reports. Stockholders of record on Friday, August 16th will be paid a dividend of 1.13 per share by the specialty chemicals company on Friday, September 6th. This represents a $4.52 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, August 15th.
Sherwin-Williams has raised its dividend payment by an average of 8.7% annually over the last three years and has increased its dividend annually for the last 40 consecutive years. Sherwin-Williams has a payout ratio of 23.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Sherwin-Williams to earn $24.13 per share next year, which means the company should continue to be able to cover its $4.52 annual dividend with an expected future payout ratio of 18.7%.
Shares of NYSE:SHW opened at $525.85 on Wednesday. The stock has a market capitalization of $47.95 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 2.04 and a beta of 1.28. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.80 and a quick ratio of 0.50. The stock has a 50-day moving average price of $483.77. Sherwin-Williams has a 52-week low of $355.28 and a 52-week high of $527.00.
In other news, Director David F. Hodnik sold 501 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $521.57, for a total transaction of $261,306.57. Following the transaction, the director now owns 9,569 shares of the company’s stock, valued at approximately $4,990,903.33. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman John G. Morikis sold 16,260 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $471.26, for a total value of $7,662,687.60. Following the transaction, the chairman now directly owns 112,276 shares in the company, valued at approximately $52,911,187.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,608 shares of company stock worth $15,329,391. Corporate insiders own 0.50% of the company’s stock.
A number of research analysts recently commented on SHW shares. KeyCorp boosted their price target on Sherwin-Williams from $500.00 to $525.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. BMO Capital Markets boosted their price target on Sherwin-Williams to $517.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. They noted that the move was a valuation call. Wolfe Research cut Sherwin-Williams from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 25th. Zacks Investment Research raised Sherwin-Williams from a “sell” rating to a “hold” rating and set a $526.00 price target on the stock in a report on Thursday, July 25th. Finally, Deutsche Bank boosted their price target on Sherwin-Williams from $490.00 to $550.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $513.37.
Sherwin-Williams Company Profile
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors and do-it-yourself homeowners.
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