The Sherwin-Williams Company Announces Quarterly Dividend of $0.79 (NYSE:SHW)

The Sherwin-Williams Company (NYSE:SHW - Get Free Report) declared a quarterly dividend on Wednesday, April 16th, RTT News reports. Investors of record on Friday, May 16th will be given a dividend of 0.79 per share by the specialty chemicals company on Friday, June 6th. This represents a $3.16 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Friday, May 16th.

Sherwin-Williams has increased its dividend payment by an average of 9.1% annually over the last three years and has increased its dividend annually for the last 48 consecutive years. Sherwin-Williams has a dividend payout ratio of 23.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sherwin-Williams to earn $13.37 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 23.6%.

Sherwin-Williams Stock Performance

Shares of SHW traded down $10.61 during mid-day trading on Monday, hitting $322.77. The company's stock had a trading volume of 1,510,639 shares, compared to its average volume of 1,786,378. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.46 and a current ratio of 0.79. The firm has a market capitalization of $81.18 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 2.98 and a beta of 1.26. The stock's 50-day moving average is $344.78 and its two-hundred day moving average is $358.66. Sherwin-Williams has a one year low of $282.09 and a one year high of $400.42.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.07 by $0.02. Sherwin-Williams had a return on equity of 74.50% and a net margin of 11.61%. During the same period last year, the business earned $1.81 earnings per share. As a group, sell-side analysts anticipate that Sherwin-Williams will post 12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SHW. Barclays cut their price target on shares of Sherwin-Williams from $385.00 to $355.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Wells Fargo & Company decreased their price target on Sherwin-Williams from $380.00 to $350.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Robert W. Baird set a $370.00 price objective on Sherwin-Williams in a research note on Friday, January 31st. Royal Bank of Canada reduced their target price on shares of Sherwin-Williams from $438.00 to $415.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Finally, Berenberg Bank raised shares of Sherwin-Williams from a "hold" rating to a "buy" rating and lifted their price target for the company from $321.00 to $420.00 in a report on Friday, January 24th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $392.50.

Insider Activity

In related news, insider Colin M. Davie sold 2,799 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $360.30, for a total value of $1,008,479.70. Following the sale, the insider now directly owns 5,365 shares in the company, valued at $1,933,009.50. This trade represents a 34.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Sherwin-Williams

A hedge fund recently raised its stake in Sherwin-Williams stock. Brighton Jones LLC increased its holdings in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 73.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,545 shares of the specialty chemicals company's stock after purchasing an additional 655 shares during the period. Brighton Jones LLC's holdings in Sherwin-Williams were worth $525,000 at the end of the most recent quarter. Institutional investors and hedge funds own 77.67% of the company's stock.

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.