Sherwin-Williams Co (NYSE:SHW) declared a quarterly dividend on Wednesday, July 17th, RTT News reports. Investors 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 yield of 0.88%. The ex-dividend date of this dividend is Thursday, August 15th.
Sherwin-Williams has increased its dividend payment by an average of 8.7% annually over the last three years and has increased its dividend every year for the last 40 years. Sherwin-Williams has a payout ratio of 23.4% indicating that 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 SHW stock opened at $515.73 on Tuesday. Sherwin-Williams has a one year low of $355.28 and a one year high of $524.00. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 2.29. The stock’s 50 day moving average is $482.63. The firm has a market capitalization of $47.95 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 2.04 and a beta of 1.28.
In other Sherwin-Williams news, Director David F. Hodnik sold 501 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $521.57, for a total transaction of $261,306.57. Following the transaction, the director now directly owns 9,569 shares in the company, valued at approximately $4,990,903.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jane M. Cronin sold 1,627 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $515.00, for a total transaction of $837,905.00. Following the transaction, the senior vice president now owns 3,598 shares in the company, valued at $1,852,970. The disclosure for this sale can be found here. Insiders have sold a total of 31,608 shares of company stock worth $15,329,391 over the last quarter. 0.50% of the stock is currently owned by insiders.
Several research firms have issued reports on SHW. Buckingham Research boosted their price objective on shares of Sherwin-Williams from $440.00 to $460.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Deutsche Bank boosted their price objective on shares of Sherwin-Williams from $490.00 to $550.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Robert W. Baird boosted their price objective on shares of Sherwin-Williams from $480.00 to $525.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Argus boosted their price objective on shares of Sherwin-Williams from $480.00 to $527.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Barclays boosted their price objective on shares of Sherwin-Williams from $470.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $513.37.
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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