Sherwin-Williams Co (NYSE:SHW) declared a quarterly dividend on Wednesday, October 16th, RTT News reports. Shareholders of record on Friday, November 15th will be given a dividend of 1.13 per share by the specialty chemicals company on Friday, December 6th. This represents a $4.52 dividend on an annualized basis and a yield of 0.80%.
Sherwin-Williams has raised its dividend by an average of 8.7% per year 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% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sherwin-Williams to earn $24.19 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%.
Sherwin-Williams stock traded up $5.35 during midday trading on Wednesday, reaching $564.24. The company’s stock had a trading volume of 403,756 shares, compared to its average volume of 567,327. Sherwin-Williams has a 52 week low of $355.28 and a 52 week high of $565.15. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 2.29. The business has a 50-day moving average price of $539.57 and a 200-day moving average price of $483.86. The stock has a market cap of $50.74 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 2.16 and a beta of 1.27.
SHW has been the topic of a number of recent analyst reports. KeyCorp lifted their target price on Sherwin-Williams from $500.00 to $525.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Royal Bank of Canada lifted their target price on Sherwin-Williams to $550.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Barclays boosted their price target on Sherwin-Williams from $470.00 to $505.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Robert W. Baird set a $600.00 price target on Sherwin-Williams and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Co boosted their price target on Sherwin-Williams from $510.00 to $565.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Sherwin-Williams has an average rating of “Buy” and a consensus target price of $543.85.
In related news, insider David B. Sewell sold 4,709 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $493.52, for a total value of $2,323,985.68. Following the sale, the insider now directly owns 12,604 shares in the company, valued at $6,220,326.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter J. Ippolito sold 5,284 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $513.05, for a total value of $2,710,956.20. Following the completion of the sale, the insider now owns 4,284 shares in the company, valued at $2,197,906.20. The disclosure for this sale can be found here. Insiders sold 12,121 shares of company stock worth $6,134,153 over the last quarter. 0.50% of the stock is currently owned by company insiders.
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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