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 given 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 0.88%. The ex-dividend date is Thursday, August 15th.
Sherwin-Williams has raised its dividend by an average of 8.7% annually over the last three years and has raised 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 $24.13 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%.
Sherwin-Williams stock opened at $515.73 on Tuesday. 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’s 50-day moving average is $482.63. Sherwin-Williams has a 1 year low of $355.28 and a 1 year high of $524.00. The firm has a market cap of $47.95 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 2.04 and a beta of 1.28.
In related news, Director Susan J. Kropf sold 1,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $478.11, for a total value of $478,110.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeff M. Fettig purchased 500 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was acquired at an average price of $432.07 per share, for a total transaction of $216,035.00. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 31,608 shares of company stock worth $15,329,391. Company insiders own 0.50% of the company’s stock.
Several equities analysts recently issued reports on SHW shares. Susquehanna Bancshares boosted their price objective on Sherwin-Williams from $545.00 to $580.00 and gave the company a “positive” rating in a research report on Thursday, July 25th. Robert W. Baird upped their price target on Sherwin-Williams from $480.00 to $525.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Barclays upped their price target on Sherwin-Williams from $470.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on Sherwin-Williams from $435.00 to $490.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Sherwin-Williams in a research report on Monday, July 29th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Sherwin-Williams presently has a consensus rating of “Buy” and an average 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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