The Sherwin-Williams Company Plans Quarterly Dividend of $0.72 (NYSE:SHW)

The Sherwin-Williams Company (NYSE:SHW) announced a quarterly dividend on Wednesday, July 17th, RTT News reports. Shareholders of record on Friday, August 16th will be paid a dividend of 0.715 per share by the specialty chemicals company on Friday, September 6th. This represents a $2.86 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, August 16th.

Sherwin-Williams has raised its dividend payment by an average of 10.6% per year over the last three years and has raised its dividend every year for the last 47 years. Sherwin-Williams has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sherwin-Williams to earn $12.78 per share next year, which means the company should continue to be able to cover its $2.86 annual dividend with an expected future payout ratio of 22.4%.

Sherwin-Williams Stock Up 0.9 %

NYSE SHW opened at $352.15 on Thursday. The company has a market cap of $88.83 billion, a price-to-earnings ratio of 37.54, a PEG ratio of 2.72 and a beta of 1.16. Sherwin-Williams has a 1-year low of $232.06 and a 1-year high of $356.69. The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17. The company has a 50 day moving average of $318.22 and a 200-day moving average of $318.89.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.19. The firm had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.29 EPS. On average, equities research analysts expect that Sherwin-Williams will post 11.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SHW has been the topic of a number of analyst reports. Mizuho reduced their price objective on shares of Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Redburn Atlantic upgraded shares of Sherwin-Williams to a “strong-buy” rating in a research report on Thursday, July 18th. Morgan Stanley raised their target price on Sherwin-Williams from $338.00 to $375.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Wells Fargo & Company boosted their price target on Sherwin-Williams from $320.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Finally, BMO Capital Markets raised their price objective on Sherwin-Williams from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and an average price target of $355.00.

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.