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

The Sherwin-Williams Company (NYSE:SHW - Get Free Report) declared a quarterly dividend on Wednesday, July 16th, RTT News reports. Stockholders of record on Friday, August 15th will be given a dividend of 0.79 per share by the specialty chemicals company on Friday, September 5th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, August 15th.

Sherwin-Williams has a dividend payout ratio of 23.8% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE:SHW traded down $2.07 during midday trading on Friday, reaching $337.83. 810,423 shares of the company's stock were exchanged, compared to its average volume of 1,706,670. The company's 50 day simple moving average is $350.03 and its two-hundred day simple moving average is $347.93. The firm has a market capitalization of $84.66 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 3.05 and a beta of 1.18. Sherwin-Williams has a 12 month low of $308.84 and a 12 month high of $400.42. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.45 and a current ratio of 0.77.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.02. The business had revenue of $5.31 billion during the quarter, compared to analysts' expectations of $5.42 billion. Sherwin-Williams had a net margin of 11.63% and a return on equity of 71.86%. The firm's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the company posted $2.17 EPS. Equities research analysts expect that Sherwin-Williams will post 12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on SHW. UBS Group raised their price objective on shares of Sherwin-Williams from $398.00 to $410.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Citigroup lowered shares of Sherwin-Williams from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $405.00 to $385.00 in a research note on Friday, June 13th. Bank of America lifted their price objective on shares of Sherwin-Williams from $289.00 to $296.00 and gave the stock an "underperform" rating in a research note on Monday, June 23rd. Wells Fargo & Company raised shares of Sherwin-Williams from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $350.00 to $420.00 in a research note on Wednesday, April 30th. Finally, Morgan Stanley cut their price target on shares of Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $391.94.

Hedge Funds Weigh In On Sherwin-Williams

An institutional investor recently raised its position in Sherwin-Williams stock. Empowered Funds LLC raised its stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,236 shares of the specialty chemicals company's stock after purchasing an additional 626 shares during the period. Empowered Funds LLC's holdings in Sherwin-Williams were worth $2,178,000 at the end of the most recent quarter. Institutional investors and hedge funds own 77.67% of the company's stock.

Sherwin-Williams Company Profile

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.