Sherwin-Williams (NYSE:SHW) Sets New 1-Year High Following Dividend Announcement

Sherwin-Williams Co (NYSE:SHW) reached a new 52-week high on Wednesday after the company announced a dividend. The stock traded as high as $564.81 and last traded at $562.24, with a volume of 117832 shares traded. The stock had previously closed at $558.89.

The newly announced dividend which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 0.80%. Sherwin-Williams’s payout ratio is currently 24.39%.

A number of brokerages have weighed in on SHW. Susquehanna Bancshares raised their price objective on Sherwin-Williams from $545.00 to $580.00 and gave the company a “positive” rating in a report on Thursday, July 25th. Northcoast Research reaffirmed a “neutral” rating on shares of Sherwin-Williams in a research note on Monday, July 29th. Buckingham Research raised their target price on Sherwin-Williams from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. They noted that the move was a valuation call. Credit Suisse Group raised their target price on Sherwin-Williams from $487.00 to $525.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, BMO Capital Markets raised their target price on Sherwin-Williams from $517.00 to $550.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $543.85.

The firm has a market capitalization of $50.77 billion, a price-to-earnings ratio of 30.39, a P/E/G ratio of 2.16 and a beta of 1.27. The business has a 50 day simple moving average of $541.55 and a 200-day simple moving average of $485.18. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.50 and a current ratio of 0.80.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $6.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.35 by $0.22. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.94 billion. Sherwin-Williams had a return on equity of 48.92% and a net margin of 6.61%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company earned $5.73 EPS. Equities analysts predict that Sherwin-Williams Co will post 21.11 earnings per share for the current fiscal year.

In related news, Director David F. Hodnik sold 501 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $521.57, for a total transaction of $261,306.57. Following the completion of the sale, the director now directly owns 9,569 shares of the company’s stock, valued at approximately $4,990,903.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter J. Ippolito sold 5,284 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $513.05, for a total value of $2,710,956.20. Following the sale, the insider now directly owns 4,284 shares of the company’s stock, valued at $2,197,906.20. The disclosure for this sale can be found here. Insiders have sold a total of 12,121 shares of company stock valued at $6,134,153 over the last three months. Corporate insiders own 0.50% of the company’s stock.

Several large investors have recently modified their holdings of SHW. Fulton Breakefield Broenniman LLC acquired a new position in Sherwin-Williams in the 3rd quarter valued at about $307,000. Strategic Advisors LLC acquired a new position in Sherwin-Williams in the 3rd quarter valued at about $232,000. Robeco Institutional Asset Management B.V. grew its position in Sherwin-Williams by 1.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 6,141 shares of the specialty chemicals company’s stock valued at $3,377,000 after acquiring an additional 70 shares in the last quarter. Comprehensive Portfolio Management LLC grew its position in Sherwin-Williams by 1.8% in the 3rd quarter. Comprehensive Portfolio Management LLC now owns 1,629 shares of the specialty chemicals company’s stock valued at $896,000 after acquiring an additional 29 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Sherwin-Williams by 10.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 31,322 shares of the specialty chemicals company’s stock valued at $17,223,000 after acquiring an additional 2,914 shares in the last quarter. 76.70% of the stock is owned by hedge funds and other institutional investors.

Sherwin-Williams Company Profile (NYSE:SHW)

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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