Sherwin-Williams Co. (NYSE:SHW) announced a quarterly dividend on Tuesday, October 18th. Investors of record on Friday, November 18th will be paid a dividend of 0.84 per share on Friday, December 2nd. This represents a $3.36 annualized dividend and a yield of 1.25%.
Shares of Sherwin-Williams (NYSE:SHW) traded up 0.33% during mid-day trading on Tuesday, reaching $270.47. The company had a trading volume of 206,700 shares. The stock has a market capitalization of $24.83 billion, a P/E ratio of 22.81 and a beta of 0.92. The firm’s 50 day moving average is $277.21 and its 200-day moving average is $289.92. Sherwin-Williams has a 12-month low of $234.96 and a 12-month high of $312.48.
Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Thursday, July 21st. The company reported $4.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.16 by $0.10. The business earned $3.22 billion during the quarter, compared to the consensus estimate of $3.28 billion. Sherwin-Williams had a net margin of 9.50% and a return on equity of 110.16%. Sherwin-Williams’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.70 EPS. On average, analysts expect that Sherwin-Williams will post $12.64 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on SHW. Morgan Stanley reiterated an “overweight” rating and set a $322.00 target price on shares of Sherwin-Williams in a research note on Wednesday, July 20th. Zacks Investment Research upgraded Sherwin-Williams from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Seaport Global Securities lowered Sherwin-Williams from an “accumulate” rating to a “neutral” rating and set a $320.00 target price on the stock. in a research note on Monday, July 11th. RBC Capital Markets reiterated an “outperform” rating and set a $335.00 target price on shares of Sherwin-Williams in a research note on Saturday, August 13th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $330.00 target price on shares of Sherwin-Williams in a research note on Monday, July 25th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $324.85.
In related news, CEO John G. Morikis sold 30,353 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $298.75, for a total transaction of $9,067,958.75. Following the sale, the chief executive officer now owns 119,804 shares of the company’s stock, valued at approximately $35,791,445. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joel D. Baxter sold 3,853 shares of the firm’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $300.16, for a total value of $1,156,516.48. Following the sale, the insider now directly owns 8,347 shares in the company, valued at approximately $2,505,435.52. The disclosure for this sale can be found here. 1.89% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in SHW. Third Point LLC purchased a new stake in Sherwin-Williams during the second quarter valued at $205,569,000. Capital World Investors purchased a new stake in Sherwin-Williams during the second quarter valued at $120,440,000. Meritage Group LP purchased a new stake in Sherwin-Williams during the second quarter valued at $102,270,000. APG Asset Management N.V. increased its stake in Sherwin-Williams by 77.8% in the second quarter. APG Asset Management N.V. now owns 295,984 shares of the company’s stock valued at $86,922,000 after buying an additional 129,545 shares during the period. Finally, Carlson Capital L P purchased a new stake in Sherwin-Williams during the second quarter valued at $15,869,000. 74.62% of the stock is currently owned by institutional investors.
The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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