Sherwin-Williams Co. (SHW) Announces Quarterly Dividend of $0.84
Sherwin-Williams Co. (NYSE:SHW) announced a quarterly dividend on Tuesday, October 18th. Investors of record on Friday, November 18th will be given a dividend of 0.84 per share on Friday, December 2nd. This represents a $3.36 dividend on an annualized basis and a yield of 1.24%.
Shares of Sherwin-Williams (NYSE:SHW) opened at 270.85 on Wednesday. The company’s 50-day moving average is $276.75 and its 200-day moving average is $289.80. Sherwin-Williams has a 52-week low of $234.96 and a 52-week high of $312.48. The firm has a market cap of $24.86 billion, a P/E ratio of 22.84 and a beta of 0.92.
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 insiders.
Large investors have recently added to or reduced their stakes in the stock. 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.
A number of equities analysts recently weighed in on the company. Wells Fargo & Co. assumed coverage on Sherwin-Williams in a research note on Wednesday, September 28th. They issued a “market perform” rating on the stock. Zacks Investment Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $317.00 price target on the stock in a research note on Monday, September 26th. Argus raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Monday, October 10th. Sterne Agee CRT raised Sherwin-Williams from a “neutral” rating to a “buy” rating in a research note on Thursday, August 25th. Finally, Credit Agricole SA reissued a “buy” rating and issued a $350.00 price target on shares of Sherwin-Williams in a research note on Wednesday, September 14th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $324.85.
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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