Fintel reports that on September 8, 2023, Evercore ISI Group maintained coverage of Sherwin-Williams (NYSE:SHW) with a Outperform recommendation.
Analyst Price Forecast Suggests 12.50% Upside
As of August 31, 2023, the average one-year price target for Sherwin-Williams is 305.36. The forecasts range from a low of 226.24 to a high of $346.50. The average price target represents an increase of 12.50% from its latest reported closing price of 271.42.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Sherwin-Williams is 23,291MM, an increase of 1.44%. The projected annual non-GAAP EPS is 10.35.
Sherwin-Williams Declares $0.60 Dividend
On July 19, 2023 the company declared a regular quarterly dividend of $0.60 per share ($2.42 annualized). Shareholders of record as of August 18, 2023 received the payment on September 8, 2023. Previously, the company paid $0.60 per share.
At the current share price of $271.42 / share, the stock's dividend yield is 0.89%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.88%, the lowest has been 0.64%, and the highest has been 1.35%. The standard deviation of yields is 0.14 (n=236).
The current dividend yield is 0.05 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.27. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.35%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 2215 funds or institutions reporting positions in Sherwin-Williams. This is a decrease of 41 owner(s) or 1.82% in the last quarter. Average portfolio weight of all funds dedicated to SHW is 0.44%, an increase of 5.90%. Total shares owned by institutions decreased in the last three months by 2.03% to 228,700K shares. 
The put/call ratio of SHW is 0.44, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,236K shares representing 2.82% ownership of the company. In it's prior filing, the firm reported owning 7,202K shares, representing an increase of 0.46%. The firm increased its portfolio allocation in SHW by 9.50% over the last quarter.
Massachusetts Financial Services holds 5,822K shares representing 2.27% ownership of the company. In it's prior filing, the firm reported owning 7,355K shares, representing a decrease of 26.33%. The firm decreased its portfolio allocation in SHW by 9.95% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 5,588K shares representing 2.17% ownership of the company. In it's prior filing, the firm reported owning 5,503K shares, representing an increase of 1.52%. The firm increased its portfolio allocation in SHW by 8.64% over the last quarter.
Price T Rowe Associates holds 4,989K shares representing 1.94% ownership of the company. In it's prior filing, the firm reported owning 7,658K shares, representing a decrease of 53.51%. The firm increased its portfolio allocation in SHW by 61.60% over the last quarter.
Geode Capital Management holds 4,275K shares representing 1.66% ownership of the company. In it's prior filing, the firm reported owning 4,180K shares, representing an increase of 2.24%. The firm increased its portfolio allocation in SHW by 9.30% over the last quarter.
Sherwin-Williams Background Information
(This description is provided by the company.)
Founded in 1866, The Sherwin-Williams Company is a global leader in the manufacture, development, distribution, and sale of paints, coatings and related products to professional, industrial, commercial, and retail customers. Sherwin-Williams manufactures products under well-known brands such as Sherwin-Williams®, Valspar®, HGTV HOME® by Sherwin-Williams, Dutch Boy®, Krylon®, Minwax®, Thompson's® Water Seal®, Cabot® and many more. With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded products are sold exclusively through a chain of more than 4,900 company operated stores and facilities, while the company's other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers, and industrial distributors. The Sherwin-Williams Performance Coatings Group supplies a broad range of highly-engineered solutions for the construction, industrial, packaging and transportation markets in more than 120 countries around the world.
Additional reading:
- NEWS The Sherwin-Williams Company • 101 W. Prospect Avenue • Cleveland, Ohio 44115 • (216) 566-2000
- filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K dated July 18, 2023, and incorporated herein by reference.
- The Sherwin-Williams Company • 101 W. Prospect Avenue • Cleveland, Ohio 44115 • (216) 566-2000 The Sherwin-Williams Company Elects New Director Thomas L. Williams, Executive Chairman of Parker-Hannifin Corporation, joins the Board
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