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MarketScreener Homepage  >  Equities  >  Nyse  >  The Sherwin-Williams Company    SHW

THE SHERWIN-WILLIAMS COMPANY

(SHW)
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Sherwin-Williams, NL Industries, Conagra Unit Settle Paint-Ad Lawsuit -- Update

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07/17/2019 | 03:23pm EDT

By Josh Beckerman

Sherwin-Williams Co. (SHW), NL Industries and Conagra Brands ConAgra Grocery Products unit have settled litigation with 10 California counties and cities related to the companies' advertising for lead paint.

San Francisco City Attorney Dennis Herrera said the settlement totaled $305 million.

The federal government banned the use of lead paint in homes in 1978. The companies had argued that they were being penalized for truthful advertising of a product that was legal and commonly used at the time.

Sherwin-Williams said Wednesday the agreement dissolves the residential lead paint abatement program that the plaintiffs sought from the court and "represents a significant reduction in their recovery."

Sherwin-Williams said that while it "continues to believe that this litigation was unfair, unwarranted and unwise, the resolution announced today will enable all parties to move forward and is in the best interests of the Company and its shareholders."

Mr. Herrera said, "We have fought to hold these companies accountable for nearly twenty years, and will finally have needed funds to devote to protecting our children from lead poisoning." He said the settlement provides "flexibility to create more expansive, efficient, and effective clean-up programs."

In May 2018, NL Industries reached a settlement agreement, and recorded a related $62 million pretax charge in the 2018 second quarter. NL said the other defendants filed motions with the trial court objecting to the terms of the settlement.

Write to Josh Beckerman at josh.beckerman@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
CONAGRA BRANDS 2.15% 29.47 Delayed Quote.37.97%
CORN FUTURES (C) - CBR (FLOOR)/C1 2.84% 371 End-of-day quote.-3.80%
NL INDUSTRIES INC -0.61% 3.27 Delayed Quote.-6.27%
THE SHERWIN-WILLIAMS COMPANY 1.90% 530.09 Delayed Quote.32.21%
WHEAT FUTURES (W) - CBR (FLOOR)/C1 0.37% 470.75 End-of-day quote.-6.46%
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Financials (USD)
Sales 2019 18 022 M
EBIT 2019 2 794 M
Net income 2019 1 687 M
Debt 2019 8 462 M
Yield 2019 0,82%
P/E ratio 2019 29,2x
P/E ratio 2020 24,1x
EV / Sales2019 3,17x
EV / Sales2020 2,98x
Capitalization 48 665 M
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Technical analysis trends THE SHERWIN-WILLIAMS COMPA
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TrendsBullishBullishBullish
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 520,62  $
Last Close Price 530,09  $
Spread / Highest target 13,9%
Spread / Average Target -1,79%
Spread / Lowest Target -37,7%
EPS Revisions
Managers
NameTitle
John George Morikis Chairman, President & Chief Executive Officer
Allen Joseph Mistysyn Chief Financial Officer & Senior VP-Finance
Susan J. Kropf Independent Director
David F. Hodnik Independent Director
Arthur F. Anton Independent Director
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