5 Best Dividend Stocks To Buy and Hold

3. The Sherwin-Williams Company (NYSE:SHW)

Number of Hedge Fund Holders: 64
Dividend Yield as of April 21: 1.04%

The Sherwin-Williams Company (NYSE:SHW) is an American paint and coating manufacturing company, based in Ohio. It currently pays a quarterly dividend of $0.605 per share for a dividend yield of 1.04%, as of April 21. The company holds a 44-year track record of consistent dividend growth, which makes it one of the best dividend stocks on our list.

In April, Mizuho raised its price target on The Sherwin-Williams Company (NYSE:SHW) to $263 and maintained a Buy rating on the shares, ahead of the company’s Q1 earnings.

As per Insider Monkey’s Q4 2022 database, 64 hedge funds reported having stakes in The Sherwin-Williams Company (NYSE:SHW), up from 63 in the previous quarter. These stakes have a total value of over $2.44 billion.

ClearBridge Investments mentioned The Sherwin-Williams Company (NYSE:SHW) in its Q4 2022 investor letter. Here is what the firm has to say:

“A third approach to return generation is purchasing idiosyncratic businesses that largely control their own destiny. We saw mixed results from this group in the fourth quarter, with paint and coatings maker The Sherwin-Williams Company (NYSE:SHW) benefiting from significant pricing power that will allow it to grow earnings handsomely with only modest revenue increases.”