While all-weather dividend growth stocks may hold up better than their more volatile peers, avoiding sell-offs altogether is impossible. No matter how high quality the stock's operations may be, the broader economic market may affect boring-looking stocks in ways investors could not have imagined.

Consider the 2020 pandemic and how its impacts were a tailwind initially for Sherwin-Williams (SHW -0.03%) and Domino's Pizza (DPZ -0.60%). With its customers stuck at home, many people turned to Sherwin-Williams products to freshen up their homes or relied upon Domino's quick delivery for an easy pizza night.

The two stocks saw outsized growth and profitability early during the pandemic but have struggled since, trying to lap formidable comparable figures.

However, this leaves investors with a compelling opportunity to buy these all-weather dividend stocks at lower prices. So let's dive in and see what makes today an exciting time to consider these two stocks' robust operations.

1. Sherwin-Williams

Sherwin-Williams is the world's largest paint and coating manufacturer, recording an all-time-high $22 billion in sales in the last year. However, facing pandemic-aided figures from late 2020 and early 2021, Sherwin Williams saw its stock price drop 15% over the last year.

It was further plagued by higher raw material prices from an inflationary environment, causing its cost of goods sold to balloon.

SHW Cost of Goods Sold (% of Quarterly Revenues) Chart

SHW Cost of Goods Sold (% of Quarterly Revenues) data by YCharts

Ultimately, Sherwin-Williams sees incredible efficiencies during boom cycles when all is well through its global, end-to-end supply chain. However, it also has to put out a lot of fires in more difficult times, making it somewhat cyclical. 

So facing these temporary issues -- what makes Sherwin-Williams an all-weather stock to add $1,000 to today?

First, it has a wide moat thanks to cost advantages from its supply chain, its efficient scale in the paint industry, and its vast network of almost 5,000 stores worldwide. Proving the power of this moat, the company has averaged a return on invested capital (ROIC) of 19% over the last two decades.

A stock's ROIC shows its profitability compared to its overall debt and equity. For example, Sherwin-Williams' average of 19% since 2002 would place it in the top quartile of ROICs among the current stocks in the S&P 500 index. These top-tier ROIC generators are proven to outperform their peers over time, highlighting the value wide moats generate.

Furthermore, Sherwin-Williams has become a shareholder returns wizard thanks to this strong profitability. While the company only raised its 1% dividend by $0.02 in 2023 as a precaution with today's environment, it managed to increase its dividends by 331% in the last decade. This dividend only amounts to 27% of its net income, leaving room for future raises -- adding to its 44 years of consecutive dividend increases.

On top of this, the company also continues to reward investors with steady stock buybacks, lowering its outstanding shares by 16% over the last 10 years.

With a price-to-earnings ratio of 31, Sherwin-Williams's steady business commands a premium. However, its wide moat, strong shareholder returns, and stable profitability in trying times make Sherwin-Williams an outstanding all-weather dividend stock to buy after its recent drop.

2. Domino's Pizza

In much the same way Sherwin-Williams thrived amid the lockdown, Domino's Pizza would also be considered a pandemic darling of sorts. While not thriving to the same extent as Zoom, for example, Domino's reported double-digit sales growth for five straight quarters at the end of 2020 and into 2021.

Thanks to its robust carryout operations and ability to implement a contact-free pickup option during the pandemic, Domino's succeeded despite the challenging environment. This success sent its stock skyward, only to tumble over 36% since its all-time highs.

Facing tough comparables from the previous year, Domino's growth stalled as pandemic restrictions eased and its customers were hungry for more authentic dining experiences. Further held back by inflation spurring higher ingredient costs and issues finding labor for its stores, the company recorded three straight quarters of declining earnings per share (EPS) to start 2022.

So what on Earth makes Domino's Pizza an all-weather stock to buy right now?

First, if we move out on the timeline regarding this declining EPS, we can see that it looks like nothing more than a dip in the larger scope of things.

DPZ Normalized Diluted EPS (TTM) Chart

DPZ Normalized Diluted EPS (TTM) data by YCharts

Similarly, its incredible ROIC remains among the highest in the S&P 500 index, despite lowering recently.

On top of this, despite its customers being price conscious, Domino's didn't experience a sales drop despite raising prices by roughly 5% year over year in the third quarter. In fact, carryout sales grew 20% in Q3, and the company is now the largest carryout pizza brand in the U.S. 

Additionally, the company lowered its share count by 37% over the last decade, while its dividend payments jumped 450% over the same time frame. Despite this tremendous increase, its 1.2% dividend only uses 34% of the company's net income, leaving a solid dividend growth runway.

Domino's trades at 29 times earnings, slightly below its 10-year average of 34. Recording three consecutive quarters of sales growth despite implementing gradual price increases, Domino's makes for an excellent shareholder returns-focused company to add at a discount.