Convergence Investment Partners LLC acquired a new position in shares of W W Grainger Inc (NYSE:GWW) during the 2nd quarter, HoldingsChannel reports. The firm acquired 2,743 shares of the industrial products company’s stock, valued at approximately $862,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in GWW. Amundi Pioneer Asset Management Inc. raised its stake in W W Grainger by 0.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 56,676 shares of the industrial products company’s stock worth $17,056,000 after acquiring an additional 164 shares during the period. Profund Advisors LLC increased its stake in shares of W W Grainger by 10.4% in the fourth quarter. Profund Advisors LLC now owns 868 shares of the industrial products company’s stock valued at $294,000 after purchasing an additional 82 shares during the period. Pensionfund Sabic increased its stake in shares of W W Grainger by 13.7% in the first quarter. Pensionfund Sabic now owns 5,800 shares of the industrial products company’s stock valued at $1,441,000 after purchasing an additional 700 shares during the period. American National Bank increased its stake in shares of W W Grainger by 966.7% in the first quarter. American National Bank now owns 1,600 shares of the industrial products company’s stock valued at $398,000 after purchasing an additional 1,450 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of W W Grainger by 7.7% in the first quarter. State of Alaska Department of Revenue now owns 18,552 shares of the industrial products company’s stock valued at $4,609,000 after purchasing an additional 1,332 shares during the period. Hedge funds and other institutional investors own 70.45% of the company’s stock.
NYSE:GWW traded up $1.74 during trading hours on Friday, reaching $341.53. 478,059 shares of the company’s stock were exchanged, compared to its average volume of 371,680. The company has a market capitalization of $18.30 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 2.28 and a beta of 0.99. W W Grainger Inc has a 12 month low of $200.61 and a 12 month high of $347.45. The company has a quick ratio of 2.32, a current ratio of 3.54 and a debt-to-equity ratio of 1.53. The business’s 50-day simple moving average is $316.78 and its two-hundred day simple moving average is $295.49.
W W Grainger (NYSE:GWW) last issued its earnings results on Thursday, July 23rd. The industrial products company reported $3.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.39 by $0.36. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.77 billion. W W Grainger had a net margin of 5.34% and a return on equity of 42.19%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted $4.64 earnings per share. As a group, sell-side analysts anticipate that W W Grainger Inc will post 15.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 10th will be given a $1.53 dividend. This represents a $6.12 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Friday, August 7th. This is an increase from W W Grainger’s previous quarterly dividend of $1.44. W W Grainger’s dividend payout ratio is 33.31%.
Several research analysts have recently issued reports on the stock. Stephens decreased their price objective on shares of W W Grainger from $322.00 to $300.00 in a report on Sunday, April 19th. Morgan Stanley increased their price objective on shares of W W Grainger from $324.00 to $366.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of W W Grainger from $270.00 to $291.00 and gave the company a “neutral” rating in a report on Tuesday, June 23rd. Oppenheimer decreased their price objective on shares of W W Grainger from $335.00 to $325.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Finally, Royal Bank of Canada reiterated a “sell” rating and issued a $241.00 price objective on shares of W W Grainger in a report on Monday, July 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $329.75.
In related news, VP Paige K. Robbins sold 3,840 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $312.66, for a total value of $1,200,614.40. Following the completion of the sale, the vice president now owns 15,033 shares in the company, valued at approximately $4,700,217.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 13.97% of the stock is currently owned by corporate insiders.
W W Grainger Profile
W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) products and services in the United States, Canada, Europe, Japan, Mexico, and internationally. The company provides material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, and metalworking tools, as well as gloves, ladders, motors, and janitorial supplies.
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