Redpoint Investment Management Pty Ltd trimmed its holdings in W W Grainger Inc (NYSE:GWW) by 27.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,591 shares of the industrial products company’s stock after selling 611 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in W W Grainger were worth $427,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kavar Capital Partners LLC purchased a new position in W W Grainger in the second quarter valued at approximately $26,000. Arrow Financial Corp increased its holdings in shares of W W Grainger by 41.7% in the second quarter. Arrow Financial Corp now owns 170 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 50 shares during the period. Parallel Advisors LLC increased its holdings in shares of W W Grainger by 34.1% in the second quarter. Parallel Advisors LLC now owns 181 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 46 shares during the period. TRUE Private Wealth Advisors bought a new position in shares of W W Grainger in the second quarter worth $67,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of W W Grainger by 281.4% in the first quarter. Quadrant Capital Group LLC now owns 267 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 197 shares during the period. 72.46% of the stock is owned by institutional investors.
Several research analysts have recently weighed in on the stock. Buckingham Research upped their price target on shares of W W Grainger from $291.00 to $295.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Stephens upped their price target on shares of W W Grainger from $292.00 to $305.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Morgan Stanley upped their price target on shares of W W Grainger from $258.00 to $276.00 and gave the stock an “underweight” rating in a report on Monday, July 29th. Zacks Investment Research raised shares of W W Grainger from a “sell” rating to a “hold” rating and set a $315.00 price target on the stock in a report on Friday, July 26th. Finally, Atlantic Securities cut shares of W W Grainger from a “neutral” rating to an “underweight” rating in a report on Friday, June 21st. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $301.53.
GWW traded up $3.36 during trading on Thursday, reaching $271.74. The stock had a trading volume of 2,226 shares, compared to its average volume of 439,836. The stock has a market cap of $14.60 billion, a PE ratio of 16.27, a PEG ratio of 1.36 and a beta of 0.92. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.32 and a current ratio of 2.38. W W Grainger Inc has a one year low of $255.09 and a one year high of $364.08. The business has a 50-day moving average of $274.50 and a 200-day moving average of $284.17.
W W Grainger (NYSE:GWW) last released its earnings results on Wednesday, July 24th. The industrial products company reported $4.64 EPS for the quarter, missing the Zacks’ consensus estimate of $4.65 by ($0.01). The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.97 billion. W W Grainger had a net margin of 7.32% and a return on equity of 46.27%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.37 EPS. Equities research analysts forecast that W W Grainger Inc will post 17.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Monday, August 12th will be paid a $1.44 dividend. The ex-dividend date is Friday, August 9th. This represents a $5.76 dividend on an annualized basis and a yield of 2.12%. W W Grainger’s dividend payout ratio is presently 34.49%.
In related news, VP Eric R. Tapia sold 180 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $272.58, for a total value of $49,064.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.50% of the stock is owned by corporate insiders.
About W W Grainger
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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