Los Angeles Capital Management & Equity Research Inc. grew its stake in W W Grainger Inc (NYSE:GWW) by 0.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 28,219 shares of the industrial products company’s stock after buying an additional 79 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in W W Grainger were worth $7,569,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Comerica Securities Inc. lifted its position in shares of W W Grainger by 11.6% during the fourth quarter. Comerica Securities Inc. now owns 2,024 shares of the industrial products company’s stock worth $571,000 after acquiring an additional 210 shares in the last quarter. Dimensional Fund Advisors LP raised its position in W W Grainger by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 329,535 shares of the industrial products company’s stock valued at $93,049,000 after purchasing an additional 40,688 shares in the last quarter. Geode Capital Management LLC raised its position in W W Grainger by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 698,700 shares of the industrial products company’s stock valued at $196,990,000 after purchasing an additional 24,362 shares in the last quarter. DNB Asset Management AS purchased a new stake in W W Grainger during the first quarter valued at about $3,073,000. Finally, Sciencast Management LP raised its position in W W Grainger by 101.9% during the first quarter. Sciencast Management LP now owns 1,716 shares of the industrial products company’s stock valued at $529,000 after purchasing an additional 866 shares in the last quarter. Institutional investors and hedge funds own 74.28% of the company’s stock.
Shares of NYSE:GWW traded up $6.48 on Tuesday, reaching $269.86. 11,683 shares of the company traded hands, compared to its average volume of 569,162. The business has a 50-day simple moving average of $274.21. W W Grainger Inc has a 52 week low of $255.09 and a 52 week high of $372.06. The stock has a market capitalization of $14.64 billion, a PE ratio of 16.17, a P/E/G ratio of 1.37 and a beta of 0.92. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.38 and a quick ratio of 1.32.
The firm 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 of this dividend is Friday, August 9th. This represents a $5.76 annualized dividend and a dividend yield of 2.13%. W W Grainger’s payout ratio is presently 34.49%.
W W Grainger announced that its board has authorized a stock buyback plan on Wednesday, April 24th that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
GWW has been the topic of a number of research reports. Gordon Haskett upgraded W W Grainger from an “underperform” rating to a “hold” rating and set a $264.58 price target on the stock in a research report on Friday, May 17th. Buckingham Research raised their price target on W W Grainger from $291.00 to $295.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Gabelli restated a “hold” rating on shares of W W Grainger in a research report on Friday, July 26th. William Blair restated a “market perform” rating on shares of W W Grainger in a research report on Monday, April 22nd. Finally, ValuEngine raised W W Grainger from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $301.53.
In other W W Grainger news, VP Eric R. Tapia sold 180 shares of W W Grainger stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $272.58, for a total transaction of $49,064.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.50% of the stock is owned by company 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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