Kavar Capital Partners LLC bought a new position in shares of W W Grainger Inc (NYSE:GWW) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 96 shares of the industrial products company’s stock, valued at approximately $26,000.
Several other institutional investors have also recently bought and sold shares of GWW. Arrow Financial Corp raised its stake in 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 buying an additional 50 shares in the last quarter. TRUE Private Wealth Advisors bought a new position in W W Grainger in the second quarter worth about $67,000. Quadrant Capital Group LLC raised its stake in 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 buying an additional 197 shares in the last quarter. Mascoma Wealth Management LLC bought a new position in W W Grainger in the first quarter worth about $120,000. Finally, Amica Retiree Medical Trust bought a new position in W W Grainger in the second quarter worth about $131,000. Institutional investors own 74.28% of the company’s stock.
In other W W Grainger news, VP Eric R. Tapia sold 180 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $272.58, for a total transaction of $49,064.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is currently owned by company insiders.
W W Grainger (NYSE:GWW) last announced its earnings results on Wednesday, July 24th. The industrial products company reported $4.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.65 by ($0.01). W W Grainger had a net margin of 7.32% and a return on equity of 46.27%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the prior year, the business posted $4.37 EPS. W W Grainger’s revenue for the quarter was up 1.1% on a year-over-year basis. Analysts forecast that W W Grainger Inc will post 17.66 earnings per share for the current fiscal year.
W W Grainger declared that its Board of Directors has authorized a share buyback plan on Wednesday, April 24th that allows the company to buyback 5,000,000 shares. This buyback authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Monday, August 12th will be paid a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, August 9th. W W Grainger’s dividend payout ratio is 34.49%.
A number of research firms recently issued reports on GWW. Gordon Haskett raised shares of W W Grainger from an “underperform” rating to a “hold” rating and set a $264.58 price target for the company in a research note on Friday, May 17th. Gabelli reissued a “hold” rating on shares of W W Grainger in a research note on Friday, July 26th. Buckingham Research increased their price target on shares of W W Grainger from $291.00 to $295.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. BMO Capital Markets decreased their price target on shares of W W Grainger from $320.00 to $310.00 and set a “market perform” rating for the company in a research note on Tuesday, April 23rd. Finally, ValuEngine raised shares of 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 given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $301.53.
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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