Amundi raised its position in W.W. Grainger, Inc. (NYSE:GWW – Get Rating) by 45.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 413,775 shares of the industrial products company’s stock after purchasing an additional 129,562 shares during the period. Amundi owned 0.82% of W.W. Grainger worth $240,933,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Marshall Wace LLP purchased a new position in W.W. Grainger in the fourth quarter worth $17,431,000. Arrowstreet Capital Limited Partnership grew its position in W.W. Grainger by 120.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 88,596 shares of the industrial products company’s stock worth $49,282,000 after acquiring an additional 48,449 shares in the last quarter. Allstate Investment Management Co. purchased a new position in W.W. Grainger in the fourth quarter worth $630,000. Engineers Gate Manager LP grew its position in W.W. Grainger by 12.6% in the fourth quarter. Engineers Gate Manager LP now owns 1,040 shares of the industrial products company’s stock worth $578,000 after acquiring an additional 116 shares in the last quarter. Finally, Dorsey Wright & Associates purchased a new position in W.W. Grainger in the fourth quarter worth $2,086,000. 71.76% of the stock is owned by institutional investors.
Insider Buying and Selling at W.W. Grainger
In other W.W. Grainger news, CFO Deidra C. Merriwether sold 4,623 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $664.66, for a total transaction of $3,072,723.18. Following the completion of the transaction, the chief financial officer now owns 7,605 shares of the company’s stock, valued at $5,054,739.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Laurie R. Thomson sold 476 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $683.74, for a total transaction of $325,460.24. Following the sale, the vice president now owns 1,731 shares in the company, valued at $1,183,553.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Deidra C. Merriwether sold 4,623 shares of the stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $664.66, for a total transaction of $3,072,723.18. Following the sale, the chief financial officer now owns 7,605 shares in the company, valued at approximately $5,054,739.30. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.
W.W. Grainger Price Performance
W.W. Grainger (NYSE:GWW – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The industrial products company reported $9.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.57 by $1.04. W.W. Grainger had a net margin of 10.65% and a return on equity of 61.00%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the firm earned $7.07 earnings per share. W.W. Grainger’s revenue was up 12.2% on a year-over-year basis. On average, sell-side analysts forecast that W.W. Grainger, Inc. will post 35.83 EPS for the current year.
W.W. Grainger Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Monday, May 8th were paid a $1.86 dividend. This is an increase from W.W. Grainger’s previous quarterly dividend of $1.72. This represents a $7.44 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Friday, May 5th. W.W. Grainger’s dividend payout ratio is presently 22.82%.
Analysts Set New Price Targets
Several brokerages recently issued reports on GWW. 92 Resources reiterated a “maintains” rating on shares of W.W. Grainger in a research report on Friday, April 28th. Oppenheimer upped their price target on shares of W.W. Grainger from $785.00 to $800.00 in a research report on Friday, April 28th. Royal Bank of Canada upgraded shares of W.W. Grainger from an “underperform” rating to a “sector perform” rating and upped their price target for the company from $502.00 to $679.00 in a research report on Thursday, February 23rd. Loop Capital upped their price target on shares of W.W. Grainger from $750.00 to $800.00 in a research report on Monday, May 1st. Finally, Morgan Stanley upped their price target on shares of W.W. Grainger from $537.00 to $555.00 and gave the company an “underweight” rating in a research report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $704.88.
W.W. Grainger Profile
W.W. Grainger, Inc is a supplier of maintenance, repair, and operating products, with operations in North America, Japan, and the United Kingdom. It operates through the following segments: High-Touch Solutions N.A., Endless Assortment, and Other. The High-Touch Solutions N.A. segment is involved in value-added MRO solutions that are rooted in deep product knowledge and customer expertise.
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