Retirement Systems of Alabama reduced its stake in W.W. Grainger, Inc. (NYSE:GWW – Free Report) by 7.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,292 shares of the industrial products company’s stock after selling 1,116 shares during the quarter. Retirement Systems of Alabama’s holdings in W.W. Grainger were worth $9,156,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Clear Street Markets LLC purchased a new stake in shares of W.W. Grainger in the fourth quarter valued at approximately $26,000. Spire Wealth Management boosted its position in shares of W.W. Grainger by 220.0% during the 4th quarter. Spire Wealth Management now owns 48 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 33 shares in the last quarter. Retirement Group LLC grew its stake in shares of W.W. Grainger by 2,450.0% during the 4th quarter. Retirement Group LLC now owns 51 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 49 shares during the period. International Assets Investment Management LLC purchased a new position in shares of W.W. Grainger in the 1st quarter valued at about $29,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in shares of W.W. Grainger in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 72.65% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have issued reports on GWW. StockNews.com began coverage on shares of W.W. Grainger in a report on Thursday, May 18th. They issued a “buy” rating for the company. Robert W. Baird boosted their target price on W.W. Grainger from $730.00 to $760.00 in a research report on Friday, April 28th. Loop Capital raised their price target on W.W. Grainger from $750.00 to $800.00 in a research report on Monday, May 1st. UBS Group lowered shares of W.W. Grainger from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $815.00 to $820.00 in a research report on Wednesday, July 12th. Finally, Oppenheimer raised their target price on shares of W.W. Grainger from $785.00 to $800.00 in a report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $705.50.
W.W. Grainger Stock Performance
W.W. Grainger (NYSE:GWW – Get Free Report) last posted its quarterly earnings data on Thursday, April 27th. The industrial products company reported $9.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.57 by $1.04. W.W. Grainger had a return on equity of 61.00% and a net margin of 10.65%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the firm earned $7.07 earnings per share. The business’s revenue was up 12.2% on a year-over-year basis. On average, sell-side analysts predict that W.W. Grainger, Inc. will post 35.86 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. Shareholders of record on Monday, May 8th were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, May 5th. This represents a $7.44 dividend on an annualized basis and a yield of 0.97%. This is an increase from W.W. Grainger’s previous quarterly dividend of $1.72. W.W. Grainger’s dividend payout ratio (DPR) is currently 22.82%.
Insider Buying and Selling at W.W. Grainger
In other news, VP Laurie R. Thomson sold 476 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $683.74, for a total transaction of $325,460.24. Following the completion of the sale, the vice president now directly owns 1,731 shares in the company, valued at approximately $1,183,553.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 9.90% of the stock is owned by company insiders.
About W.W. Grainger
W.W. Grainger, Inc distributes maintenance, repair, and operating products and services in the United States, Japan, Canada, the United Kingdom, and internationally. The company operates through two segments, High-Touch Solutions N.A. and Endless Assortment. The company provides safety and security supplies, material handling and storage equipment, pumps and plumbing equipment, cleaning and maintenance supplies, and metalworking and hand tools.
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