W.W. Grainger Inc. (GWW) Position Decreased by Seaward Management Limited Partnership
Seaward Management Limited Partnership reduced its position in W.W. Grainger Inc. (NYSE:GWW) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 51,355 shares of the company’s stock after selling 690 shares during the period. Seaward Management Limited Partnership’s holdings in W.W. Grainger were worth $11,670,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in W.W. Grainger during the second quarter worth $205,000. Cypress Wealth Advisors LLC bought a new stake in shares of W.W. Grainger during the first quarter worth approximately $225,000. Atria Investments LLC bought a new stake in shares of W.W. Grainger during the second quarter worth approximately $239,000. Charter Trust Co. increased its stake in shares of W.W. Grainger by 14.1% in the second quarter. Charter Trust Co. now owns 1,114 shares of the company’s stock worth $254,000 after buying an additional 138 shares during the period. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of W.W. Grainger during the first quarter worth approximately $257,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.
W.W. Grainger Inc. (NYSE:GWW) traded down 1.80% during trading on Tuesday, reaching $216.59. 415,169 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $226.45 and a 200-day moving average price of $226.55. The firm has a market cap of $13.09 billion, a PE ratio of 19.70 and a beta of 0.77. W.W. Grainger Inc. has a 12 month low of $176.85 and a 12 month high of $239.95.
W.W. Grainger (NYSE:GWW) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $2.89 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by $0.28. The firm had revenue of $2.60 million for the quarter, compared to the consensus estimate of $2.58 billion. W.W. Grainger had a return on equity of 31.26% and a net margin of 6.91%. During the same period in the prior year, the business earned $3.27 earnings per share. On average, analysts forecast that W.W. Grainger Inc. will post $11.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 8th were given a dividend of $1.22 per share. The ex-dividend date was Thursday, August 4th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.25%. W.W. Grainger’s dividend payout ratio is 44.40%.
A number of equities research analysts have recently commented on the company. Zacks Investment Research downgraded W.W. Grainger from a “hold” rating to a “sell” rating in a research report on Tuesday, September 13th. BMO Capital Markets cut their price objective on W.W. Grainger from $300.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. Macquarie assumed coverage on W.W. Grainger in a research report on Thursday, August 25th. They set an “outperform” rating and a $274.00 price objective for the company. Royal Bank Of Canada cut their price objective on W.W. Grainger from $197.00 to $187.00 and set an “underperform” rating for the company in a research report on Wednesday, July 20th. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of W.W. Grainger in a research report on Sunday, September 4th. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $228.75.
In other news, VP Joseph C. High sold 1,722 shares of W.W. Grainger stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $220.00, for a total transaction of $378,840.00. Following the transaction, the vice president now directly owns 7,531 shares of the company’s stock, valued at $1,656,820. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 9.60% of the company’s stock.
About W.W. Grainger
W.W. Grainger, Inc (Grainger) is a distributor of maintenance, repair and operating (MRO) supplies and other related products and services. The Company offers its products and services to businesses and institutions in the United States and Canada, with presence also in Europe, Asia and Latin America.
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