Dupont Capital Management Corp trimmed its stake in W W Grainger Inc (NYSE:GWW) by 23.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,528 shares of the industrial products company’s stock after selling 7,232 shares during the quarter. Dupont Capital Management Corp’s holdings in W W Grainger were worth $8,409,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Financial Architects Inc grew its stake in W W Grainger by 1,195.7% in the third quarter. Financial Architects Inc now owns 298 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 275 shares in the last quarter. Sun Life Financial INC grew its stake in W W Grainger by 60.4% in the second quarter. Sun Life Financial INC now owns 409 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 154 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in W W Grainger in the second quarter valued at approximately $178,000. Global Financial Private Capital LLC bought a new position in W W Grainger in the second quarter valued at approximately $203,000. Finally, Mitchell Mcleod Pugh & Williams Inc. bought a new position in W W Grainger in the third quarter valued at approximately $204,000. Hedge funds and other institutional investors own 75.28% of the company’s stock.
A number of analysts have recently issued reports on GWW shares. Oppenheimer raised their price objective on W W Grainger from $350.00 to $380.00 and gave the company an “outperform” rating in a research report on Thursday, July 19th. Longbow Research reaffirmed a “hold” rating on shares of W W Grainger in a research report on Wednesday, October 17th. Gabelli cut W W Grainger from a “buy” rating to a “hold” rating and set a $386.00 price objective for the company. in a research report on Monday, July 16th. UBS Group raised W W Grainger from a “sell” rating to a “neutral” rating and raised their price objective for the company from $240.00 to $340.00 in a research report on Wednesday, July 18th. Finally, Cfra set a $350.00 price objective on W W Grainger and gave the company a “hold” rating in a research report on Wednesday, July 18th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $308.43.
W W Grainger (NYSE:GWW) last released its quarterly earnings results on Tuesday, October 16th. The industrial products company reported $4.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.96 by $0.23. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.84 billion. W W Grainger had a return on equity of 45.22% and a net margin of 6.51%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $2.79 EPS. As a group, equities research analysts anticipate that W W Grainger Inc will post 16.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Monday, November 12th will be issued a dividend of $1.36 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $5.44 annualized dividend and a yield of 1.86%. W W Grainger’s payout ratio is currently 47.47%.
In related news, Director Brian P. Anderson sold 1,000 shares of W W Grainger stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $360.18, for a total transaction of $360,180.00. Following the completion of the sale, the director now directly owns 4,040 shares of the company’s stock, valued at approximately $1,455,127.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP John L. Howard sold 14,990 shares of W W Grainger stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $368.20, for a total value of $5,519,318.00. Following the sale, the vice president now directly owns 58,207 shares of the company’s stock, valued at $21,431,817.40. The disclosure for this sale can be found here. Company insiders own 10.10% of the company’s stock.
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W W Grainger Company Profile
W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) supplies; and other related products and services that are used by businesses and institutions in the United States, Canada, Europe, Asia, and Latin America. The company offers material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, metalworking tools, and various other products.
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