State Board of Administration of Florida Retirement System Boosts Position in W.W. Grainger, Inc. (GWW)
State Board of Administration of Florida Retirement System increased its stake in shares of W.W. Grainger, Inc. (NYSE:GWW) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,029 shares of the industrial products company’s stock after buying an additional 1,254 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.15% of W.W. Grainger worth $15,170,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. Harfst & Associates Inc. acquired a new position in shares of W.W. Grainger during the first quarter worth $116,000. Salem Investment Counselors Inc. acquired a new position in shares of W.W. Grainger during the first quarter worth $138,000. Chicago Partners Investment Group LLC raised its position in shares of W.W. Grainger by 18,650.0% in the second quarter. Chicago Partners Investment Group LLC now owns 750 shares of the industrial products company’s stock worth $155,000 after buying an additional 746 shares in the last quarter. NEXT Financial Group Inc raised its position in shares of W.W. Grainger by 35.0% in the first quarter. NEXT Financial Group Inc now owns 783 shares of the industrial products company’s stock worth $151,000 after buying an additional 203 shares in the last quarter. Finally, Twin Tree Management LP acquired a new position in shares of W.W. Grainger during the first quarter worth $195,000. Institutional investors own 80.55% of the company’s stock.
Shares of W.W. Grainger, Inc. (GWW) opened at 159.79 on Monday. The stock has a market capitalization of $9.22 billion, a P/E ratio of 18.42 and a beta of 0.74. The stock has a 50 day moving average of $167.12 and a 200-day moving average of $199.00. W.W. Grainger, Inc. has a one year low of $158.12 and a one year high of $262.71.
W.W. Grainger (NYSE:GWW) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.65 by $0.09. W.W. Grainger had a return on equity of 34.03% and a net margin of 5.08%. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period last year, the company earned $2.89 earnings per share. W.W. Grainger’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts forecast that W.W. Grainger, Inc. will post $10.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be paid a $1.28 dividend. This represents a $5.12 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Thursday, August 10th. W.W. Grainger’s dividend payout ratio is presently 59.12%.
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A number of brokerages have weighed in on GWW. UBS AG reiterated a “neutral” rating and set a $180.00 target price (down previously from $275.00) on shares of W.W. Grainger in a research report on Wednesday, May 24th. KeyCorp reiterated a “sector weight” rating on shares of W.W. Grainger in a research report on Monday, August 21st. BidaskClub upgraded shares of W.W. Grainger from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Macquarie lowered shares of W.W. Grainger from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $286.00 to $200.00 in a research report on Friday, May 26th. Finally, Northcoast Research began coverage on shares of W.W. Grainger in a research report on Tuesday, July 25th. They set a “neutral” rating for the company. Five research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $180.33.
W.W. Grainger Company Profile
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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