First Manhattan Co. Has $278,000 Position in W.W. Grainger, Inc. (NYSE:GWW)
First Manhattan Co. held its stake in shares of W.W. Grainger, Inc. (NYSE:GWW) during the second quarter, Holdings Channel reports. The firm owned 1,544 shares of the industrial products company’s stock at the end of the second quarter. First Manhattan Co.’s holdings in W.W. Grainger were worth $278,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in GWW. Harfst & Associates Inc. purchased a new stake in shares of W.W. Grainger during the first quarter valued at $116,000. Salem Investment Counselors Inc. bought a new position in W.W. Grainger during the first quarter worth approximately $138,000. NEXT Financial Group Inc boosted its position in 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 during the last quarter. Enterprise Financial Services Corp boosted its position in W.W. Grainger by 80.8% in the second quarter. Enterprise Financial Services Corp now owns 902 shares of the industrial products company’s stock worth $163,000 after buying an additional 403 shares during the last quarter. Finally, Mosaic Family Wealth LLC boosted its position in W.W. Grainger by 2.7% in the first quarter. Mosaic Family Wealth LLC now owns 840 shares of the industrial products company’s stock worth $195,000 after buying an additional 22 shares during the last quarter. 82.43% of the stock is currently owned by institutional investors and hedge funds.
W.W. Grainger, Inc. (NYSE:GWW) opened at 163.52 on Friday. The company has a market capitalization of $9.43 billion, a PE ratio of 18.85 and a beta of 0.74. The firm’s 50-day moving average is $171.89 and its 200 day moving average is $206.07. W.W. Grainger, Inc. has a one year low of $160.29 and a one year high of $262.71.
W.W. Grainger (NYSE:GWW) last issued its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.65 by $0.09. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.63 billion. W.W. Grainger had a net margin of 5.08% and a return on equity of 34.03%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.89 earnings per share. On average, equities analysts expect that W.W. Grainger, Inc. will post $10.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be paid a dividend of $1.28 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $5.12 dividend on an annualized basis and a yield of 3.13%. W.W. Grainger’s dividend payout ratio (DPR) is presently 59.12%.
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GWW has been the topic of a number of research analyst reports. TheStreet cut shares of W.W. Grainger from a “b-” rating to a “c+” rating in a report on Thursday, May 11th. Stifel Nicolaus restated a “hold” rating and issued a $180.00 price target (down from $204.00) on shares of W.W. Grainger in a report on Friday, June 2nd. BMO Capital Markets restated a “hold” rating and issued a $198.00 price target on shares of W.W. Grainger in a report on Thursday, May 25th. Stephens set a $190.00 price target on shares of W.W. Grainger and gave the stock a “hold” rating in a report on Wednesday, April 19th. Finally, BidaskClub upgraded shares of W.W. Grainger from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Five investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average price target 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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