W.W. Grainger, Inc. (GWW) Stake Maintained by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan continued to hold its position in shares of W.W. Grainger, Inc. (NYSE:GWW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,770 shares of the industrial products company’s stock at the end of the second quarter. Municipal Employees Retirement System of Michigan’s holdings in W.W. Grainger were worth $320,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in W.W. Grainger by 3.7% in the first quarter. Vanguard Group Inc. now owns 5,438,209 shares of the industrial products company’s stock worth $1,265,798,000 after buying an additional 192,967 shares in the last quarter. BlackRock Inc. raised its position in W.W. Grainger by 1,509.4% in the first quarter. BlackRock Inc. now owns 3,417,297 shares of the industrial products company’s stock worth $795,411,000 after buying an additional 3,204,962 shares in the last quarter. Clearbridge Investments LLC raised its position in W.W. Grainger by 12.1% in the first quarter. Clearbridge Investments LLC now owns 1,070,611 shares of the industrial products company’s stock worth $249,195,000 after buying an additional 115,704 shares in the last quarter. Wellington Management Group LLP bought a new position in W.W. Grainger during the first quarter worth about $147,000,000. Finally, Geode Capital Management LLC raised its position in W.W. Grainger by 17.7% in the first quarter. Geode Capital Management LLC now owns 619,258 shares of the industrial products company’s stock worth $143,962,000 after buying an additional 92,936 shares in the last quarter. 80.55% of the stock is currently owned by institutional investors.
Shares of W.W. Grainger, Inc. (NYSE:GWW) opened at 157.16 on Wednesday. The firm has a market cap of $9.07 billion, a P/E ratio of 18.12 and a beta of 0.74. W.W. Grainger, Inc. has a 12 month low of $155.10 and a 12 month high of $262.71. The company has a 50-day moving average of $167.12 and a 200-day moving average of $199.00.
W.W. Grainger (NYSE:GWW) last posted its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.09. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.63 billion. W.W. Grainger had a net margin of 5.08% and a return on equity of 34.03%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.89 EPS. Equities analysts forecast that W.W. Grainger, Inc. will post $10.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be given a $1.28 dividend. This represents a $5.12 annualized dividend and a yield of 3.26%. The ex-dividend date is Thursday, August 10th. W.W. Grainger’s payout ratio is presently 59.12%.
A number of research firms recently issued reports on GWW. UBS AG reissued a “neutral” rating and set a $180.00 price target (down previously from $275.00) on shares of W.W. Grainger in a report on Wednesday, May 24th. KeyCorp reissued a “sector weight” rating on shares of W.W. Grainger in a report on Monday, August 21st. BidaskClub raised W.W. Grainger from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Macquarie lowered W.W. Grainger from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $286.00 to $200.00 in a report on Friday, May 26th. Finally, Northcoast Research began coverage on W.W. Grainger in a report on Tuesday, July 25th. They set a “neutral” rating on the stock. Five equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $180.33.
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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