W W Grainger Inc (NYSE:GWW) Shares Bought by FIL Ltd
FIL Ltd lifted its stake in W W Grainger Inc (NYSE:GWW) by 68.1% in the first quarter, HoldingsChannel.com reports. The fund owned 4,882 shares of the industrial products company’s stock after purchasing an additional 1,978 shares during the period. FIL Ltd’s holdings in W W Grainger were worth $1,470,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Wedbush Securities Inc. grew its stake in shares of W W Grainger by 4.3% in the first quarter. Wedbush Securities Inc. now owns 974 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 40 shares during the period. Lincoln National Corp boosted its holdings in shares of W W Grainger by 5.6% in the fourth quarter. Lincoln National Corp now owns 873 shares of the industrial products company’s stock worth $246,000 after buying an additional 46 shares during the last quarter. ETF Managers Group LLC boosted its holdings in shares of W W Grainger by 10.6% in the first quarter. ETF Managers Group LLC now owns 511 shares of the industrial products company’s stock worth $154,000 after buying an additional 49 shares during the last quarter. Neuburgh Advisers LLC boosted its holdings in shares of W W Grainger by 0.3% in the fourth quarter. Neuburgh Advisers LLC now owns 20,878 shares of the industrial products company’s stock worth $5,895,000 after buying an additional 66 shares during the last quarter. Finally, Trillium Asset Management LLC boosted its holdings in shares of W W Grainger by 3.1% in the fourth quarter. Trillium Asset Management LLC now owns 2,273 shares of the industrial products company’s stock worth $642,000 after buying an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 74.45% of the company’s stock.
A number of research firms recently issued reports on GWW. ValuEngine raised shares of W W Grainger from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. Zacks Investment Research downgraded shares of W W Grainger from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Gordon Haskett raised shares of W W Grainger from an “underperform” rating to a “hold” rating and set a $264.58 price objective on the stock in a report on Friday, May 17th. Morgan Stanley dropped their price objective on shares of W W Grainger from $273.00 to $258.00 and set an “underweight” rating on the stock in a report on Friday. Finally, William Blair reissued a “market perform” rating on shares of W W Grainger in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $308.06.
W W Grainger (NYSE:GWW) last announced its quarterly earnings results on Monday, April 22nd. The industrial products company reported $4.51 earnings per share for the quarter, topping the consensus estimate of $4.42 by $0.09. W W Grainger had a net margin of 7.12% and a return on equity of 46.09%. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the business posted $4.18 earnings per share. W W Grainger’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, analysts anticipate that W W Grainger Inc will post 17.94 EPS for the current year.
W W Grainger announced that its Board of Directors has authorized a stock repurchase program on Wednesday, April 24th that allows the company to repurchase 5,000,000 outstanding shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Monday, May 13th were given a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 2.11%. The ex-dividend date was Friday, May 10th. This is a boost from W W Grainger’s previous quarterly dividend of $1.36. W W Grainger’s payout ratio is currently 34.49%.
W W Grainger Company Profile
W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) products and services in the United States, Canada, Europe, Japan, Mexico, and internationally. The company provides material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, and metalworking tools, as well as gloves, ladders, motors, and janitorial supplies.
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