State Farm Mutual Automobile Insurance Co. lifted its stake in shares of W.W. Grainger, Inc. (NYSE:GWW) by 102.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,570 shares of the industrial products company’s stock after acquiring an additional 21,017 shares during the quarter. State Farm Mutual Automobile Insurance Co. owned approximately 0.07% of W.W. Grainger worth $7,505,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Aberdeen Asset Management PLC UK increased its position in shares of W.W. Grainger by 26.9% during the second quarter. Aberdeen Asset Management PLC UK now owns 17,121 shares of the industrial products company’s stock worth $3,091,000 after acquiring an additional 3,628 shares during the period. HPM Partners LLC boosted its stake in W.W. Grainger by 148.7% in the second quarter. HPM Partners LLC now owns 7,462 shares of the industrial products company’s stock valued at $6,781,000 after acquiring an additional 4,462 shares in the last quarter. Commonwealth Bank of Australia boosted its stake in W.W. Grainger by 128.6% in the second quarter. Commonwealth Bank of Australia now owns 16,975 shares of the industrial products company’s stock valued at $3,062,000 after acquiring an additional 9,550 shares in the last quarter. Private Advisor Group LLC boosted its stake in W.W. Grainger by 23.3% in the second quarter. Private Advisor Group LLC now owns 1,312 shares of the industrial products company’s stock valued at $234,000 after acquiring an additional 248 shares in the last quarter. Finally, Ffcm LLC boosted its stake in W.W. Grainger by 6.4% in the second quarter. Ffcm LLC now owns 1,981 shares of the industrial products company’s stock valued at $358,000 after acquiring an additional 119 shares in the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.
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W.W. Grainger, Inc. (GWW) traded down 0.20% during trading on Friday, reaching $168.95. 933,901 shares of the company were exchanged. W.W. Grainger, Inc. has a 12 month low of $155.00 and a 12 month high of $262.71. The firm has a market capitalization of $9.75 billion, a PE ratio of 19.48 and a beta of 0.74. The stock has a 50 day moving average price of $164.36 and a 200 day moving average price of $189.98.
W.W. Grainger (NYSE:GWW) last issued its earnings results on Wednesday, July 19th. The industrial products company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.09. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.63 billion. W.W. Grainger had a return on equity of 34.03% and a net margin of 5.08%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.89 EPS. On average, analysts expect that W.W. Grainger, Inc. will post $10.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 14th were paid a $1.28 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $5.12 annualized dividend and a dividend yield of 3.03%. W.W. Grainger’s payout ratio is 59.12%.
GWW has been the subject of a number of research analyst reports. UBS AG reaffirmed a “neutral” rating and issued a $180.00 price target (down previously from $275.00) on shares of W.W. Grainger in a report on Wednesday, May 24th. Morgan Stanley reduced their target price on shares of W.W. Grainger from $174.00 to $172.00 and set an “underweight” rating for the company in a report on Thursday, July 20th. Northcoast Research started coverage on shares of W.W. Grainger in a report on Tuesday, July 25th. They set a “neutral” rating for the company. Zacks Investment Research raised shares of W.W. Grainger from a “sell” rating to a “hold” rating in a report on Friday, July 21st. Finally, Macquarie cut shares of W.W. Grainger from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $286.00 to $200.00 in a report on Friday, May 26th. Five investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $179.42.
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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