W.W. Grainger, Inc. (GWW) Stake Lowered by Comerica Bank
Comerica Bank lowered its position in W.W. Grainger, Inc. (NYSE:GWW) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,619 shares of the industrial products company’s stock after selling 259 shares during the period. Comerica Bank’s holdings in W.W. Grainger were worth $3,607,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Harfst & Associates Inc. bought a new stake in W.W. Grainger during the first quarter valued at $116,000. Salem Investment Counselors Inc. bought a new stake in W.W. Grainger during the first quarter valued at $138,000. NEXT Financial Group Inc increased its stake 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 valued at $151,000 after buying an additional 203 shares during the period. Chicago Partners Investment Group LLC increased its stake in 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 valued at $155,000 after buying an additional 746 shares during the period. Finally, Enterprise Financial Services Corp increased its stake 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 valued at $163,000 after buying an additional 403 shares during the period. Institutional investors and hedge funds own 80.55% of the company’s stock.
Shares of W.W. Grainger, Inc. (NYSE:GWW) opened at 159.64 on Thursday. W.W. Grainger, Inc. has a 52-week low of $155.60 and a 52-week high of $262.71. The stock’s 50 day moving average is $167.12 and its 200 day moving average is $199.00. The stock has a market capitalization of $9.21 billion, a PE ratio of 18.40 and a beta of 0.74.
W.W. Grainger (NYSE:GWW) last announced its 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. W.W. Grainger had a net margin of 5.08% and a return on equity of 34.03%. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the previous year, the firm posted $2.89 earnings per share. W.W. Grainger’s revenue was up 2.0% compared to the same quarter last year. Equities research analysts expect that W.W. Grainger, Inc. will post $10.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be given a dividend of $1.28 per share. This represents a $5.12 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Thursday, August 10th. W.W. Grainger’s dividend payout ratio (DPR) is currently 59.12%.
Several research firms recently weighed in on GWW. UBS AG reiterated a “neutral” rating and issued a $180.00 target price (down previously from $275.00) on shares of W.W. Grainger in a report on Wednesday, May 24th. KeyCorp reiterated a “sector weight” rating on shares of W.W. Grainger in a report on Monday, August 21st. BidaskClub upgraded shares of W.W. Grainger from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Macquarie downgraded shares of W.W. Grainger from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $286.00 to $200.00 in a report on Friday, May 26th. Finally, Northcoast Research began coverage on shares of W.W. Grainger in a report on Tuesday, July 25th. They issued a “neutral” rating for the company. Five analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. W.W. Grainger has an average rating of “Hold” and a consensus price target 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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