BlueMountain Capital Management LLC Purchases 10,971 Shares of W.W. Grainger, Inc. (GWW)
BlueMountain Capital Management LLC grew its position in shares of W.W. Grainger, Inc. (NYSE:GWW) by 426.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,544 shares of the industrial products company’s stock after buying an additional 10,971 shares during the period. BlueMountain Capital Management LLC’s holdings in W.W. Grainger were worth $2,445,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of GWW. Harfst & Associates Inc. bought a new position in W.W. Grainger during the 1st quarter worth $116,000. Salem Investment Counselors Inc. bought a new position in W.W. Grainger during the 1st quarter worth $138,000. NEXT Financial Group Inc increased its position in W.W. Grainger by 35.0% during the 1st 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 period. Chicago Partners Investment Group LLC increased its position in W.W. Grainger by 18,650.0% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 750 shares of the industrial products company’s stock worth $155,000 after buying an additional 746 shares during the period. Finally, Enterprise Financial Services Corp increased its position in W.W. Grainger by 80.8% during the 2nd 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 period. Hedge funds and other institutional investors own 80.58% of the company’s stock.
W.W. Grainger, Inc. (NYSE:GWW) opened at 168.95 on Monday. The company has a market cap of $9.75 billion, a PE ratio of 19.48 and a beta of 0.74. W.W. Grainger, Inc. has a 52-week low of $155.00 and a 52-week high of $262.71. The firm 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 quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.09. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations 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 firm posted $2.89 EPS. On average, analysts forecast that W.W. Grainger, Inc. will post $10.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 14th were issued a dividend of $1.28 per share. The ex-dividend date was Thursday, August 10th. This represents a $5.12 dividend on an annualized basis and a yield of 3.03%. W.W. Grainger’s dividend payout ratio (DPR) is 59.12%.
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Several research analysts have weighed in on the company. BMO Capital Markets reiterated a “hold” rating and set a $198.00 price objective on shares of W.W. Grainger in a research report on Thursday, May 25th. BidaskClub upgraded W.W. Grainger from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Morgan Stanley lowered their price objective on W.W. Grainger from $174.00 to $172.00 and set an “underweight” rating on the stock in a research report on Thursday, July 20th. Royal Bank Of Canada reiterated a “sell” rating and set a $145.00 price objective on shares of W.W. Grainger in a research report on Wednesday, September 6th. Finally, Credit Suisse Group upgraded W.W. Grainger to a “hold” rating and set a $175.00 price objective on the stock in a research report on Wednesday, July 19th. Five analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. W.W. Grainger presently has a consensus rating of “Hold” and an average target price of $179.42.
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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