Meiji Yasuda Asset Management Co Ltd. Sells 1,788 Shares of W W Grainger Inc (NYSE:GWW)
Meiji Yasuda Asset Management Co Ltd. cut its holdings in shares of W W Grainger Inc (NYSE:GWW) by 18.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,799 shares of the industrial products company’s stock after selling 1,788 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in W W Grainger were worth $2,347,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in GWW. Ronna Sue Cohen lifted its stake in W W Grainger by 27,609.9% during the first quarter. Ronna Sue Cohen now owns 2,981,867 shares of the industrial products company’s stock valued at $2,982,000 after purchasing an additional 2,971,106 shares during the last quarter. Longview Partners Guernsey LTD lifted its position in shares of W W Grainger by 84.1% in the 4th quarter. Longview Partners Guernsey LTD now owns 3,155,394 shares of the industrial products company’s stock valued at $890,957,000 after acquiring an additional 1,441,615 shares in the last quarter. Norges Bank purchased a new stake in shares of W W Grainger in the 4th quarter valued at approximately $156,410,000. BlackRock Inc. lifted its position in shares of W W Grainger by 4.2% in the 4th quarter. BlackRock Inc. now owns 3,372,604 shares of the industrial products company’s stock valued at $952,290,000 after acquiring an additional 135,674 shares in the last quarter. Finally, APG Asset Management N.V. lifted its position in shares of W W Grainger by 36.2% in the 4th quarter. APG Asset Management N.V. now owns 507,568 shares of the industrial products company’s stock valued at $125,370,000 after acquiring an additional 134,800 shares in the last quarter. 74.45% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on GWW. ValuEngine upgraded shares of W W Grainger from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. Gordon Haskett upgraded shares of W W Grainger from an “underperform” rating to a “hold” rating and set a $264.58 price target for the company in a research report on Friday, May 17th. Morgan Stanley upped their price target on shares of W W Grainger from $266.00 to $273.00 and gave the company an “underweight” rating in a research report on Wednesday, April 24th. William Blair restated a “market perform” rating on shares of W W Grainger in a research report on Monday, April 22nd. Finally, Stephens set a $318.00 price target on shares of W W Grainger and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $309.13.
W W Grainger (NYSE:GWW) last released its quarterly earnings data on Monday, April 22nd. The industrial products company reported $4.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.42 by $0.09. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.88 billion. W W Grainger had a net margin of 7.12% and a return on equity of 46.09%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.18 EPS. Equities analysts anticipate that W W Grainger Inc will post 17.94 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Monday, May 13th were paid a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Friday, May 10th. This is a positive change from W W Grainger’s previous quarterly dividend of $1.36. W W Grainger’s dividend payout ratio is currently 34.49%.
W W Grainger declared that its board has authorized a stock buyback plan on Wednesday, April 24th that authorizes the company to repurchase 5,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
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W W Grainger 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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