First Interstate Bank decreased its position in W W Grainger Inc (NYSE:GWW) by 61.7% in the first quarter, Holdings Channel reports. The fund owned 155 shares of the industrial products company’s stock after selling 250 shares during the period. First Interstate Bank’s holdings in W W Grainger were worth $47,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Teachers Advisors LLC boosted its holdings in shares of W W Grainger by 20.9% during the 3rd quarter. Teachers Advisors LLC now owns 296,916 shares of the industrial products company’s stock worth $106,121,000 after buying an additional 51,246 shares in the last quarter. Nordea Investment Management AB raised its position in shares of W W Grainger by 67.9% during the third quarter. Nordea Investment Management AB now owns 36,850 shares of the industrial products company’s stock worth $13,171,000 after purchasing an additional 14,896 shares during the period. Standard Life Aberdeen plc raised its position in shares of W W Grainger by 109.4% during the third quarter. Standard Life Aberdeen plc now owns 72,440 shares of the industrial products company’s stock worth $25,891,000 after purchasing an additional 37,849 shares during the period. Morgan Stanley raised its position in shares of W W Grainger by 59.0% during the third quarter. Morgan Stanley now owns 518,061 shares of the industrial products company’s stock worth $185,161,000 after purchasing an additional 192,292 shares during the period. Finally, Scout Investments Inc. raised its position in shares of W W Grainger by 33.2% during the fourth quarter. Scout Investments Inc. now owns 104,259 shares of the industrial products company’s stock worth $29,439,000 after purchasing an additional 25,970 shares during the period. Institutional investors own 78.36% of the company’s stock.
In other news, Chairman Donald G. Macpherson sold 2,317 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $310.03, for a total transaction of $718,339.51. Following the completion of the sale, the chairman now directly owns 45,848 shares of the company’s stock, valued at approximately $14,214,255.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP John L. Howard sold 1,211 shares of the firm’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $310.09, for a total value of $375,518.99. Following the sale, the vice president now directly owns 44,934 shares of the company’s stock, valued at $13,933,584.06. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.
NYSE GWW opened at $276.57 on Thursday. The firm has a market capitalization of $15.72 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.39 and a beta of 0.96. W W Grainger Inc has a 12 month low of $265.00 and a 12 month high of $372.06. The company has a quick ratio of 1.36, a current ratio of 2.40 and a debt-to-equity ratio of 0.97.
W W Grainger (NYSE:GWW) last announced its earnings results on Monday, April 22nd. The industrial products company reported $4.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.42 by $0.09. W W Grainger had a return on equity of 46.09% and a net margin of 7.12%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the firm posted $4.18 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. Equities analysts expect that W W Grainger Inc will post 17.94 EPS for the current year.
W W Grainger announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 24th that allows the company to buyback 5,000,000 shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Monday, May 13th will be given a dividend of $1.44 per share. The ex-dividend date of this dividend is Friday, May 10th. This is a positive change from W W Grainger’s previous quarterly dividend of $1.36. This represents a $5.76 annualized dividend and a dividend yield of 2.08%. W W Grainger’s dividend payout ratio (DPR) is currently 32.57%.
About W W Grainger
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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