Convergence Investment Partners LLC Acquires Shares of 2,743 W W Grainger Inc (NYSE:GWW)

Convergence Investment Partners LLC acquired a new stake in W W Grainger Inc (NYSE:GWW) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,743 shares of the industrial products company’s stock, valued at approximately $862,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brendel Financial Advisors LLC purchased a new stake in W W Grainger in the 2nd quarter valued at approximately $561,000. State of Michigan Retirement System boosted its stake in shares of W W Grainger by 10.8% during the 2nd quarter. State of Michigan Retirement System now owns 11,084 shares of the industrial products company’s stock worth $3,482,000 after acquiring an additional 1,077 shares in the last quarter. Duality Advisers LP purchased a new stake in shares of W W Grainger during the 2nd quarter worth approximately $995,000. Schmidt P J Investment Management Inc. purchased a new stake in shares of W W Grainger during the 2nd quarter worth approximately $236,000. Finally, M&T Bank Corp boosted its stake in shares of W W Grainger by 15.2% during the 2nd quarter. M&T Bank Corp now owns 14,981 shares of the industrial products company’s stock worth $4,706,000 after acquiring an additional 1,981 shares in the last quarter. 70.45% of the stock is currently owned by institutional investors.

Shares of W W Grainger stock traded up $1.74 during trading on Friday, hitting $341.53. 478,059 shares of the company were exchanged, compared to its average volume of 371,680. The firm has a 50 day moving average price of $316.78 and a 200 day moving average price of $295.49. The company has a quick ratio of 2.32, a current ratio of 3.54 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $18.30 billion, a price-to-earnings ratio of 21.17, a P/E/G ratio of 2.28 and a beta of 0.99. W W Grainger Inc has a fifty-two week low of $200.61 and a fifty-two week high of $347.45.

W W Grainger (NYSE:GWW) last issued its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $3.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.39 by $0.36. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.77 billion. W W Grainger had a return on equity of 42.19% and a net margin of 5.34%. W W Grainger’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $4.64 EPS. Analysts predict that W W Grainger Inc will post 15.61 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 10th will be issued a $1.53 dividend. The ex-dividend date is Friday, August 7th. This is an increase from W W Grainger’s previous quarterly dividend of $1.44. This represents a $6.12 annualized dividend and a yield of 1.79%. W W Grainger’s payout ratio is 33.31%.

Several equities research analysts have recently commented on GWW shares. Wells Fargo & Co boosted their price target on W W Grainger from $250.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 2nd. Deutsche Bank boosted their price target on W W Grainger from $359.00 to $383.00 and gave the stock a “hold” rating in a research note on Friday, July 24th. Oppenheimer decreased their price target on W W Grainger from $335.00 to $325.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. JPMorgan Chase & Co. boosted their price target on W W Grainger from $270.00 to $291.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 23rd. Finally, Gordon Haskett raised W W Grainger from an “underperform” rating to a “hold” rating and set a $295.00 price target on the stock in a research note on Thursday, July 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. W W Grainger presently has an average rating of “Hold” and an average price target of $329.75.

In other W W Grainger news, VP Paige K. Robbins sold 3,840 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $312.66, for a total value of $1,200,614.40. Following the completion of the transaction, the vice president now directly owns 15,033 shares in the company, valued at approximately $4,700,217.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.97% of the company’s stock.

W W Grainger Company 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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Institutional Ownership by Quarter for W W Grainger (NYSE:GWW)

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