Grainger (LON:GRI) Hits New 1-Year Low – Here’s What Happened

Grainger plc (LON:GRI) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as GBX 210.50 ($2.60) and last traded at GBX 210.50 ($2.60), with a volume of 2230025 shares changing hands. The stock had previously closed at GBX 216 ($2.66).

Wall Street Analyst Weigh In

Several research firms recently issued reports on GRI. Berenberg Bank reiterated a “buy” rating and set a GBX 299 ($3.69) target price on shares of Grainger in a report on Friday, November 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 336 ($4.14) price objective on shares of Grainger in a report on Friday, November 22nd.

Grainger Trading Down 2.5 %

The firm has a market capitalization of £1.55 billion, a P/E ratio of 8,183.33, a PEG ratio of 1.51 and a beta of 0.71. The company has a quick ratio of 0.87, a current ratio of 3.81 and a debt-to-equity ratio of 84.35. The firm has a 50 day moving average of GBX 226 and a 200-day moving average of GBX 234.96.

Grainger Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, February 21st. Shareholders of record on Thursday, January 16th will be issued a GBX 5.01 ($0.06) dividend. This is a positive change from Grainger’s previous dividend of $2.54. This represents a yield of 2.26%. The ex-dividend date of this dividend is Thursday, January 16th.

Insider Activity at Grainger

In other news, insider Robert Hudson sold 48,642 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of GBX 220 ($2.71), for a total transaction of £107,012.40 ($131,951.17). Also, insider Helen Gordon sold 29,992 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of GBX 215 ($2.65), for a total value of £64,482.80 ($79,510.23). 1.92% of the stock is currently owned by insiders.

Grainger Company Profile

Founded in Newcastle upon Tyne in 1912, Grainger plc, a FTSE 250 business, is the UK’s largest listed residential landlord and leader in the fast-growing build-to-rent sector, providing c.11,100 rental homes to over 20,000 customers. With a pipeline of secured build-to-rent development projects totalling c.5,000 homes and £1.5bn, Grainger is creating thousands more rental homes by investing in cities across the UK.