W.W. Grainger, Inc. (NYSE:GWW) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in shares of W.W. Grainger, Inc. (NYSE:GWW) by 9.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 6,617 shares of the industrial products company’s stock after buying an additional 569 shares during the period. CIBC Asset Management Inc’s holdings in W.W. Grainger were worth $6,874,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GWW. Avantax Advisory Services Inc. raised its stake in W.W. Grainger by 9.4% during the first quarter. Avantax Advisory Services Inc. now owns 561 shares of the industrial products company’s stock worth $570,000 after acquiring an additional 48 shares during the period. Kingsview Wealth Management LLC acquired a new stake in W.W. Grainger during the first quarter worth about $487,000. Covestor Ltd raised its stake in W.W. Grainger by 53.8% during the first quarter. Covestor Ltd now owns 140 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 49 shares during the period. Trustmark National Bank Trust Department bought a new position in W.W. Grainger in the 1st quarter worth about $400,000. Finally, O Shaughnessy Asset Management LLC grew its position in W.W. Grainger by 14.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,275 shares of the industrial products company’s stock worth $7,401,000 after purchasing an additional 904 shares during the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on GWW shares. Bank of America started coverage on shares of W.W. Grainger in a research report on Monday, October 7th. They issued an “underperform” rating and a $925.00 target price for the company. Morgan Stanley started coverage on shares of W.W. Grainger in a research report on Friday, September 6th. They issued an “equal weight” rating and a $990.00 target price for the company. Royal Bank of Canada upped their target price on shares of W.W. Grainger from $1,018.00 to $1,125.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Baird R W upgraded shares of W.W. Grainger from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, Northcoast Research assumed coverage on shares of W.W. Grainger in a research report on Tuesday, October 29th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $1,086.50.

Insider Transactions at W.W. Grainger

In related news, CFO Deidra C. Merriwether sold 704 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $1,105.59, for a total transaction of $778,335.36. Following the transaction, the chief financial officer now directly owns 9,509 shares of the company’s stock, valued at approximately $10,513,055.31. The trade was a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Donald G. Macpherson sold 27,502 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $1,000.82, for a total value of $27,524,551.64. Following the transaction, the chief executive officer now directly owns 111,559 shares in the company, valued at $111,650,478.38. The trade was a 19.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,900 shares of company stock valued at $52,640,733 over the last quarter. Company insiders own 9.50% of the company’s stock.

W.W. Grainger Stock Performance

Shares of NYSE GWW opened at $1,178.33 on Monday. W.W. Grainger, Inc. has a 52-week low of $772.13 and a 52-week high of $1,227.66. The stock has a market capitalization of $57.38 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 3.25 and a beta of 1.15. The company has a quick ratio of 1.68, a current ratio of 2.59 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $1,078.55 and its 200 day simple moving average is $988.96.

W.W. Grainger (NYSE:GWW) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $9.87 EPS for the quarter, missing analysts’ consensus estimates of $9.98 by ($0.11). W.W. Grainger had a net margin of 10.80% and a return on equity of 51.78%. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same period in the prior year, the company posted $9.43 earnings per share. W.W. Grainger’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts forecast that W.W. Grainger, Inc. will post 38.92 earnings per share for the current fiscal year.

W.W. Grainger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 11th will be paid a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, November 8th. W.W. Grainger’s dividend payout ratio (DPR) is currently 22.23%.

W.W. Grainger Company Profile

W.W. Grainger, Inc, together with its subsidiaries, distributes maintenance, repair, and operating products and services primarily in North America, Japan, the United Kingdom, and internationally. The company operates through two segments, High-Touch Solutions N.A. and Endless Assortment. The company provides safety, security, material handling and storage equipment, pumps and plumbing equipment, cleaning and maintenance, and metalworking and hand tools.