CIBC Asset Management Inc Sells 244 Shares of W.W. Grainger, Inc. (NYSE:GWW)

CIBC Asset Management Inc lessened its holdings in W.W. Grainger, Inc. (NYSE:GWW) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,048 shares of the industrial products company’s stock after selling 244 shares during the period. CIBC Asset Management Inc’s holdings in W.W. Grainger were worth $5,457,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GWW. Bfsg LLC bought a new position in shares of W.W. Grainger in the 1st quarter worth approximately $26,000. Valued Wealth Advisors LLC raised its stake in W.W. Grainger by 170.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 27 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 17 shares during the period. Scarborough Advisors LLC bought a new stake in W.W. Grainger during the 4th quarter worth approximately $28,000. Newbridge Financial Services Group Inc. raised its stake in W.W. Grainger by 275.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 45 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 33 shares during the period. Finally, Washington Trust Advisors Inc. raised its stake in W.W. Grainger by 225.0% during the 1st quarter. Washington Trust Advisors Inc. now owns 39 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 27 shares during the period. Institutional investors own 80.70% of the company’s stock.

W.W. Grainger Trading Down 0.8 %

GWW stock opened at $952.29 on Thursday. The firm has a fifty day moving average price of $950.27 and a 200 day moving average price of $953.79. W.W. Grainger, Inc. has a fifty-two week low of $674.41 and a fifty-two week high of $1,034.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.30. The firm has a market cap of $46.73 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 1.96 and a beta of 1.17.

W.W. Grainger (NYSE:GWW) last posted its earnings results on Thursday, August 1st. The industrial products company reported $9.76 earnings per share for the quarter, beating analysts’ consensus estimates of $9.58 by $0.18. W.W. Grainger had a net margin of 10.86% and a return on equity of 53.25%. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same period last year, the firm posted $9.28 earnings per share. W.W. Grainger’s revenue for the quarter was up 3.1% compared to the same quarter last year. Sell-side analysts anticipate that W.W. Grainger, Inc. will post 38.71 earnings per share for the current fiscal year.

W.W. Grainger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Monday, August 12th were issued a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Monday, August 12th. W.W. Grainger’s dividend payout ratio (DPR) is presently 22.64%.

Analyst Upgrades and Downgrades

GWW has been the topic of a number of recent analyst reports. Robert W. Baird cut shares of W.W. Grainger from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $1,000.00 to $975.00 in a research note on Wednesday, May 29th. Royal Bank of Canada decreased their target price on shares of W.W. Grainger from $978.00 to $972.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Erste Group Bank restated a “hold” rating on shares of W.W. Grainger in a research note on Friday, June 14th. JPMorgan Chase & Co. raised their target price on shares of W.W. Grainger from $1,000.00 to $1,015.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Baird R W cut shares of W.W. Grainger from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $1,017.13.

Insiders Place Their Bets

In other W.W. Grainger news, SVP Matt Fortin sold 511 shares of W.W. Grainger stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $915.20, for a total transaction of $467,667.20. Following the completion of the transaction, the senior vice president now directly owns 1,848 shares of the company’s stock, valued at $1,691,289.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.50% of the stock is owned by insiders.

W.W. Grainger 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.