W.W. Grainger, Inc. (NYSE:GWW) Holdings Lowered by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS trimmed its stake in shares of W.W. Grainger, Inc. (NYSE:GWW) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,011 shares of the industrial products company’s stock after selling 75 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in W.W. Grainger were worth $1,814,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GWW. Private Advisor Group LLC raised its position in shares of W.W. Grainger by 7.0% during the 4th quarter. Private Advisor Group LLC now owns 1,186 shares of the industrial products company’s stock worth $982,000 after buying an additional 78 shares in the last quarter. Wealthspire Advisors LLC acquired a new position in shares of W.W. Grainger in the 4th quarter worth approximately $358,000. Principal Securities Inc. acquired a new position in shares of W.W. Grainger in the 4th quarter worth approximately $662,000. Kinsale Capital Group Inc. grew its stake in shares of W.W. Grainger by 25.8% in the 4th quarter. Kinsale Capital Group Inc. now owns 3,071 shares of the industrial products company’s stock worth $2,545,000 after purchasing an additional 630 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of W.W. Grainger by 7.7% in the 4th quarter. Teacher Retirement System of Texas now owns 29,602 shares of the industrial products company’s stock worth $24,531,000 after purchasing an additional 2,105 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors.

W.W. Grainger Stock Up 1.1 %

GWW stock opened at $948.46 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The firm has a market cap of $46.54 billion, a PE ratio of 26.19, a PEG ratio of 1.96 and a beta of 1.17. W.W. Grainger, Inc. has a 1 year low of $674.41 and a 1 year high of $1,034.18. The company has a fifty day simple moving average of $951.88 and a 200 day simple moving average of $953.77.

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

W.W. Grainger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Monday, August 12th were paid 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 was Monday, August 12th. W.W. Grainger’s payout ratio is 22.64%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GWW shares. JPMorgan Chase & Co. lifted their price objective 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. StockNews.com cut shares of W.W. Grainger from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Morgan Stanley initiated coverage on shares of W.W. Grainger in a research note on Friday. They issued an “equal weight” rating and a $990.00 price objective on the stock. Erste Group Bank reissued a “hold” rating on shares of W.W. Grainger in a research report on Friday, June 14th. Finally, Baird R W downgraded shares of W.W. Grainger from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, W.W. Grainger currently has an average rating of “Hold” and a consensus price target of $1,014.11.

Insider Activity at W.W. Grainger

In related news, SVP Matt Fortin sold 511 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $915.20, for a total value of $467,667.20. Following the transaction, the senior vice president now directly owns 1,848 shares of the company’s stock, valued at approximately $1,691,289.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.50% of the stock is owned by company insiders.

About W.W. Grainger

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.