W.W. Grainger, Inc. (GWW) Stake Reduced by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD cut its stake in W.W. Grainger, Inc. (NYSE:GWW) by 9.9% during the second quarter, Holdings Channel reports. The institutional investor owned 4,379 shares of the industrial products company’s stock after selling 483 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in W.W. Grainger were worth $790,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Welch & Forbes LLC increased its stake in shares of W.W. Grainger by 0.3% in the first quarter. Welch & Forbes LLC now owns 865 shares of the industrial products company’s stock valued at $201,000 after buying an additional 3 shares in the last quarter. Cypress Wealth Advisors LLC increased its stake in shares of W.W. Grainger by 0.4% in the first quarter. Cypress Wealth Advisors LLC now owns 988 shares of the industrial products company’s stock valued at $230,000 after buying an additional 4 shares in the last quarter. Verus Financial Partners Inc. increased its stake in shares of W.W. Grainger by 0.5% in the first quarter. Verus Financial Partners Inc. now owns 1,172 shares of the industrial products company’s stock valued at $273,000 after buying an additional 6 shares in the last quarter. Capital One National Association increased its stake in shares of W.W. Grainger by 0.5% in the first quarter. Capital One National Association now owns 1,513 shares of the industrial products company’s stock valued at $352,000 after buying an additional 8 shares in the last quarter. Finally, Trust Co. of Vermont increased its stake in shares of W.W. Grainger by 0.7% in the second quarter. Trust Co. of Vermont now owns 1,293 shares of the industrial products company’s stock valued at $234,000 after buying an additional 9 shares in the last quarter. 82.43% of the stock is owned by institutional investors and hedge funds.

W.W. Grainger, Inc. (NYSE GWW) opened at 167.39 on Tuesday. W.W. Grainger, Inc. has a 12 month low of $160.29 and a 12 month high of $262.71. The company’s 50-day moving average price is $173.85 and its 200 day moving average price is $209.15. The stock has a market capitalization of $9.66 billion, a PE ratio of 19.30 and a beta of 0.74.

W.W. Grainger (NYSE:GWW) last released its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.09. W.W. Grainger had a return on equity of 34.03% and a net margin of 5.08%. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period last year, the business posted $2.89 EPS. W.W. Grainger’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts forecast that W.W. Grainger, Inc. will post $10.38 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be paid a $1.28 dividend. This represents a $5.12 annualized dividend and a yield of 3.06%. The ex-dividend date is Thursday, August 10th. W.W. Grainger’s payout ratio is currently 59.12%.

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Several equities research analysts have weighed in on the company. Royal Bank Of Canada reissued a “sell” rating and issued a $166.00 price target (down previously from $209.00) on shares of W.W. Grainger in a report on Wednesday, April 19th. UBS AG restated a “neutral” rating and issued a $180.00 price objective (down from $275.00) on shares of W.W. Grainger in a research note on Wednesday, May 24th. Deutsche Bank AG cut W.W. Grainger from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $246.00 to $145.00 in a research note on Thursday, May 18th. Morgan Stanley reduced their price objective on W.W. Grainger from $174.00 to $172.00 and set an “underweight” rating for the company in a research note on Thursday, July 20th. Finally, Northcoast Research assumed coverage on W.W. Grainger in a research note on Tuesday, July 25th. They issued a “neutral” rating for the company. Five research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $180.33.

About W.W. Grainger

W.W. Grainger, Inc (Grainger) is a distributor of maintenance, repair and operating (MRO) supplies and other related products and services. The Company offers its products and services to businesses and institutions in the United States and Canada, with presence also in Europe, Asia and Latin America.

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

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