CIBC Asset Management Inc Grows Stock Position in W.W. Grainger, Inc. (NYSE:GWW)

CIBC Asset Management Inc lifted its stake in W.W. Grainger, Inc. (NYSE:GWW) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,276 shares of the industrial products company’s stock after buying an additional 80 shares during the period. CIBC Asset Management Inc’s holdings in W.W. Grainger were worth $1,526,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GWW. Amundi Pioneer Asset Management Inc. increased its holdings in shares of W.W. Grainger by 0.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 56,676 shares of the industrial products company’s stock worth $17,056,000 after buying an additional 164 shares during the period. Morgan Stanley increased its holdings in shares of W.W. Grainger by 4.5% in the first quarter. Morgan Stanley now owns 139,087 shares of the industrial products company’s stock worth $34,562,000 after buying an additional 6,016 shares during the period. Raymond James Trust N.A. increased its holdings in shares of W.W. Grainger by 9.0% in the second quarter. Raymond James Trust N.A. now owns 2,433 shares of the industrial products company’s stock worth $764,000 after buying an additional 200 shares during the period. Trust Co. of Vermont increased its holdings in shares of W.W. Grainger by 11.1% in the second quarter. Trust Co. of Vermont now owns 1,365 shares of the industrial products company’s stock worth $429,000 after buying an additional 136 shares during the period. Finally, PGGM Investments purchased a new position in shares of W.W. Grainger in the second quarter worth about $6,150,000. Hedge funds and other institutional investors own 72.27% of the company’s stock.

In related news, VP Paige K. Robbins sold 2,790 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $367.68, for a total value of $1,025,827.20. Also, CEO Donald G. Macpherson sold 14,909 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $356.05, for a total transaction of $5,308,349.45. Following the completion of the transaction, the chief executive officer now owns 69,394 shares of the company’s stock, valued at $24,707,733.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,699 shares of company stock valued at $29,715,837. 13.97% of the stock is owned by company insiders.

Several analysts recently issued reports on GWW shares. Royal Bank of Canada reissued a “sell” rating and issued a $241.00 target price on shares of W.W. Grainger in a research note on Monday, July 20th. Oppenheimer raised their target price on W.W. Grainger from $375.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 30th. Robert W. Baird raised their target price on W.W. Grainger from $335.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. UBS Group started coverage on W.W. Grainger in a research note on Tuesday, September 15th. They issued a “buy” rating and a $416.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their target price on W.W. Grainger from $399.00 to $419.00 and gave the stock a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $355.64.

Shares of GWW opened at $403.31 on Monday. The company has a quick ratio of 1.73, a current ratio of 2.97 and a debt-to-equity ratio of 1.01. The business’s 50 day moving average price is $370.62 and its 200-day moving average price is $335.08. W.W. Grainger, Inc. has a 52 week low of $200.61 and a 52 week high of $411.87. The stock has a market cap of $21.64 billion, a P/E ratio of 34.83, a P/E/G ratio of 2.32 and a beta of 1.10.

W.W. Grainger (NYSE:GWW) last issued its quarterly earnings results on Thursday, October 22nd. The industrial products company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.13 by $0.39. W.W. Grainger had a return on equity of 41.31% and a net margin of 5.37%. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the firm posted $4.26 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that W.W. Grainger, Inc. will post 16.3 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 9th will be given a $1.53 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $6.12 dividend on an annualized basis and a dividend yield of 1.52%. W.W. Grainger’s dividend payout ratio is currently 35.40%.

W.W. Grainger Company Profile

W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) products and services in the United States, Canada, and internationally. The company provides material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, and metalworking tools, as well as gloves, ladders, motors, and janitorial supplies.

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

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