W.W. Grainger (NYSE:GWW) Reaches New 52-Week High After Dividend Announcement

W.W. Grainger, Inc. (NYSE:GWW)’s stock price hit a new 52-week high during mid-day trading on Thursday after the company announced a dividend. The company traded as high as $1,130.01 and last traded at $1,113.70, with a volume of 61891 shares changing hands. The stock had previously closed at $1,099.34.

The newly announced dividend which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 11th will be issued a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a dividend yield of 0.74%. W.W. Grainger’s payout ratio is currently 22.64%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Northcoast Research assumed coverage on shares of W.W. Grainger in a report on Tuesday. They set a “neutral” rating on the stock. Robert W. Baird upgraded shares of W.W. Grainger from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $975.00 to $1,230.00 in a report on Wednesday, October 16th. Bank of America started coverage on shares of W.W. Grainger in a report on Monday, October 7th. They set an “underperform” rating and a $925.00 price objective on the stock. Royal Bank of Canada cut their price target on shares of W.W. Grainger from $978.00 to $972.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of W.W. Grainger from $1,000.00 to $1,015.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $1,043.20.

W.W. Grainger Price Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 2.30 and a quick ratio of 1.40. The firm has a market cap of $54.65 billion, a price-to-earnings ratio of 30.38, a P/E/G ratio of 3.07 and a beta of 1.16. The business’s 50-day moving average price is $1,030.55 and its two-hundred day moving average price is $969.76.

W.W. Grainger (NYSE:GWW) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $9.76 earnings per share for the quarter, topping 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 business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter last year, the company earned $9.28 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, research analysts forecast that W.W. Grainger, Inc. will post 38.69 EPS for the current fiscal year.

Insider Transactions at W.W. Grainger

In other W.W. Grainger news, CEO Donald G. Macpherson sold 12,992 shares of W.W. Grainger stock in a transaction on Monday, September 30th. The shares were sold at an average price of $1,037.68, for a total value of $13,481,538.56. Following the completion of the transaction, the chief executive officer now owns 98,567 shares of the company’s stock, valued at $102,281,004.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other W.W. Grainger news, CEO Donald G. Macpherson sold 27,502 shares of W.W. Grainger 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 completion of the transaction, the chief executive officer now owns 111,559 shares of the company’s stock, valued at $111,650,478.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Donald G. Macpherson sold 12,992 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $1,037.68, for a total transaction of $13,481,538.56. Following the transaction, the chief executive officer now owns 98,567 shares of the company’s stock, valued at $102,281,004.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On W.W. Grainger

Several institutional investors have recently modified their holdings of GWW. HWG Holdings LP bought a new position in shares of W.W. Grainger during the second quarter worth about $26,000. GHP Investment Advisors Inc. grew its position in shares of W.W. Grainger by 250.0% during the third quarter. GHP Investment Advisors Inc. now owns 28 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 20 shares during the last quarter. Washington Trust Advisors Inc. grew its position in shares of W.W. Grainger by 225.0% during the first 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 last quarter. Headlands Technologies LLC bought a new position in shares of W.W. Grainger during the first quarter worth about $41,000. Finally, Triad Wealth Partners LLC bought a new position in shares of W.W. Grainger during the second quarter worth about $42,000. Institutional investors own 80.70% of the company’s stock.

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.