W.W. Grainger, Inc. (NYSE:GWW) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. cut its holdings in shares of W.W. Grainger, Inc. (NYSE:GWW) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 852 shares of the industrial products company’s stock after selling 20 shares during the period. Meeder Asset Management Inc.’s holdings in W.W. Grainger were worth $885,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in W.W. Grainger by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 360,026 shares of the industrial products company’s stock valued at $324,841,000 after purchasing an additional 17,699 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of W.W. Grainger during the 2nd quarter valued at approximately $281,104,000. Hsbc Holdings PLC grew its position in shares of W.W. Grainger by 0.8% during the second quarter. Hsbc Holdings PLC now owns 243,470 shares of the industrial products company’s stock worth $219,386,000 after buying an additional 1,849 shares in the last quarter. Swedbank AB grew its position in shares of W.W. Grainger by 23.5% during the third quarter. Swedbank AB now owns 193,888 shares of the industrial products company’s stock worth $201,413,000 after buying an additional 36,892 shares in the last quarter. Finally, abrdn plc increased its stake in shares of W.W. Grainger by 2.4% in the third quarter. abrdn plc now owns 171,576 shares of the industrial products company’s stock worth $178,172,000 after buying an additional 4,014 shares during the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other W.W. Grainger news, VP Laurie R. Thomson sold 125 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,206.03, for a total value of $150,753.75. Following the completion of the sale, the vice president now directly owns 675 shares in the company, valued at $814,070.25. This represents a 15.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the chief executive officer now owns 111,559 shares in the company, valued at approximately $111,650,478.38. This trade represents a 19.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,900 shares of company stock worth $52,640,733. 9.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Northcoast Research initiated coverage on shares of W.W. Grainger in a report on Tuesday, October 29th. They set a “neutral” rating for the company. UBS Group assumed coverage on W.W. Grainger in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $1,280.00 price target for the company. Royal Bank of Canada boosted their price objective on W.W. Grainger from $1,018.00 to $1,125.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Loop Capital lifted their target price on W.W. Grainger from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, Oppenheimer lowered W.W. Grainger from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, W.W. Grainger has a consensus rating of “Hold” and an average price target of $1,109.00.

W.W. Grainger Stock Performance

GWW stock opened at $1,172.40 on Wednesday. W.W. Grainger, Inc. has a 1 year low of $772.13 and a 1 year high of $1,227.66. The stock has a market capitalization of $57.10 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 3.25 and a beta of 1.15. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.68 and a current ratio of 2.59. The stock’s fifty day moving average is $1,086.44 and its two-hundred day moving average is $992.40.

W.W. Grainger (NYSE:GWW) last posted its earnings results on Thursday, October 31st. The industrial products company reported $9.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.98 by ($0.11). W.W. Grainger had a net margin of 10.80% and a return on equity of 51.78%. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same period in the previous year, the firm earned $9.43 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts predict that W.W. Grainger, Inc. will post 38.92 EPS for the current year.

W.W. Grainger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 11th will be paid a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, November 8th. W.W. Grainger’s payout ratio is currently 22.23%.

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.