Oakworth Capital Inc. Makes New Investment in W.W. Grainger, Inc. (NYSE:GWW)

Oakworth Capital Inc. bought a new position in shares of W.W. Grainger, Inc. (NYSE:GWW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 69 shares of the industrial products company’s stock, valued at approximately $62,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GWW. Clearbridge Investments LLC grew its position in shares of W.W. Grainger by 17.4% in the first quarter. Clearbridge Investments LLC now owns 1,148,051 shares of the industrial products company’s stock valued at $1,167,913,000 after purchasing an additional 169,897 shares during the last quarter. Franklin Resources Inc. boosted its position in W.W. Grainger by 1.7% during the fourth quarter. Franklin Resources Inc. now owns 689,090 shares of the industrial products company’s stock worth $571,042,000 after acquiring an additional 11,460 shares during the last quarter. Norges Bank acquired a new stake in W.W. Grainger during the fourth quarter worth approximately $392,470,000. Dimensional Fund Advisors LP boosted its position in W.W. Grainger by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 440,860 shares of the industrial products company’s stock worth $365,334,000 after acquiring an additional 10,940 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in W.W. Grainger by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 265,103 shares of the industrial products company’s stock worth $219,688,000 after acquiring an additional 4,893 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Matt Fortin sold 511 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $915.20, for a total value of $467,667.20. Following the completion of the sale, the senior vice president now directly owns 1,848 shares of the company’s stock, valued at $1,691,289.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GWW has been the topic of a number of recent analyst reports. Loop Capital cut their price target on shares of W.W. Grainger from $1,000.00 to $975.00 and set a “hold” rating on the stock in a research note on Monday, April 29th. Erste Group Bank reissued a “hold” rating on shares of W.W. Grainger in a research note on Friday, June 14th. StockNews.com downgraded shares of W.W. Grainger from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Royal Bank of Canada lowered their price target on shares of W.W. Grainger from $978.00 to $972.00 and set a “sector perform” rating for the company 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. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $1,017.13.

W.W. Grainger Stock Performance

NYSE:GWW traded up $7.53 during mid-day trading on Friday, hitting $966.37. The stock had a trading volume of 294,787 shares, compared to its average volume of 246,183. The stock has a market capitalization of $47.42 billion, a price-to-earnings ratio of 26.68, a P/E/G ratio of 1.85 and a beta of 1.17. The company has a 50 day simple moving average of $935.30 and a 200-day simple moving average of $951.12. W.W. Grainger, Inc. has a 52 week low of $674.41 and a 52 week high of $1,034.18. The company has a current ratio of 2.30, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

W.W. Grainger (NYSE:GWW) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $9.76 EPS 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 company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.35 billion. During the same period in the previous year, the firm earned $9.28 EPS. W.W. Grainger’s revenue was up 3.1% on a year-over-year basis. On average, research analysts expect that W.W. Grainger, Inc. will post 39.1 earnings per share for the current fiscal year.

W.W. Grainger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Monday, August 12th will be given a dividend of $2.05 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $8.20 dividend on an annualized basis and a dividend yield of 0.85%. W.W. Grainger’s dividend payout ratio (DPR) is 22.64%.

W.W. Grainger Company Profile

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.