W.W. Grainger, Inc. (NYSE:GWW) Sees Large Drop in Short Interest

W.W. Grainger, Inc. (NYSE:GWW) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,560,000 shares, a decline of 5.5% from the October 15th total of 1,650,000 shares. Approximately 3.4% of the shares of the stock are sold short. Based on an average trading volume of 208,400 shares, the days-to-cover ratio is currently 7.5 days.

W.W. Grainger Stock Up 0.2 %

NYSE:GWW opened at $1,178.33 on Monday. W.W. Grainger has a 52 week low of $772.13 and a 52 week high of $1,227.66. The company has a quick ratio of 1.68, a current ratio of 2.59 and a debt-to-equity ratio of 0.59. The stock’s fifty day moving average is $1,078.55 and its two-hundred day moving average is $988.96. The stock has a market capitalization of $57.38 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 3.25 and a beta of 1.15.

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 the consensus estimate of $9.98 by ($0.11). The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.40 billion. W.W. Grainger had a return on equity of 51.78% and a net margin of 10.80%. W.W. Grainger’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $9.43 EPS. Research analysts anticipate that W.W. Grainger will post 38.92 EPS for the current year.

W.W. Grainger Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GWW shares. Loop Capital lifted their price target on W.W. Grainger from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Wolfe Research raised shares of W.W. Grainger to a “hold” rating in a research note on Sunday, September 22nd. Northcoast Research began coverage on shares of W.W. Grainger in a research note on Tuesday, October 29th. They issued a “neutral” rating for the company. Bank of America began coverage on shares of W.W. Grainger in a research report on Monday, October 7th. They set an “underperform” rating and a $925.00 price target on the stock. Finally, Royal Bank of Canada increased their price objective on W.W. Grainger from $1,018.00 to $1,125.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $1,086.50.

Insider Buying and Selling

In related news, VP Paige K. Robbins sold 9,577 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $1,117.84, for a total value of $10,705,553.68. Following the completion of the sale, the vice president now owns 4,379 shares of the company’s stock, valued at approximately $4,895,021.36. This trade represents a 68.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Laurie R. Thomson sold 125 shares of W.W. Grainger 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 transaction, the vice president now owns 675 shares in the company, valued at approximately $814,070.25. The trade was a 15.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,900 shares of company stock worth $52,640,733. 9.50% of the stock is owned by insiders.

Institutional Investors Weigh In On W.W. Grainger

Several large investors have recently added to or reduced their stakes in GWW. Geode Capital Management LLC boosted its position in W.W. Grainger by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,167,031 shares of the industrial products company’s stock valued at $1,208,610,000 after buying an additional 28,626 shares during the period. Foyston Gordon & Payne Inc raised its stake in shares of W.W. Grainger by 1.4% in the third quarter. Foyston Gordon & Payne Inc now owns 6,092 shares of the industrial products company’s stock valued at $6,328,000 after acquiring an additional 82 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in W.W. Grainger by 6.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 56,091 shares of the industrial products company’s stock valued at $58,268,000 after purchasing an additional 3,204 shares during the period. MML Investors Services LLC boosted its holdings in W.W. Grainger by 8.1% in the third quarter. MML Investors Services LLC now owns 7,146 shares of the industrial products company’s stock valued at $7,424,000 after purchasing an additional 537 shares during the period. Finally, Dorsey Wright & Associates grew its stake in W.W. Grainger by 3.8% during the 3rd quarter. Dorsey Wright & Associates now owns 3,927 shares of the industrial products company’s stock worth $4,079,000 after purchasing an additional 145 shares in the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

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.