12,771 Shares in W.W. Grainger, Inc. $GWW Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a position in W.W. Grainger, buying 12,771 shares worth approximately $15.9 million in the third quarter. Institutional investors and hedge funds collectively own 80.7% of the company’s stock.
• Grainger reported quarterly EPS of $12.01, beating estimates of $11.30, while revenue rose 10.3% year over year to $5.02 billion.
• Analysts’ consensus rating is Hold, with an average price target of $1,266.08. The company also declared a quarterly dividend of $2.49 per share, equivalent to a 0.7% annual yield.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of W.W. Grainger, Inc. (NYSE:GWW - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,771 shares of the industrial products company's stock, valued at approximately $15,910,000.

Several other hedge funds have also recently added to or reduced their stakes in GWW. BlackRock Inc. purchased a new position in W.W. Grainger in the 2nd quarter valued at $6,303,024,000. Bank of America Corp DE acquired a new stake in W.W. Grainger during the 2nd quarter worth $621,127,000. International Assets Investment Management LLC boosted its stake in W.W. Grainger by 147,683.3% during the 3rd quarter. International Assets Investment Management LLC now owns 300,000 shares of the industrial products company's stock worth $373,728,000 after purchasing an additional 299,797 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of W.W. Grainger during the second quarter worth $407,051,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of W.W. Grainger during the second quarter worth $324,824,000. 80.70% of the stock is owned by institutional investors and hedge funds.

W.W. Grainger Stock Performance

NYSE GWW opened at $1,396.23 on Wednesday. The stock's fifty day moving average is $1,303.50 and its two-hundred day moving average is $1,239.03. The firm has a market capitalization of $65.76 billion, a P/E ratio of 35.60, a price-to-earnings-growth ratio of 2.44 and a beta of 0.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.70 and a current ratio of 2.81. W.W. Grainger, Inc. has a fifty-two week low of $906.52 and a fifty-two week high of $1,419.91.

W.W. Grainger (NYSE:GWW - Get Free Report) last issued its earnings results on Tuesday, August 4th. The industrial products company reported $12.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.30 by $0.71. W.W. Grainger had a return on equity of 48.73% and a net margin of 9.92%. The company had revenue of $5.02 billion during the quarter, compared to analysts' expectations of $4.96 billion. During the same period in the prior year, the business earned $9.97 EPS. The firm's quarterly revenue was up 10.3% on a year-over-year basis. On average, research analysts anticipate that W.W. Grainger, Inc. will post 46.31 earnings per share for the current year.

W.W. Grainger Dividend Announcement

The company 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 dividend of $2.49 per share. The ex-dividend date of this dividend is Monday, November 9th. This represents a $9.96 annualized dividend and a dividend yield of 0.7%. W.W. Grainger's payout ratio is presently 25.40%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GWW shares. Barclays decreased their price target on shares of W.W. Grainger from $1,185.00 to $1,172.00 and set an "underweight" rating on the stock in a research note on Friday, September 25th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of W.W. Grainger in a research note on Thursday, October 15th. Royal Bank Of Canada dropped their price objective on shares of W.W. Grainger from $1,428.00 to $1,427.00 and set a "sector perform" rating for the company in a research note on Wednesday, October 14th. Morgan Stanley increased their price objective on shares of W.W. Grainger from $1,300.00 to $1,400.00 and gave the company an "equal weight" rating in a report on Monday, August 24th. Finally, Oppenheimer raised their target price on shares of W.W. Grainger from $1,350.00 to $1,375.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $1,266.08.

W.W. Grainger Company Profile

W.W. Grainger, Inc is a distributor of maintenance, repair and operating (MRO) supplies for businesses, government agencies and other organizations. Its product offerings include safety equipment, tools, fasteners, electrical and plumbing supplies, material-handling equipment, cleaning and janitorial products, HVAC supplies, and facility-maintenance products.

The company also provides services designed to help customers manage procurement and workplace operations, including product selection support, inventory-management programs, digital purchasing tools, and technical assistance.

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