Redmond Asset Management LLC Invests $406,000 in W.W. Grainger, Inc. (NYSE:GWW)

Redmond Asset Management LLC acquired a new stake in W.W. Grainger, Inc. (NYSE:GWW) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 385 shares of the industrial products company’s stock, valued at approximately $406,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Swedbank AB raised its position in shares of W.W. Grainger by 23.5% during the 3rd quarter. Swedbank AB now owns 193,888 shares of the industrial products company’s stock valued at $201,413,000 after acquiring an additional 36,892 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in W.W. Grainger by 7.0% during the third quarter. Sequoia Financial Advisors LLC now owns 1,167 shares of the industrial products company’s stock valued at $1,212,000 after purchasing an additional 76 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of W.W. Grainger by 10.1% during the third quarter. Private Advisor Group LLC now owns 1,491 shares of the industrial products company’s stock worth $1,549,000 after purchasing an additional 137 shares during the period. Dakota Wealth Management lifted its position in shares of W.W. Grainger by 12.2% in the 3rd quarter. Dakota Wealth Management now owns 3,235 shares of the industrial products company’s stock worth $3,360,000 after buying an additional 351 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of W.W. Grainger in the 3rd quarter valued at about $209,000. Institutional investors and hedge funds own 80.70% of the company’s stock.

W.W. Grainger Stock Performance

GWW stock opened at $1,008.08 on Friday. The company has a 50-day simple moving average of $1,072.84 and a 200 day simple moving average of $1,073.23. The company has a market capitalization of $49.09 billion, a P/E ratio of 26.04, a PEG ratio of 2.70 and a beta of 1.17. The company has a quick ratio of 1.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.62. W.W. Grainger, Inc. has a fifty-two week low of $874.98 and a fifty-two week high of $1,227.66.

W.W. Grainger (NYSE:GWW) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $9.75 by ($0.04). W.W. Grainger had a return on equity of 52.43% and a net margin of 11.12%. During the same quarter last year, the business earned $8.33 earnings per share. Sell-side analysts predict that W.W. Grainger, Inc. will post 40.3 earnings per share for the current fiscal year.

W.W. Grainger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Monday, February 10th will be given a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Monday, February 10th. W.W. Grainger’s dividend payout ratio (DPR) is presently 21.18%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GWW. Royal Bank of Canada cut their target price on shares of W.W. Grainger from $1,113.00 to $1,112.00 and set a “sector perform” rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price target on W.W. Grainger from $1,125.00 to $1,100.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Northcoast Research began coverage on W.W. Grainger in a research report on Tuesday, October 29th. They set a “neutral” rating for the company. UBS Group started coverage on W.W. Grainger in a research note on Wednesday, November 13th. They set a “neutral” rating and a $1,280.00 price objective for the company. Finally, Morgan Stanley raised their target price on W.W. Grainger from $990.00 to $1,215.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $1,148.56.

W.W. Grainger 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.