Cullen Frost Bankers Inc. continued to hold its position in shares of W.W. Grainger, Inc. (NYSE:GWW) during the second quarter, Holdings Channel reports. The institutional investor owned 1,310 shares of the industrial products company’s stock at the end of the second quarter. Cullen Frost Bankers Inc.’s holdings in W.W. Grainger were worth $237,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the company. Harfst & Associates Inc. purchased a new position in shares of W.W. Grainger during the first quarter worth about $116,000. Salem Investment Counselors Inc. purchased a new position in shares of W.W. Grainger during the first quarter worth about $138,000. NEXT Financial Group Inc raised its position in shares of W.W. Grainger by 35.0% in the first quarter. NEXT Financial Group Inc now owns 783 shares of the industrial products company’s stock worth $151,000 after buying an additional 203 shares during the period. Chicago Partners Investment Group LLC raised its position in shares of W.W. Grainger by 18,650.0% in the second quarter. Chicago Partners Investment Group LLC now owns 750 shares of the industrial products company’s stock worth $155,000 after buying an additional 746 shares during the period. Finally, Enterprise Financial Services Corp raised its position in shares of W.W. Grainger by 80.8% in the second quarter. Enterprise Financial Services Corp now owns 902 shares of the industrial products company’s stock worth $163,000 after buying an additional 403 shares during the period. Institutional investors own 82.43% of the company’s stock.
Shares of W.W. Grainger, Inc. (NYSE:GWW) opened at 166.10 on Thursday. The firm has a market capitalization of $9.58 billion, a PE ratio of 19.15 and a beta of 0.74. The stock’s 50 day moving average price is $172.18 and its 200-day moving average price is $206.37. W.W. Grainger, Inc. has a 52-week low of $160.29 and a 52-week high of $262.71.
W.W. Grainger (NYSE:GWW) last announced its earnings results on Wednesday, July 19th. The industrial products company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.09. W.W. Grainger had a net margin of 5.08% and a return on equity of 34.03%. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the prior year, the company earned $2.89 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that W.W. Grainger, Inc. will post $10.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be issued a $1.28 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $5.12 dividend on an annualized basis and a dividend yield of 3.08%. W.W. Grainger’s payout ratio is 59.12%.
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A number of equities analysts recently issued reports on GWW shares. TheStreet lowered W.W. Grainger from a “b-” rating to a “c+” rating in a research note on Thursday, May 11th. Stifel Nicolaus restated a “hold” rating and issued a $180.00 target price (down previously from $204.00) on shares of W.W. Grainger in a research note on Friday, June 2nd. BMO Capital Markets restated a “hold” rating and issued a $198.00 target price on shares of W.W. Grainger in a research note on Thursday, May 25th. Stephens set a $190.00 target price on W.W. Grainger and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Finally, BidaskClub upgraded W.W. Grainger from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Five research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. W.W. Grainger has an average rating of “Hold” and an average price target of $180.33.
About W.W. Grainger
W.W. Grainger, Inc (Grainger) is a distributor of maintenance, repair and operating (MRO) supplies and other related products and services. The Company offers its products and services to businesses and institutions in the United States and Canada, with presence also in Europe, Asia and Latin America.
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