Federated Hermes Inc. Raises Holdings in W.W. Grainger, Inc. (NYSE:GWW)

Federated Hermes Inc. raised its holdings in shares of W.W. Grainger, Inc. (NYSE:GWW) by 5.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,614 shares of the industrial products company’s stock after purchasing an additional 523 shares during the period. Federated Hermes Inc.’s holdings in W.W. Grainger were worth $9,576,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GWW. Norges Bank bought a new position in shares of W.W. Grainger during the 4th quarter valued at $392,470,000. Clearbridge Investments LLC lifted its holdings in shares of W.W. Grainger by 17.4% during the 1st quarter. Clearbridge Investments LLC now owns 1,148,051 shares of the industrial products company’s stock valued at $1,167,913,000 after buying an additional 169,897 shares during the period. Swedbank AB bought a new position in shares of W.W. Grainger during the 1st quarter valued at $159,365,000. Acadian Asset Management LLC raised its holdings in W.W. Grainger by 67.9% in the 2nd quarter. Acadian Asset Management LLC now owns 143,193 shares of the industrial products company’s stock worth $129,175,000 after purchasing an additional 57,894 shares during the period. Finally, FIL Ltd raised its holdings in W.W. Grainger by 21.4% in the 4th quarter. FIL Ltd now owns 240,856 shares of the industrial products company’s stock worth $199,595,000 after purchasing an additional 42,395 shares during the period. 80.70% of the stock is owned by institutional investors.

W.W. Grainger Price Performance

NYSE:GWW opened at $1,013.92 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 2.30 and a debt-to-equity ratio of 0.50. The business’s 50-day simple moving average is $961.14 and its two-hundred day simple moving average is $954.95. The stock has a market cap of $49.75 billion, a PE ratio of 27.99, a P/E/G ratio of 1.96 and a beta of 1.16. W.W. Grainger, Inc. has a 52 week low of $674.41 and a 52 week high of $1,034.18.

W.W. Grainger (NYSE:GWW) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $9.76 earnings per share for the quarter, beating analysts’ consensus estimates of $9.58 by $0.18. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.35 billion. W.W. Grainger had a return on equity of 53.25% and a net margin of 10.86%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $9.28 earnings per share. As a group, analysts forecast that W.W. Grainger, Inc. will post 38.75 EPS for the current fiscal year.

W.W. Grainger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Monday, August 12th were given a dividend of $2.05 per share. The ex-dividend date was Monday, August 12th. This represents a $8.20 dividend on an annualized basis and a dividend yield of 0.81%. W.W. Grainger’s payout ratio is 22.64%.

Insider Activity

In other news, SVP Matt Fortin sold 511 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $915.20, for a total transaction of $467,667.20. Following the completion of the transaction, the senior vice president now owns 1,848 shares in the company, valued at $1,691,289.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 9.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. StockNews.com cut W.W. Grainger from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Baird R W cut W.W. Grainger from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Royal Bank of Canada decreased their target price on W.W. Grainger from $978.00 to $972.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Morgan Stanley assumed coverage on W.W. Grainger in a report on Friday, September 6th. They issued an “equal weight” rating and a $990.00 target price on the stock. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of W.W. Grainger in a report on Friday, June 14th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $1,014.11.

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.