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W.W. Grainger, Inc. (NYSE:GWW) Sees Significant Increase in Short Interest

Financial News Live ·  10/05 00:52

W.W. Grainger, Inc. (NYSE:GWW – Get Rating) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 1,210,000 shares, a growth of 11.0% from the August 31st total of 1,090,000 shares. Based on an average daily trading volume, of 324,200 shares, the days-to-cover ratio is presently 3.7 days. Approximately 2.7% of the company's shares are short sold.

Wall Street Analyst Weigh In

Several analysts have issued reports on GWW shares. Morgan Stanley lifted their price target on W.W. Grainger from $421.00 to $448.00 and gave the company an "underweight" rating in a research note on Monday, August 1st. Robert W. Baird lifted their price target on W.W. Grainger from $505.00 to $600.00 and gave the company an "outperform" rating in a research note on Monday, August 1st. Royal Bank of Canada lifted their price target on W.W. Grainger from $399.00 to $422.00 and gave the company an "underperform" rating in a research note on Monday, August 1st. StockNews.com downgraded W.W. Grainger from a "strong-buy" rating to a "buy" rating in a research note on Thursday, June 16th. Finally, Stephens lifted their target price on W.W. Grainger from $565.00 to $600.00 and gave the company an "equal weight" rating in a research report on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $538.33.

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Insider Buying and Selling

In other W.W. Grainger news, VP Paige K. Robbins sold 2,330 shares of W.W. Grainger stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $500.03, for a total value of $1,165,069.90. Following the sale, the vice president now owns 11,996 shares of the company's stock, valued at approximately $5,998,359.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 10.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On W.W. Grainger

Hedge funds and other institutional investors have recently bought and sold shares of the business. Riverview Trust Co bought a new position in W.W. Grainger during the first quarter worth about $26,000. Ronald Blue Trust Inc. bought a new stake in shares of W.W. Grainger during the second quarter worth approximately $27,000. Venture Visionary Partners LLC bought a new stake in shares of W.W. Grainger during the second quarter worth approximately $28,000. Fairfield Bush & CO. bought a new stake in shares of W.W. Grainger during the first quarter worth approximately $30,000. Finally, Cyrus J. Lawrence LLC bought a new stake in shares of W.W. Grainger during the first quarter worth approximately $32,000. Institutional investors own 71.33% of the company's stock.

W.W. Grainger Stock Up 2.5 %

Shares of NYSE:GWW traded up $12.64 during midday trading on Tuesday, reaching $519.46. The company had a trading volume of 4,870 shares, compared to its average volume of 409,510. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.94. The business's 50 day moving average price is $545.30 and its 200 day moving average price is $505.99. The stock has a market cap of $26.42 billion, a PE ratio of 19.99, a P/E/G ratio of 1.34 and a beta of 1.21. W.W. Grainger has a 1-year low of $393.72 and a 1-year high of $588.62.

W.W. Grainger (NYSE:GWW – Get Rating) last released its earnings results on Friday, July 29th. The industrial products company reported $7.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.72 by $0.47. W.W. Grainger had a return on equity of 57.59% and a net margin of 9.23%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the business earned $4.27 earnings per share. W.W. Grainger's quarterly revenue was up 19.6% on a year-over-year basis. Research analysts forecast that W.W. Grainger will post 28.07 EPS for the current fiscal year.

W.W. Grainger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 8th were issued a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Friday, August 5th. W.W. Grainger's payout ratio is currently 27.14%.

About W.W. Grainger

(Get Rating)

W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) products and services in the United States, Japan, Canada, the United Kingdom, and internationally. The company operates through two segments, High-Touch Solutions N.A. and Endless Assortment. It offers safety and security supplies, material handling and storage equipment, pumps and plumbing equipment, cleaning and maintenance supplies, and metalworking and hand tools.

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