CIBC Asset Management Inc Grows Holdings in W.W. Grainger, Inc. (NYSE:GWW)

CIBC Asset Management Inc grew its position in W.W. Grainger, Inc. (NYSE:GWW - Free Report) by 9.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,617 shares of the industrial products company's stock after purchasing an additional 569 shares during the quarter. CIBC Asset Management Inc's holdings in W.W. Grainger were worth $6,874,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. OneDigital Investment Advisors LLC grew its position in W.W. Grainger by 11.4% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 793 shares of the industrial products company's stock worth $824,000 after purchasing an additional 81 shares during the last quarter. Intelligence Driven Advisers LLC purchased a new stake in shares of W.W. Grainger during the third quarter valued at $219,000. Tokio Marine Asset Management Co. Ltd. increased its position in shares of W.W. Grainger by 6.7% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,237 shares of the industrial products company's stock valued at $1,285,000 after acquiring an additional 78 shares during the period. Metis Global Partners LLC lifted its position in W.W. Grainger by 14.5% during the 3rd quarter. Metis Global Partners LLC now owns 2,535 shares of the industrial products company's stock worth $2,633,000 after acquiring an additional 321 shares during the period. Finally, Huntington National Bank grew its stake in W.W. Grainger by 6.9% during the 3rd quarter. Huntington National Bank now owns 1,862 shares of the industrial products company's stock valued at $1,934,000 after purchasing an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GWW. StockNews.com raised W.W. Grainger from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Morgan Stanley began coverage on shares of W.W. Grainger in a report on Friday, September 6th. They set an "equal weight" rating and a $990.00 target price for the company. Wolfe Research raised shares of W.W. Grainger to a "hold" rating in a report on Sunday, September 22nd. Northcoast Research started coverage on W.W. Grainger in a research note on Tuesday, October 29th. They set a "neutral" rating for the company. Finally, Royal Bank of Canada upped their target price on W.W. Grainger from $1,018.00 to $1,125.00 and gave the stock a "sector perform" rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $1,086.50.

Insider Activity

In related news, CEO Donald G. Macpherson sold 27,502 shares of W.W. Grainger stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $1,000.82, for a total transaction of $27,524,551.64. Following the transaction, the chief executive officer now owns 111,559 shares in the company, valued at approximately $111,650,478.38. This trade represents a 19.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Laurie R. Thomson sold 125 shares of W.W. Grainger stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,206.03, for a total value of $150,753.75. Following the transaction, the vice president now owns 675 shares in the company, valued at approximately $814,070.25. This represents a 15.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,900 shares of company stock worth $52,640,733 over the last three months. Insiders own 9.50% of the company's stock.

W.W. Grainger Price Performance

Shares of NYSE GWW traded down $6.20 during trading on Monday, hitting $1,172.13. The company had a trading volume of 191,937 shares, compared to its average volume of 235,469. W.W. Grainger, Inc. has a fifty-two week low of $772.13 and a fifty-two week high of $1,227.66. The company has a quick ratio of 1.68, a current ratio of 2.59 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $1,078.55 and a two-hundred day simple moving average of $988.96. The firm has a market capitalization of $57.08 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 3.25 and a beta of 1.15.

W.W. Grainger (NYSE:GWW - Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $9.87 EPS for the quarter, missing analysts' consensus estimates of $9.98 by ($0.11). The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.40 billion. W.W. Grainger had a net margin of 10.80% and a return on equity of 51.78%. W.W. Grainger's revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $9.43 EPS. On average, research analysts expect that W.W. Grainger, Inc. will post 38.92 earnings per share for the current year.

W.W. Grainger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 11th will be issued a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, November 8th. W.W. Grainger's payout ratio is 22.23%.

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.