Shares are trading at $197.70 which is marginally over $184.58, the stock’s 50 day moving average and significantly above the 200 day moving average of $177.42. The 50 day moving average was up by +7.11% whereas the 200 day average was up by +11.43%. Trading was light with 766K shares changing hands by the end of trading on Tuesday. Volume was down 47.99% under the stocks average daily volume.
Investors are feeling more bearish on shares of W.W. Grainger, Inc. of late as indicated by the increase in short interest. The firm experienced a rise in short interest of 4.82% between September 29, 2017 and October 13, 2017. Short shares grew from 9,725,764 to 10,194,972 over that timeframe. Days to cover increased from 12.0 to 14.0 and the percentage of shorted shares is 0.18% as of October 13.
There has been some selling insider activity on W.W. Grainger, Inc. (NYSE:GWW) recently. Eric R. Tapia, Vice President & Controller disclosed the sale of 190 shares of GWW stock. The shares were sold on October 20th for an average price of $208.26. The Vice President & Controller now owns $780,558 of the stock according to the SEC filing.
Additionally, here are a few investment firms who have increased or decreased their stake in (GWW). As of quarter end Korea Investment Corp had acquired 7,600 shares growing its stake by 17.0%. The value of the investment in W.W. Grainger, Inc. increased from $8,056,000 to $9,388,000 a change of $1,332,000 quarter over quarter. Longview Partners (guernsey) Ltd grew its stake by buying 1,245,771 shares an increase of 33.2% as of 09/30/2017. Longview Partners (guernsey) Ltd owns 5,001,477 shares worth $899,015,000. The value of the position overall is up by 32.6%.
As of the end of the quarter Cornerstone Advisors, Inc. had sold a total of 89 shares trimming its holdings by 91.8%. The value of the company’s investment in W.W. Grainger, Inc. went from $18,000 to $1,000 a change of 94.4% quarter to quarter. Andra Ap-fonden expanded its holdings by buying 2,100 shares an increase of 11.4% in the quarter. Andra Ap-fonden now controls 20,600 shares with a value of $3,703,000. The total value of its holdings increased 10.9%.
October 2 investment analysts at Morgan Stanley made no change to the company rating of “Underweight” but raised the price expectation from $172.00 to $178.00. On October 18 the stock rating was upgraded from “Perform” to “Underweight” and a price target of $185.00 was set by analysts at Oppenheimer.
On October 18 Morgan Stanley maintained a stock rating of “Underweight” and raised the price target to $185.00 from $178.00. October 18 investment analysts at Credit Suisse held the stock rating at “Market Perform” but lowered the price target to $194.00 from $205.00.
On October 18 BMO Capital kept the company rating at “Market Perform” and lowered the price expectation from $300.00 to $194.00. On October 19 the company was set at “Sell” according to a UBS report a cut from the previous “Neutral” rating.
The company is now down by 0.85% percent from yesterday’s close. W.W. Grainger, Inc. also announced a dividend for shareholders that will be paid on Friday the 1st of December 2017. The dividend will be $1.280 per share for the quarter which comes to $5.12 on an annualized basis. This dividend amount will represent a yield of $2.56. The ex-dividend date is Thursday August 10th, 2017.
The P/E ratio is currently 23.59 and the market cap of the company is 11.27B. As of the latest earnings report the EPS was $8.38 and is projected to be $10.68 for the current year with 56,983,000 shares currently outstanding. Next quarter’s EPS is forecasted at $2.73 and the next full year EPS is projected to be $11.05.
W.W. Grainger, Inc. (Grainger), launched on December 27, 1928, 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. The Company operates through two segments, which include the United States and Canada. The Business’s business support functions provide coordination and guidance in the areas of accounting and finance, business development, communications and investor relations, compensation and benefits, information systems, health and safety, global supply chain functions, human resources, risk management, internal audit, legal, real estate, security, tax and treasury. The Business’s other businesses also include Zoro Tools, Inc. (Zoro), the single channel online business in the United States, MonotaRO Co. (MonotaRO) in Japan, and operations in Europe, Asia and Latin America..