W.W. Grainger, Inc. (NYSE:GWW) Plans Dividend Increase – $1.72 Per Share

W.W. Grainger, Inc. (NYSE:GWWGet Rating) declared a quarterly dividend on Wednesday, April 27th, RTT News reports. Shareholders of record on Monday, May 9th will be given a dividend of 1.72 per share by the industrial products company on Wednesday, June 1st. This represents a $6.88 dividend on an annualized basis and a yield of 1.38%. This is a positive change from W.W. Grainger’s previous quarterly dividend of $1.62.

W.W. Grainger has raised its dividend payment by an average of 6.0% per year over the last three years and has increased its dividend every year for the last 51 years. W.W. Grainger has a payout ratio of 23.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect W.W. Grainger to earn $27.39 per share next year, which means the company should continue to be able to cover its $6.48 annual dividend with an expected future payout ratio of 23.7%.

Shares of W.W. Grainger stock traded up $6.30 during trading hours on Wednesday, reaching $498.43. 7,109 shares of the company’s stock were exchanged, compared to its average volume of 297,221. W.W. Grainger has a 1 year low of $391.16 and a 1 year high of $529.91. The company has a market capitalization of $25.47 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 1.61 and a beta of 1.25. The business has a fifty day moving average of $497.18 and a two-hundred day moving average of $488.83. The company has a quick ratio of 1.40, a current ratio of 2.63 and a debt-to-equity ratio of 1.09.

W.W. Grainger (NYSE:GWWGet Rating) last announced its earnings results on Thursday, February 3rd. The industrial products company reported $5.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.25 by $0.19. The company had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.26 billion. W.W. Grainger had a net margin of 7.98% and a return on equity of 48.91%. W.W. Grainger’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.66 earnings per share. As a group, research analysts predict that W.W. Grainger will post 24.48 EPS for the current year.

GWW has been the topic of a number of research reports. Morgan Stanley lowered shares of W.W. Grainger from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $562.00 to $480.00 in a research report on Thursday, April 14th. Robert W. Baird upped their price target on shares of W.W. Grainger from $525.00 to $560.00 in a research note on Friday, February 4th. StockNews.com assumed coverage on shares of W.W. Grainger in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Atlantic Securities upgraded shares of W.W. Grainger from a “neutral” rating to an “overweight” rating and set a $580.00 price objective on the stock in a research report on Tuesday, March 15th. Finally, Royal Bank of Canada boosted their price objective on shares of W.W. Grainger from $392.00 to $432.00 in a research report on Friday, February 4th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $503.09.

In other W.W. Grainger news, CFO Deidra C. Merriwether sold 488 shares of the stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $488.62, for a total value of $238,446.56. Following the completion of the sale, the chief financial officer now owns 7,605 shares of the company’s stock, valued at $3,715,955.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John L. Howard sold 1,732 shares of the stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $509.24, for a total transaction of $882,003.68. Following the completion of the sale, the vice president now directly owns 20,567 shares of the company’s stock, valued at approximately $10,473,539.08. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Deutsche Bank AG grew its position in shares of W.W. Grainger by 9.7% during the fourth quarter. Deutsche Bank AG now owns 478,361 shares of the industrial products company’s stock worth $247,906,000 after buying an additional 42,395 shares in the last quarter. State of Tennessee Treasury Department grew its position in shares of W.W. Grainger by 67.5% during the fourth quarter. State of Tennessee Treasury Department now owns 12,388 shares of the industrial products company’s stock worth $6,420,000 after buying an additional 4,992 shares in the last quarter. Toroso Investments LLC grew its position in shares of W.W. Grainger by 477.9% during the fourth quarter. Toroso Investments LLC now owns 5,502 shares of the industrial products company’s stock worth $2,851,000 after buying an additional 4,550 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in shares of W.W. Grainger during the fourth quarter worth approximately $1,431,000. Finally, Weiss Multi Strategy Advisers LLC acquired a new stake in shares of W.W. Grainger during the fourth quarter worth approximately $1,324,000. 77.20% of the stock is owned by institutional investors.

W.W. Grainger Company Profile (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.

Further Reading

Dividend History for W.W. Grainger (NYSE:GWW)

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