Deidra C. Merriwether, the Senior Vice President and Chief Financial Officer of W.W. Grainger, Inc. (NYSE:GWW), recently sold 704 shares of the company's common stock. The transaction, executed on November 1, was part of a pre-established trading plan under Rule 10b5-1. The shares were sold at an average price of $1,105.59, totaling approximately $778,336.
Following the sale, Merriwether holds 9,509 shares of W.W. Grainger's common stock. Additionally, she disposed of 561 shares to cover tax obligations related to equity compensation, valued at $622,278.
These transactions reflect Merriwether's ongoing management of her stock holdings in the company, in line with her role as a senior executive at the industrial supply firm.
In other recent news, W.W. Grainger reported steady growth in its third quarter 2024 earnings results. The company saw a 4.3% increase in total sales, and a 4.7% rise in diluted EPS to $9.87, with an operating margin of 15.6% and an operating cash flow of $611 million. Grainger also returned $328 million to shareholders through dividends and share repurchases.
In terms of specific segments, the High-Touch Solutions segment experienced a 3.3% sales increase, while the Endless Assortment segment, which includes Zoro and MonotaRO, reported an 8.1% sales increase. Grainger has updated its full-year 2024 earnings guidance, projecting daily organic constant currency sales growth of 4.5% to 5.25% and diluted adjusted EPS between $38.65 and $39.35.
These are recent developments for W.W. Grainger. The company remains confident in executing its strategic initiatives and meeting stakeholder goals for the end of the fiscal year, despite a cautious outlook for 2025 due to concerns about strong price increases. However, Grainger has shown resilience in a challenging demand environment, with solid sales growth and a firm commitment to shareholder returns.
InvestingPro Insights
W.W. Grainger's recent stock performance and financial metrics provide additional context to Deidra C. Merriwether's stock sale. According to InvestingPro data, the company's stock is trading near its 52-week high, with a strong return of 15.58% over the last three months and an impressive 43.95% over the past year. This robust performance aligns with the timing of Merriwether's sale, potentially indicating a strategic decision to capitalize on the stock's high valuation.
The company's financial health appears solid, with InvestingPro Tips highlighting that Grainger has raised its dividend for 32 consecutive years and maintained dividend payments for 54 years. This consistent dividend growth, coupled with a current dividend yield of 0.75%, underscores the company's commitment to shareholder returns.
Grainger's market position is also noteworthy, with InvestingPro Tips identifying it as a prominent player in the Trading Companies & Distributors industry. The company's strong financial footing is further evidenced by its ability to cover interest payments with cash flows and maintain a moderate debt level.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips on W.W. Grainger, providing deeper insights into the company's financial health and market position.
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