Grainger (LON:GRI) Reaches New 1-Year Low – Here’s What Happened

Grainger plc (LON:GRI) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as GBX 215 ($2.68) and last traded at GBX 216.50 ($2.70), with a volume of 303400 shares changing hands. The stock had previously closed at GBX 221.50 ($2.76).

Wall Street Analyst Weigh In

GRI has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 336 ($4.19) target price on shares of Grainger in a research note on Friday, November 22nd. Berenberg Bank restated a “buy” rating and set a GBX 299 ($3.73) target price on shares of Grainger in a research note on Friday, November 29th.

Grainger Stock Performance

The company has a market capitalization of £1.58 billion, a price-to-earnings ratio of 8,183.33, a price-to-earnings-growth ratio of 1.51 and a beta of 0.71. The company has a current ratio of 3.81, a quick ratio of 0.87 and a debt-to-equity ratio of 84.35. The stock has a 50-day simple moving average of GBX 227.84 and a 200-day simple moving average of GBX 236.18.

Grainger Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, February 21st. Investors of record on Thursday, January 16th will be issued a GBX 5.01 ($0.06) dividend. The ex-dividend date is Thursday, January 16th. This is a boost from Grainger’s previous dividend of $2.54. This represents a yield of 2.26%.

Insider Transactions at Grainger

In other Grainger news, insider Robert Hudson sold 48,642 shares of Grainger stock in a transaction on Thursday, December 19th. The shares were sold at an average price of GBX 220 ($2.74), for a total value of £107,012.40 ($133,498.50). Corporate insiders own 1.92% of the company’s stock.

Grainger Company Profile

Founded in Newcastle upon Tyne in 1912, Grainger plc, a FTSE 250 business, is the UK’s largest listed residential landlord and leader in the fast-growing build-to-rent sector, providing c.11,100 rental homes to over 20,000 customers. With a pipeline of secured build-to-rent development projects totalling c.5,000 homes and £1.5bn, Grainger is creating thousands more rental homes by investing in cities across the UK.