Teacher Retirement System of Texas Has $1.10 Million Holdings in Global Industrial Company $GIC

Teacher Retirement System of Texas grew its position in shares of Global Industrial Company (NYSE:GIC) by 114.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,864 shares of the company’s stock after purchasing an additional 15,926 shares during the quarter. Teacher Retirement System of Texas’ holdings in Global Industrial were worth $1,095,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Meritage Portfolio Management raised its stake in Global Industrial by 0.8% during the third quarter. Meritage Portfolio Management now owns 79,424 shares of the company’s stock worth $2,912,000 after buying an additional 649 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Global Industrial by 16.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,972 shares of the company’s stock worth $215,000 after acquiring an additional 1,120 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Global Industrial by 2.3% in the 2nd quarter. Bank of America Corp DE now owns 51,366 shares of the company’s stock valued at $1,387,000 after purchasing an additional 1,137 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Global Industrial by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 308,639 shares of the company’s stock valued at $8,336,000 after purchasing an additional 2,083 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in shares of Global Industrial during the 3rd quarter valued at about $79,000. 31.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on GIC. Zacks Research upgraded Global Industrial from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Global Industrial in a research note on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Global Industrial Price Performance

Shares of NYSE GIC opened at $31.48 on Tuesday. The company has a 50-day moving average price of $29.92 and a 200-day moving average price of $32.14. The stock has a market capitalization of $1.21 billion, a P/E ratio of 17.99, a P/E/G ratio of 0.96 and a beta of 0.88. Global Industrial Company has a 1 year low of $20.79 and a 1 year high of $38.79.

Global Industrial Profile

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.