Edgestream Partners L.P. Makes New Investment in Global Industrial Company $GIC

Edgestream Partners L.P. purchased a new position in shares of Global Industrial Company (NYSE:GIC) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 92,643 shares of the company’s stock, valued at approximately $2,920,000.

Several other institutional investors also recently bought and sold shares of GIC. Tudor Investment Corp ET AL acquired a new position in shares of Global Industrial during the 3rd quarter worth approximately $2,284,000. Meritage Portfolio Management lifted its position in shares of Global Industrial by 34.8% during the 4th quarter. Meritage Portfolio Management now owns 107,047 shares of the company’s stock valued at $3,128,000 after buying an additional 27,623 shares in the last quarter. Inspire Investing LLC acquired a new stake in Global Industrial in the 1st quarter valued at $1,704,000. Hsbc Holdings PLC increased its holdings in Global Industrial by 40.3% in the 4th quarter. Hsbc Holdings PLC now owns 63,114 shares of the company’s stock worth $1,860,000 after acquiring an additional 18,123 shares in the last quarter. Finally, Globeflex Capital L P purchased a new stake in Global Industrial in the 1st quarter worth $249,000. 31.19% of the stock is owned by institutional investors and hedge funds.

Global Industrial Stock Up 1.4%

Shares of GIC opened at $35.69 on Friday. Global Industrial Company has a 52-week low of $26.40 and a 52-week high of $38.79. The stock has a market cap of $1.37 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.18 and a beta of 0.76. The firm’s fifty day moving average is $32.89 and its two-hundred day moving average is $32.04.

Global Industrial (NYSE:GIC) last issued its earnings results on Tuesday, May 5th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $350.40 million during the quarter, compared to analyst estimates of $344.13 million. Global Industrial had a net margin of 5.33% and a return on equity of 23.53%. As a group, research analysts anticipate that Global Industrial Company will post 1.89 earnings per share for the current year.

Global Industrial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 18th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, May 18th. Global Industrial’s dividend payout ratio is currently 58.03%.

Wall Street Analyst Weigh In

GIC has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Global Industrial from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Global Industrial Company 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.