Global Industrial (NYSE:GIC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Global Industrial (NYSE:GIC) from a buy rating to a strong-buy rating in a report published on Saturday morning.

Separately, Weiss Ratings upgraded shares of Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Global Industrial Stock Up 2.0%

Shares of NYSE GIC opened at $39.93 on Friday. Global Industrial has a 52 week low of $26.40 and a 52 week high of $40.26. The firm has a 50-day moving average price of $33.89 and a 200 day moving average price of $32.35. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 1.30 and a beta of 0.75.

Global Industrial (NYSE:GIC) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. The firm had revenue of $386.60 million for the quarter, compared to the consensus estimate of $377.40 million. Equities research analysts expect that Global Industrial will post 1.88 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be given a $0.28 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.12 annualized dividend and a dividend yield of 2.8%. Global Industrial’s payout ratio is currently 50.00%.

Insider Buying and Selling

In related news, VP Thomas Axmacher sold 1,848 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $38.60, for a total value of $71,332.80. Following the sale, the vice president directly owned 7,366 shares of the company’s stock, valued at approximately $284,327.60. This represents a 20.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 64.51% of the company’s stock.

Institutional Trading of Global Industrial

Several institutional investors and hedge funds have recently modified their holdings of GIC. AQR Capital Management LLC increased its stake in shares of Global Industrial by 37.4% during the 1st quarter. AQR Capital Management LLC now owns 61,993 shares of the company’s stock worth $1,389,000 after purchasing an additional 16,880 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Global Industrial by 66.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 143,162 shares of the company’s stock valued at $3,207,000 after buying an additional 57,056 shares in the last quarter. Jane Street Group LLC lifted its stake in Global Industrial by 16.4% in the 1st quarter. Jane Street Group LLC now owns 17,806 shares of the company’s stock valued at $399,000 after buying an additional 2,512 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Global Industrial during the 2nd quarter valued at $231,000. Finally, American Century Companies Inc. grew its holdings in Global Industrial by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 38,952 shares of the company’s stock valued at $1,052,000 after buying an additional 2,804 shares during the last quarter. Hedge funds and other institutional investors own 31.19% of the company’s stock.

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.