Hsbc Holdings PLC Boosts Holdings in Global Industrial Company $GIC

Hsbc Holdings PLC lifted its holdings in Global Industrial Company (NYSE:GIC) by 40.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,114 shares of the company’s stock after purchasing an additional 18,123 shares during the period. Hsbc Holdings PLC’s holdings in Global Industrial were worth $1,860,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GIC. New York State Teachers Retirement System acquired a new stake in Global Industrial during the 4th quarter worth approximately $38,000. Advisors Asset Management Inc. grew its stake in shares of Global Industrial by 234.9% in the fourth quarter. Advisors Asset Management Inc. now owns 2,502 shares of the company’s stock worth $73,000 after acquiring an additional 1,755 shares in the last quarter. State of Wyoming acquired a new position in shares of Global Industrial in the second quarter worth $117,000. State of Alaska Department of Revenue increased its position in shares of Global Industrial by 111.4% during the fourth quarter. State of Alaska Department of Revenue now owns 4,562 shares of the company’s stock worth $133,000 after acquiring an additional 2,404 shares during the period. Finally, Quantbot Technologies LP increased its position in shares of Global Industrial by 242.0% during the third quarter. Quantbot Technologies LP now owns 5,958 shares of the company’s stock worth $218,000 after acquiring an additional 4,216 shares during the period. 31.19% of the stock is owned by hedge funds and other institutional investors.

Global Industrial Stock Down 3.3%

Shares of NYSE:GIC opened at $33.98 on Tuesday. Global Industrial Company has a fifty-two week low of $26.40 and a fifty-two week high of $38.79. The firm’s 50 day moving average price is $31.42 and its 200 day moving average price is $31.33. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 1.16 and a beta of 0.79.

Global Industrial (NYSE:GIC) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). Global Industrial had a return on equity of 23.53% and a net margin of 5.33%.The firm had revenue of $350.40 million for the quarter, compared to analyst estimates of $344.13 million. On average, equities analysts anticipate that Global Industrial Company will post 1.89 EPS for the current year.

Global Industrial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 18th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, May 18th. Global Industrial’s payout ratio is 58.03%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GIC shares. Wall Street Zen cut Global Industrial from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings cut Global Industrial from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

About Global Industrial

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.