Hillsdale Investment Management Inc. Buys New Stake in Global Industrial Company $GIC

Hillsdale Investment Management Inc. purchased a new stake in shares of Global Industrial Company (NYSE:GIC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 190,491 shares of the company’s stock, valued at approximately $6,985,000. Hillsdale Investment Management Inc. owned about 0.49% of Global Industrial as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Teacher Retirement System of Texas boosted its position in shares of Global Industrial by 3.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 13,938 shares of the company’s stock worth $376,000 after purchasing an additional 511 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Global Industrial by 6.5% during the 3rd quarter. GSA Capital Partners LLP now owns 9,410 shares of the company’s stock worth $345,000 after acquiring an additional 574 shares during the period. Meritage Portfolio Management raised its holdings in Global Industrial by 0.8% in the 3rd quarter. Meritage Portfolio Management now owns 79,424 shares of the company’s stock valued at $2,912,000 after acquiring an additional 649 shares during the period. Rhumbline Advisers grew its holdings in Global Industrial by 3.2% in the 3rd quarter. Rhumbline Advisers now owns 21,207 shares of the company’s stock valued at $778,000 after buying an additional 666 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Global Industrial by 16.3% during the second 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 during the period. Institutional investors and hedge funds own 31.19% of the company’s stock.

Analysts Set New Price Targets

GIC has been the topic of a number of analyst reports. Zacks Research upgraded shares of Global Industrial from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Industrial in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Global Industrial currently has an average rating of “Hold”.

Global Industrial Stock Performance

NYSE:GIC opened at $32.06 on Friday. Global Industrial Company has a 52 week low of $20.79 and a 52 week high of $38.79. The firm has a 50-day moving average price of $30.92 and a two-hundred day moving average price of $32.35. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 1.01 and a beta of 0.90.

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.