Walleye Capital LLC Purchases New Position in Global Industrial Company $GIC

Walleye Capital LLC purchased a new stake in Global Industrial Company (NYSE:GIC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,485 shares of the company’s stock, valued at approximately $1,923,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Edgestream Partners L.P. purchased a new stake in shares of Global Industrial during the 1st quarter worth approximately $2,920,000. Meritage Portfolio Management grew its position in shares of Global Industrial by 34.8% in 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 during the last quarter. Inspire Investing LLC acquired a new stake in Global Industrial during the 1st quarter worth $1,704,000. Hsbc Holdings PLC raised its stake in Global Industrial by 40.3% during 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, First Trust Advisors LP lifted its position in Global Industrial by 55.6% in the first quarter. First Trust Advisors LP now owns 58,553 shares of the company’s stock valued at $1,846,000 after acquiring an additional 20,934 shares during the last quarter. Institutional investors and hedge funds own 31.19% of the company’s stock.

Insider Transactions at Global Industrial

In other Global Industrial news, VP Thomas Axmacher sold 1,848 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $38.60, for a total transaction of $71,332.80. Following the transaction, the vice president directly owned 7,366 shares of the company’s stock, valued at approximately $284,327.60. This trade represents a 20.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 64.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GIC. Weiss Ratings upgraded shares of Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Global Industrial Trading Down 0.2%

Shares of NYSE GIC opened at $39.01 on Friday. The stock has a market cap of $1.49 billion, a P/E ratio of 17.41, a P/E/G ratio of 1.31 and a beta of 0.75. Global Industrial Company has a twelve month low of $26.40 and a twelve month high of $40.71. The stock has a 50 day moving average of $34.58 and a two-hundred day moving average of $32.56.

Global Industrial (NYSE:GIC) last announced its earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $386.60 million for the quarter, compared to analyst estimates of $377.40 million. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. As a group, research analysts predict that Global Industrial Company will post 1.87 earnings per share for the current year.

Global Industrial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, August 17th. This represents a $1.12 dividend on an annualized basis and a yield of 2.9%. Global Industrial’s dividend payout ratio is currently 50.00%.

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.