Cubist Systematic Strategies LLC Purchases New Stake in Global Industrial Company $GIC

Key Points

• Cubist Systematic Strategies LLC acquired 34,308 shares in Global Industrial Company, valued at approximately $768,000, representing a 0.09% ownership stake.
• Multiple institutional investors increased their positions in Global Industrial, with notable raises of up to 1,600.0% from GAMMA Investing LLC and 954.3% from US Bancorp DE during the first quarter.
• Wall Street Zen upgraded Global Industrial from a "buy" to a "strong-buy" rating, reflecting positive analyst sentiment following the company’s earnings report that exceeded estimates.

Cubist Systematic Strategies LLC acquired a new position in shares of Global Industrial Company (NYSE:GIC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 34,308 shares of the company's stock, valued at approximately $768,000. Cubist Systematic Strategies LLC owned 0.09% of Global Industrial at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Nuveen Asset Management LLC lifted its position in Global Industrial by 4.8% in the fourth quarter. Nuveen Asset Management LLC now owns 57,688 shares of the company's stock valued at $1,430,000 after purchasing an additional 2,645 shares during the period. GAMMA Investing LLC lifted its holdings in Global Industrial by 1,600.0% in the 1st quarter. GAMMA Investing LLC now owns 2,397 shares of the company's stock worth $54,000 after buying an additional 2,256 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Global Industrial by 135.5% in the 1st quarter. SG Americas Securities LLC now owns 18,780 shares of the company's stock valued at $421,000 after purchasing an additional 10,806 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Global Industrial by 3,930.6% during the first quarter. Russell Investments Group Ltd. now owns 6,852 shares of the company's stock worth $153,000 after acquiring an additional 6,682 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Global Industrial by 50.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,446 shares of the company's stock worth $1,102,000 after purchasing an additional 14,999 shares during the last quarter. Hedge funds and other institutional investors own 31.19% of the company's stock.

Global Industrial Stock Up 0.2%

NYSE GIC traded up $0.09 during trading hours on Monday, hitting $37.08. The company's stock had a trading volume of 99,019 shares, compared to its average volume of 125,418. The stock has a fifty day moving average of $33.38 and a 200 day moving average of $27.74. The firm has a market capitalization of $1.42 billion, a P/E ratio of 21.68, a PEG ratio of 1.18 and a beta of 0.84. Global Industrial Company has a twelve month low of $20.79 and a twelve month high of $38.79.

Global Industrial (NYSE:GIC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.15. Global Industrial had a net margin of 5.00% and a return on equity of 22.89%. The company had revenue of $358.90 million during the quarter, compared to the consensus estimate of $351.81 million. On average, analysts predict that Global Industrial Company will post 1.59 earnings per share for the current year.

Global Industrial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, August 11th. Global Industrial's payout ratio is presently 60.82%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Global Industrial from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd.

Global Industrial Profile

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.