American Century Companies Inc. Sells 15,742 Shares of Global Industrial Company $GIC

Key Points

• American Century Companies Inc. has reduced its stake in Global Industrial Company (GIC) by 30.3%, now holding 36,148 shares valued at approximately $810,000.
• Several other institutional investors have significantly increased their positions in Global Industrial, including CWM LLC and Russell Investments Group, with increases of up to 3,930.6% in their holdings.
• Wall Street analysts have upgraded Global Industrial from a "buy" to a "strong-buy" rating, anticipating continued growth for the company.

American Century Companies Inc. lessened its position in shares of Global Industrial Company (NYSE:GIC - Free Report) by 30.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,148 shares of the company's stock after selling 15,742 shares during the quarter. American Century Companies Inc. owned approximately 0.09% of Global Industrial worth $810,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its stake in shares of Global Industrial by 340.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company's stock valued at $39,000 after acquiring an additional 1,206 shares during the last quarter. CWM LLC lifted its holdings in Global Industrial by 187.7% in the 1st quarter. CWM LLC now owns 1,614 shares of the company's stock valued at $36,000 after purchasing an additional 1,053 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Global Industrial by 1,600.0% during the 1st quarter. GAMMA Investing LLC now owns 2,397 shares of the company's stock worth $54,000 after purchasing an additional 2,256 shares during the last quarter. US Bancorp DE boosted its stake in shares of Global Industrial by 954.3% during the 1st quarter. US Bancorp DE now owns 3,068 shares of the company's stock worth $69,000 after purchasing an additional 2,777 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of 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 buying an additional 6,682 shares in the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Global Industrial Stock Up 0.2%

Shares of GIC traded up $0.07 during mid-day trading on Wednesday, hitting $37.59. The company had a trading volume of 89,611 shares, compared to its average volume of 127,459. Global Industrial Company has a 1-year low of $20.79 and a 1-year high of $38.79. The business's 50-day simple moving average is $32.83 and its 200-day simple moving average is $27.40. The stock has a market cap of $1.44 billion, a PE ratio of 21.98, a P/E/G ratio of 1.20 and a beta of 0.84.

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

Global Industrial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 2.8%. Global Industrial's dividend payout ratio (DPR) is 60.82%.

About Global Industrial

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.