Edgestream Partners L.P. Acquires Shares of 92,643 Global Industrial Company $GIC

Key Points

• Edgestream Partners L.P. acquired 92,643 shares of Global Industrial Company, valued at approximately $2.92 million, representing about 0.24% of the company. Institutional investors collectively own 31.19% of GIC.
• Global Industrial reported quarterly EPS of $0.39, below the $0.41 analyst consensus, while revenue of $350.4 million exceeded expectations of $344.13 million.
• The company maintains a quarterly dividend of $0.28, equivalent to $1.12 annually and a 3.1% yield. Analysts currently hold an average “Hold” rating on the stock.

Edgestream Partners L.P. acquired a new stake in Global Industrial Company (NYSE:GIC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 92,643 shares of the company's stock, valued at approximately $2,920,000. Edgestream Partners L.P. owned about 0.24% of Global Industrial at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. New York State Teachers Retirement System purchased a new position in shares of Global Industrial during the fourth quarter worth $38,000. Advisors Asset Management Inc. boosted its holdings in Global Industrial by 234.9% in the fourth quarter. Advisors Asset Management Inc. now owns 2,502 shares of the company's stock valued at $73,000 after purchasing an additional 1,755 shares during the last quarter. State of Wyoming purchased a new stake in Global Industrial in the second quarter valued at $117,000. State of Alaska Department of Revenue grew its position in Global Industrial by 111.4% during the 4th quarter. State of Alaska Department of Revenue now owns 4,562 shares of the company's stock worth $133,000 after purchasing an additional 2,404 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in Global Industrial during the 3rd quarter worth about $234,000. Institutional investors and hedge funds own 31.19% of the company's stock.

Global Industrial Price Performance

GIC opened at $35.69 on Friday. The firm has a fifty day moving average price of $32.89 and a 200 day moving average price of $32.04. Global Industrial Company has a 1 year low of $26.40 and a 1 year high of $38.79. The stock has a market cap of $1.37 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.18 and a beta of 0.76.

Global Industrial (NYSE:GIC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). The firm had revenue of $350.40 million for the quarter, compared to analysts' expectations of $344.13 million. Global Industrial had a return on equity of 23.53% and a net margin of 5.33%. Equities analysts expect 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. Shareholders of record on Monday, May 18th were given a $0.28 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.1%. Global Industrial's dividend payout ratio is 58.03%.

Wall Street Analyst Weigh In

GIC has been the subject of a number of recent research reports. Weiss Ratings upgraded Global Industrial from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 16th. Wall Street Zen downgraded Global Industrial from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average 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.

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