24,657 Shares in Global Industrial Company (NYSE:GIC) Bought by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. has purchased a new stake in Global Industrial Company for approximately $552,000, acquiring 24,657 shares and representing 0.06% ownership of the company.
• Several hedge funds, including J. Goldman & Co LP, have significantly increased their investments in Global Industrial, indicating strong institutional interest in the company.
• Global Industrial recently announced a quarterly dividend of $0.26 per share, which corresponds to an annualized yield of 3.0% and reflects a payout ratio of approximately 60.82%.

Federated Hermes Inc. acquired a new position in shares of Global Industrial Company (NYSE:GIC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 24,657 shares of the company's stock, valued at approximately $552,000. Federated Hermes Inc. owned approximately 0.06% of Global Industrial as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. J. Goldman & Co LP raised its position in shares of Global Industrial by 559.7% during the fourth quarter. J. Goldman & Co LP now owns 494,650 shares of the company's stock valued at $12,262,000 after buying an additional 419,672 shares during the last quarter. Geode Capital Management LLC raised its position in Global Industrial by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 319,056 shares of the company's stock worth $7,912,000 after purchasing an additional 2,973 shares in the last quarter. GW&K Investment Management LLC grew its stake in Global Industrial by 2.3% during the first quarter. GW&K Investment Management LLC now owns 311,688 shares of the company's stock worth $6,982,000 after buying an additional 7,007 shares during the last quarter. Denali Advisors LLC boosted its stake in Global Industrial by 54.5% in the first quarter. Denali Advisors LLC now owns 165,779 shares of the company's stock valued at $3,713,000 after acquiring an additional 58,479 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Global Industrial in the fourth quarter valued at approximately $4,001,000. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

Global Industrial Stock Performance

Shares of GIC stock traded up $0.65 during midday trading on Wednesday, hitting $36.04. 39,354 shares of the company were exchanged, compared to its average volume of 107,098. Global Industrial Company has a 52 week low of $20.79 and a 52 week high of $36.00. The firm's 50 day moving average price is $28.72 and its two-hundred day moving average price is $25.61. The firm has a market capitalization of $1.38 billion, a P/E ratio of 21.08, a PEG ratio of 1.09 and a beta of 0.80.

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

Global Industrial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 11th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, August 11th. Global Industrial's dividend payout ratio is 60.82%.

Analyst Ratings Changes

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

Global Industrial Company 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.