Global Industrial Company $GIC Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its holdings in Global Industrial Company by 66.3% in the first quarter, owning approximately 0.37% of the company worth $3.2 million.
• Global Industrial reported $0.65 earnings per share (EPS) for the last quarter, exceeding analyst expectations of $0.50, with revenues of $358.90 million.
• The company recently declared a quarterly dividend of $0.26 per share, representing an annualized yield of 2.8%.

Goldman Sachs Group Inc. grew its stake in shares of Global Industrial Company (NYSE:GIC - Free Report) by 66.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 143,162 shares of the company's stock after acquiring an additional 57,056 shares during the period. Goldman Sachs Group Inc. owned about 0.37% of Global Industrial worth $3,207,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GIC. Hotchkis & Wiley Capital Management LLC raised its holdings in Global Industrial by 82.0% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 401,534 shares of the company's stock worth $8,994,000 after purchasing an additional 180,870 shares during the last quarter. GW&K Investment Management LLC grew its holdings in Global Industrial by 2.3% in the first quarter. GW&K Investment Management LLC now owns 311,688 shares of the company's stock valued at $6,982,000 after purchasing an additional 7,007 shares during the last quarter. Denali Advisors LLC increased its position in shares of 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 buying an additional 58,479 shares in the last quarter. Northern Trust Corp raised its stake in shares of Global Industrial by 11.2% during the 4th quarter. Northern Trust Corp now owns 153,421 shares of the company's stock worth $3,803,000 after buying an additional 15,471 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Global Industrial in the 1st quarter worth about $3,427,000. Hedge funds and other institutional investors own 31.19% of the company's stock.

Global Industrial Stock Up 1.9%

Shares of NYSE:GIC traded up $0.67 during trading on Monday, reaching $36.72. The stock had a trading volume of 132,343 shares, compared to its average volume of 122,898. The stock has a market cap of $1.41 billion, a P/E ratio of 21.47, a PEG ratio of 1.15 and a beta of 0.84. The business has a fifty day moving average price of $34.24 and a 200-day moving average price of $28.19. Global Industrial Company has a fifty-two week low of $20.79 and a fifty-two week high of $38.79.

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, beating the consensus estimate of $0.50 by $0.15. Global Industrial had a return on equity of 22.89% and a net margin of 5.00%.The company had revenue of $358.90 million during the quarter, compared to the consensus estimate of $351.81 million. As a group, equities analysts forecast that Global Industrial Company will post 1.59 EPS for the current year.

Global Industrial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 2.8%. 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.

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.