Hotchkis & Wiley Capital Management LLC Increases Stock Holdings in Global Industrial Company $GIC

Key Points

• Hotchkis & Wiley Capital Management LLC increased its holdings in Global Industrial by 82.0%, owning approximately 1.05% of the company, worth about $8.99 million after purchasing an additional 180,870 shares.
• Global Industrial's stock has reached a one-year high of $36.79, with a current market capitalization of $1.39 billion and a recent quarterly earnings report showing an EPS of $0.65, surpassing estimates.
• On August 2nd, analysts upgraded Global Industrial from a "buy" rating to a "strong-buy" rating, reflecting a positive outlook on the company's performance.

Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Global Industrial Company (NYSE:GIC - Free Report) by 82.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 401,534 shares of the company's stock after acquiring an additional 180,870 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 1.05% of Global Industrial worth $8,994,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen Asset Management LLC grew its position in Global Industrial by 4.8% during the fourth quarter. Nuveen Asset Management LLC now owns 57,688 shares of the company's stock valued at $1,430,000 after acquiring an additional 2,645 shares during the last quarter. GAMMA Investing LLC grew its position in Global Industrial by 1,600.0% during the first quarter. GAMMA Investing LLC now owns 2,397 shares of the company's stock valued at $54,000 after acquiring an additional 2,256 shares during the last quarter. SG Americas Securities LLC grew its position in Global Industrial by 135.5% during the first quarter. SG Americas Securities LLC now owns 18,780 shares of the company's stock valued at $421,000 after acquiring an additional 10,806 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Global Industrial by 50.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,446 shares of the company's stock valued at $1,102,000 after acquiring an additional 14,999 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Global Industrial during the first quarter valued at approximately $394,000. 31.19% of the stock is currently owned by institutional investors.

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 Down 0.5%

Shares of Global Industrial stock traded down $0.18 on Friday, hitting $37.23. The stock had a trading volume of 57,778 shares, compared to its average volume of 109,002. Global Industrial Company has a one year low of $20.79 and a one year high of $37.90. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.20 and a beta of 0.80. The stock's 50-day simple moving average is $30.98 and its two-hundred day simple moving average is $26.57.

Global Industrial (NYSE:GIC - Get Free Report) last issued its earnings results 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 firm had revenue of $358.90 million for the quarter, compared to analysts' expectations of $351.81 million. As a group, equities analysts predict that Global Industrial Company will post 1.59 EPS for the current fiscal year.

Global Industrial Dividend Announcement

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

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.