Grandeur Peak Global Advisors LLC Acquires Shares of 42,089 Global Industrial Company $GIC

Key Points

• Grandeur Peak Global Advisors acquired 42,089 shares of Global Industrial, valued at approximately $1.4 million, giving it a 0.11% stake. Institutional investors collectively own 31.19% of the company.
• Global Industrial reported quarterly earnings of $0.54 per share, matching estimates, while revenue of $386.6 million exceeded expectations of $377.4 million. Analysts collectively rate the stock “Moderate Buy.”
• Shares opened at $39.60, near the 12-month high of $40.71. The company maintains a quarterly dividend of $0.28, equivalent to $1.12 annually and a 2.8% yield.

Grandeur Peak Global Advisors LLC acquired a new stake in shares of Global Industrial Company (NYSE:GIC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 42,089 shares of the company's stock, valued at approximately $1,408,000. Grandeur Peak Global Advisors LLC owned about 0.11% of Global Industrial at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. New York State Teachers Retirement System purchased a new position in Global Industrial during the fourth quarter valued at $38,000. Bard Associates Inc. purchased a new stake in Global Industrial in the 2nd quarter worth $67,000. Advisors Asset Management Inc. lifted its stake in Global Industrial by 234.9% in the 4th quarter. Advisors Asset Management Inc. now owns 2,502 shares of the company's stock worth $73,000 after purchasing an additional 1,755 shares in the last quarter. State of Wyoming bought a new position in shares of Global Industrial during the 2nd quarter valued at about $117,000. Finally, Martingale Asset Management L P purchased a new position in shares of Global Industrial during the fourth quarter valued at about $214,000. Hedge funds and other institutional investors own 31.19% of the company's stock.

Insider Buying and Selling at Global Industrial

In other news, VP Thomas Axmacher sold 1,848 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $38.60, for a total transaction of $71,332.80. Following the transaction, the vice president owned 7,366 shares of the company's stock, valued at approximately $284,327.60. The trade was a 20.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 64.51% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GIC. Wall Street Zen raised Global Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Weiss Ratings raised Global Industrial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy".

Global Industrial Trading Up 0.3%

Shares of NYSE:GIC opened at $39.60 on Friday. Global Industrial Company has a 12 month low of $26.40 and a 12 month high of $40.71. The company has a 50-day moving average price of $35.91 and a 200 day moving average price of $33.07. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 1.32 and a beta of 0.75.

Global Industrial (NYSE:GIC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. Global Industrial had a return on equity of 21.49% and a net margin of 6.06%.The company had revenue of $386.60 million for the quarter, compared to analysts' expectations of $377.40 million. As a group, equities analysts forecast that Global Industrial Company will post 1.87 EPS for the current year.

Global Industrial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were issued a $0.28 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.8%. Global Industrial's payout ratio is 50.00%.

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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