GSA Capital Partners LLP Invests $899,000 in Global Industrial Company $GIC

Key Points

• GSA Capital Partners LLP initiated a position in Global Industrial by purchasing 26,857 shares valued at approximately $899,000, representing about 0.07% of the company. Hedge funds and institutional investors collectively own 31.19% of GIC.
• Global Industrial reported quarterly EPS of $0.54, in line with estimates, while revenue of $386.6 million exceeded expectations of $377.4 million. Analysts project full-year EPS of $1.87.
• The company declared a quarterly dividend of $0.28, equal to $1.12 annually and a 2.9% yield. GIC shares opened at $38.95, near their 52-week high of $40.71, while the overall analyst consensus remained “Hold.”

GSA Capital Partners LLP bought a new stake in Global Industrial Company (NYSE:GIC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 26,857 shares of the company's stock, valued at approximately $899,000. GSA Capital Partners LLP owned approximately 0.07% of Global Industrial as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. New York State Teachers Retirement System purchased a new stake in shares of Global Industrial during the 4th quarter valued at $38,000. Advisors Asset Management Inc. raised its stake in shares of Global Industrial by 234.9% during 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 during the period. State of Wyoming purchased a new position in shares of Global Industrial in the 2nd quarter worth about $117,000. State of Alaska Department of Revenue boosted its holdings in shares of Global Industrial by 111.4% in the 4th quarter. State of Alaska Department of Revenue now owns 4,562 shares of the company's stock worth $133,000 after buying an additional 2,404 shares during the last quarter. Finally, Martingale Asset Management L P bought a new position in Global Industrial during the fourth quarter valued at about $214,000. 31.19% of the stock is owned by hedge funds and other institutional investors.

Global Industrial Stock Performance

GIC stock opened at $38.95 on Wednesday. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.30 and a beta of 0.75. Global Industrial Company has a fifty-two week low of $26.40 and a fifty-two week high of $40.71. The stock has a fifty day moving average of $34.88 and a 200-day moving average of $32.70.

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

Global Industrial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be paid a $0.28 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.12 annualized dividend and a dividend yield of 2.9%. Global Industrial's dividend payout ratio (DPR) is presently 50.00%.

Insider Activity

In other news, VP Thomas Axmacher sold 952 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $39.10, for a total value of $37,223.20. Following the sale, the vice president owned 6,414 shares of the company's stock, valued at $250,787.40. The trade was a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 64.51% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on GIC. Wall Street Zen raised shares of Global Industrial from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Global Industrial from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 16th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold".

Global Industrial Profile

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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