Inspire Investing LLC Invests $872,000 in Global Industrial Company $GIC

Key Points

• Inspire Investing LLC invested $872,000 in Global Industrial Company (NYSE:GIC), acquiring 32,301 shares during the second quarter.
• Global Industrial recently announced a quarterly dividend of $0.26 per share, representing a 3.0% dividend yield with a dividend payout ratio of 60.82%.
• Analyst ratings for Global Industrial have shifted, with Wall Street Zen updating the stock from a "buy" to a "strong-buy", while Zacks Research has downgraded it from "strong-buy" to "hold."

Inspire Investing LLC bought a new position in shares of Global Industrial Company (NYSE:GIC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 32,301 shares of the company's stock, valued at approximately $872,000. Inspire Investing LLC owned approximately 0.08% of Global Industrial at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. KLP Kapitalforvaltning AS lifted its position in shares of Global Industrial by 62.3% during the second quarter. KLP Kapitalforvaltning AS now owns 18,500 shares of the company's stock worth $500,000 after purchasing an additional 7,100 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Global Industrial in the second quarter valued at $411,000. Goldman Sachs Group Inc. raised its holdings in Global Industrial by 66.3% in the first quarter. Goldman Sachs Group Inc. now owns 143,162 shares of the company's stock valued at $3,207,000 after acquiring an additional 57,056 shares in the last quarter. Jane Street Group LLC raised its holdings in Global Industrial by 16.4% in the first quarter. Jane Street Group LLC now owns 17,806 shares of the company's stock valued at $399,000 after acquiring an additional 2,512 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Global Industrial in the first quarter valued at $3,427,000. 31.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GIC has been the topic of several recent analyst reports. Wall Street Zen raised shares of Global Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Zacks Research cut shares of Global Industrial from a "strong-buy" rating to a "hold" rating in a report on Monday, September 29th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Global Industrial in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Global Industrial has an average rating of "Hold".

Global Industrial Stock Performance

Shares of NYSE:GIC opened at $34.13 on Monday. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.09 and a beta of 0.87. Global Industrial Company has a 1-year low of $20.79 and a 1-year high of $38.79. The company's fifty day moving average is $36.22 and its two-hundred day moving average is $29.46.

Global Industrial (NYSE:GIC - Get Free Report) last issued its 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 for the quarter, compared to analysts' expectations of $351.81 million. Global Industrial had a net margin of 5.00% and a return on equity of 22.89%. Sell-side analysts expect that Global Industrial Company will post 1.59 EPS for the current fiscal year.

Global Industrial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, August 11th. Global Industrial's dividend payout ratio is 60.82%.

Global Industrial 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.

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