Jacobs Levy Equity Management Inc. Buys New Position in Global Industrial Company $GIC

Key Points

• Jacobs Levy Equity Management Inc. has acquired a new position in Global Industrial Company, purchasing 152,986 shares valued at approximately $3.4 million.
• Global Industrial recently reported earnings of $0.65 per share for the last quarter, exceeding analysts' estimates, along with a quarterly dividend of $0.26 per share.
• Wall Street analysts upgraded Global Industrial from a "buy" to a "strong-buy" rating, indicating positive sentiment surrounding the company's future growth prospects.

Jacobs Levy Equity Management Inc. purchased a new stake in shares of Global Industrial Company (NYSE:GIC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 152,986 shares of the company's stock, valued at approximately $3,427,000. Jacobs Levy Equity Management Inc. owned approximately 0.40% of Global Industrial at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nuveen Asset Management LLC grew its holdings in Global Industrial by 4.8% during the 4th quarter. Nuveen Asset Management LLC now owns 57,688 shares of the company's stock valued at $1,430,000 after buying an additional 2,645 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Global Industrial by 1,600.0% in the 1st quarter. GAMMA Investing LLC now owns 2,397 shares of the company's stock worth $54,000 after purchasing an additional 2,256 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Global Industrial by 135.5% in the 1st quarter. SG Americas Securities LLC now owns 18,780 shares of the company's stock worth $421,000 after purchasing an additional 10,806 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Global Industrial in the 1st quarter worth approximately $768,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Global Industrial by 3,930.6% in the 1st quarter. Russell Investments Group Ltd. now owns 6,852 shares of the company's stock worth $153,000 after purchasing an additional 6,682 shares during the period. Hedge funds and other institutional investors own 31.19% of the company's stock.

Global Industrial Stock Performance

NYSE GIC traded up $0.25 on Monday, reaching $37.24. 22,077 shares of the stock traded hands, compared to its average volume of 109,913. Global Industrial Company has a 12 month low of $20.79 and a 12 month high of $38.79. The company has a fifty day moving average price of $33.20 and a 200-day moving average price of $27.64. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.18 and a beta of 0.84.

Global Industrial (NYSE:GIC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.15. Global Industrial had a return on equity of 22.89% and a net margin of 5.00%.The business had revenue of $358.90 million for the quarter, compared to the consensus estimate of $351.81 million. As a group, research analysts anticipate that Global Industrial Company will post 1.59 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

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

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Global Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd.

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.