Kingstone Capital Partners Texas LLC Acquires New Stake in Global Industrial Company $GIC

Key Points

• Kingstone Capital Partners Texas LLC acquired a new stake in Global Industrial Company for approximately $411,000 by purchasing 15,213 shares during the 2nd quarter.
• Wall Street analysts upgraded Global Industrial from a "buy" rating to a "strong-buy" rating, indicating positive expectations for the company’s future performance.
• The company recently announced a quarterly dividend of $0.26 per share, representing an annualized dividend of $1.04 and a yield of 2.9%.

Kingstone Capital Partners Texas LLC acquired a new position in shares of Global Industrial Company (NYSE:GIC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 15,213 shares of the company's stock, valued at approximately $411,000.

Other institutional investors also recently made changes to their positions in the company. Jane Street Group LLC lifted its stake in shares of Global Industrial by 114.0% in the 4th quarter. Jane Street Group LLC now owns 15,294 shares of the company's stock valued at $379,000 after purchasing an additional 8,146 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Global Industrial by 3.6% during the 4th quarter. Bank of America Corp DE now owns 41,710 shares of the company's stock worth $1,034,000 after acquiring an additional 1,443 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Global Industrial by 4.8% during the 4th quarter. Nuveen Asset Management LLC now owns 57,688 shares of the company's stock worth $1,430,000 after acquiring an additional 2,645 shares during the period. Two Sigma Investments LP grew its stake in shares of Global Industrial by 24.7% during the fourth quarter. Two Sigma Investments LP now owns 68,842 shares of the company's stock worth $1,707,000 after buying an additional 13,630 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Global Industrial by 50.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,446 shares of the company's stock worth $1,102,000 after purchasing an additional 14,999 shares during the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

Global Industrial Stock Up 1.9%

Shares of GIC traded up $0.67 during mid-day trading on Monday, reaching $36.72. The company had a trading volume of 132,343 shares, compared to its average volume of 122,898. The stock has a market capitalization of $1.41 billion, a P/E ratio of 21.47, a PEG ratio of 1.15 and a beta of 0.84. Global Industrial Company has a 52-week low of $20.79 and a 52-week high of $38.79. The stock has a 50 day moving average of $34.24 and a two-hundred day moving average of $28.19.

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, beating 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 company had revenue of $358.90 million for the quarter, compared to analyst estimates of $351.81 million. On average, sell-side analysts expect that Global Industrial Company will post 1.59 earnings per share for the current year.

Global Industrial Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised 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.