Laurus Global Equity Management Inc. Sells 16,900 Shares of Global Industrial Company $GIC

Key Points

• Laurus Global Equity Management Inc. reduced its stake in Global Industrial Company (NYSE:GIC) by 21.2%, selling 16,900 shares and now holding a total of 62,860 shares.
• Global Industrial recently reported an earnings per share of $0.65 for the last quarter, surpassing analysts' expectations of $0.50, with revenues also exceeding projections at $358.9 million.
• The company declared a quarterly dividend of $0.26, resulting in an annualized dividend yield of 2.9%, with a dividend payout ratio of 60.82%.

Laurus Global Equity Management Inc. reduced its position in Global Industrial Company (NYSE:GIC - Free Report) by 21.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,860 shares of the company's stock after selling 16,900 shares during the quarter. Global Industrial comprises about 1.1% of Laurus Global Equity Management Inc.'s holdings, making the stock its 19th biggest holding. Laurus Global Equity Management Inc. owned 0.16% of Global Industrial worth $1,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Quantbot Technologies LP grew its position in shares of Global Industrial by 25.8% during the 1st quarter. Quantbot Technologies LP now owns 4,548 shares of the company's stock valued at $102,000 after purchasing an additional 934 shares in the last quarter. CWM LLC boosted its stake in Global Industrial by 187.7% during the first quarter. CWM LLC now owns 1,614 shares of the company's stock valued at $36,000 after buying an additional 1,053 shares during the period. Hsbc Holdings PLC grew its position in Global Industrial by 3.6% during the first quarter. Hsbc Holdings PLC now owns 33,871 shares of the company's stock worth $764,000 after buying an additional 1,191 shares in the last quarter. GAMMA Investing LLC increased its stake in 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 acquiring an additional 2,256 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Global Industrial by 16.4% in the 1st 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. Institutional investors own 31.19% of the company's stock.

Global Industrial Stock Down 0.4%

NYSE:GIC opened at $35.84 on Monday. The company has a fifty day moving average of $35.87 and a 200 day moving average of $29.05. Global Industrial Company has a 52 week low of $20.79 and a 52 week high of $38.79. The firm has a market capitalization of $1.38 billion, a P/E ratio of 20.96, a P/E/G ratio of 1.14 and a beta of 0.87.

Global Industrial (NYSE:GIC - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $351.81 million. Global Industrial had a net margin of 5.00% and a return on equity of 22.89%. As a group, analysts anticipate that Global Industrial Company will post 1.59 EPS for the current year.

Global Industrial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 2.9%. Global Industrial's dividend payout ratio (DPR) is 60.82%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GIC. Zacks Research cut shares of Global Industrial from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Wall Street Zen upgraded shares of Global Industrial from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Global Industrial in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Global Industrial has an average rating of "Hold".

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.

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