Nuveen LLC Acquires New Stake in Global Industrial Company $GIC

Key Points

• Nuveen LLC has acquired 80,460 shares of Global Industrial Company (NYSE:GIC), valued at approximately $1.8 million, representing about 0.21% of the company.
• Global Industrial recently reported earnings of $0.65 per share, exceeding analyst expectations of $0.50, and posted revenue of $358.90 million for the quarter.
• The company declared a quarterly dividend of $0.26 per share, yielding 2.8%, with a dividend payout ratio of 60.82% for the year.

Nuveen LLC purchased a new position in Global Industrial Company (NYSE:GIC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 80,460 shares of the company's stock, valued at approximately $1,802,000. Nuveen LLC owned 0.21% of Global Industrial at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GIC. CWM LLC grew its holdings in shares of Global Industrial by 187.7% in the first quarter. CWM LLC now owns 1,614 shares of the company's stock worth $36,000 after purchasing an additional 1,053 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Global Industrial by 340.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company's stock worth $39,000 after acquiring an additional 1,206 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Global Industrial by 1,600.0% in the first quarter. GAMMA Investing LLC now owns 2,397 shares of the company's stock valued at $54,000 after acquiring an additional 2,256 shares during the period. US Bancorp DE increased its position in shares of Global Industrial by 954.3% in the first quarter. US Bancorp DE now owns 3,068 shares of the company's stock valued at $69,000 after acquiring an additional 2,777 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Global Industrial by 44.4% during the fourth quarter. Wells Fargo & Company MN now owns 7,058 shares of the company's stock valued at $175,000 after acquiring an additional 2,170 shares during the last quarter. Institutional investors own 31.19% of the company's stock.

Wall Street Analysts Forecast Growth

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

Global Industrial Stock Performance

Shares of NYSE GIC traded down $0.33 during mid-day trading on Wednesday, hitting $37.08. 32,668 shares of the stock traded hands, compared to its average volume of 109,049. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 1.19 and a beta of 0.84. The stock has a fifty day moving average price of $31.60 and a 200-day moving average price of $26.86. Global Industrial Company has a 52 week low of $20.79 and a 52 week high of $37.90.

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

Global Industrial Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 2.8%. Global Industrial's payout ratio is presently 60.82%.

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.