Panagora Asset Management Inc. Raises Stock Holdings in Global Industrial Company $GIC

Key Points

• Panagora Asset Management Inc. increased its holdings in Global Industrial Company by 21.1%, acquiring an additional 14,070 shares during the first quarter.
• Global Industrial reported $0.65 earnings per share for the recent quarter, surpassing analyst estimates of $0.50, and had a net margin of 5.00%.
• The company announced a quarterly dividend of $0.26 per share, representing a 2.8% yield, and has raised its rating from "buy" to "strong-buy" according to analysts.

Panagora Asset Management Inc. raised its position in shares of Global Industrial Company (NYSE:GIC - Free Report) by 21.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,841 shares of the company's stock after purchasing an additional 14,070 shares during the period. Panagora Asset Management Inc. owned about 0.21% of Global Industrial worth $1,811,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC raised its position in shares of Global Industrial by 187.7% in the 1st quarter. CWM LLC now owns 1,614 shares of the company's stock worth $36,000 after acquiring an additional 1,053 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of 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 in the last quarter. GAMMA Investing LLC raised its position 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 acquiring an additional 2,256 shares in the last quarter. US Bancorp DE grew its position in shares of Global Industrial by 954.3% in the 1st quarter. US Bancorp DE now owns 3,068 shares of the company's stock worth $69,000 after buying an additional 2,777 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in shares of Global Industrial by 25.8% in the 1st quarter. Quantbot Technologies LP now owns 4,548 shares of the company's stock worth $102,000 after buying an additional 934 shares during the last quarter. 31.19% of the stock is owned by institutional investors.

Global Industrial Stock Performance

NYSE:GIC traded down $0.31 during mid-day trading on Friday, hitting $37.91. 163,834 shares of the company's stock traded hands, compared to its average volume of 121,210. The company has a fifty day moving average of $32.22 and a 200 day moving average of $27.14. Global Industrial Company has a twelve month low of $20.79 and a twelve month high of $38.53. The company has a market capitalization of $1.45 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.21 and a beta of 0.84.

Global Industrial (NYSE:GIC - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts expect that Global Industrial Company will post 1.59 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 11th. Global Industrial's dividend payout ratio is currently 60.82%.

Wall Street Analyst Weigh In

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

About Global Industrial

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.