PDT Partners LLC Buys Shares of 33,725 Global Industrial Company $GIC

Key Points

• PDT Partners acquired 33,725 shares of Global Industrial in the second quarter, valued at approximately $1.13 million; institutional investors collectively own 31.19% of the company.
• Global Industrial reported quarterly EPS of $0.54, in line with estimates, while revenue of $386.6 million exceeded expectations of $377.4 million.
• Analyst sentiment improved to a consensus “Moderate Buy,” and the company paid a quarterly dividend of $0.28, representing a 2.8% annualized yield.

PDT Partners LLC purchased a new position in Global Industrial Company (NYSE:GIC - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 33,725 shares of the company's stock, valued at approximately $1,128,000. PDT Partners LLC owned approximately 0.09% of Global Industrial as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GIC. BlackRock Inc. purchased a new stake in shares of Global Industrial during the second quarter valued at approximately $53,365,000. Bank of New York Mellon Corp purchased a new stake in Global Industrial during the second quarter valued at approximately $10,510,000. Algert Global LLC bought a new position in Global Industrial in the 3rd quarter worth $5,329,000. Edgestream Partners L.P. purchased a new position in shares of Global Industrial during the 1st quarter valued at about $2,920,000. Finally, Barclays PLC boosted its position in shares of Global Industrial by 164.7% in the third quarter. Barclays PLC now owns 101,921 shares of the company's stock worth $3,737,000 after purchasing an additional 63,414 shares during the period. 31.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Global Industrial news, VP Thomas Axmacher sold 1,848 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $38.60, for a total transaction of $71,332.80. Following the sale, the vice president directly owned 7,366 shares of the company's stock, valued at $284,327.60. The trade was a 20.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 64.51% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Weiss Ratings upgraded Global Industrial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 18th. Wall Street Zen raised Global Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Global Industrial Stock Performance

NYSE GIC opened at $39.53 on Thursday. The company has a market capitalization of $1.51 billion, a P/E ratio of 17.65, a P/E/G ratio of 1.32 and a beta of 0.75. Global Industrial Company has a one year low of $26.40 and a one year high of $40.71. The stock has a 50 day moving average price of $35.77 and a 200-day moving average price of $33.02.

Global Industrial (NYSE:GIC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. The company had revenue of $386.60 million for the quarter, compared to analysts' expectations of $377.40 million. As a group, equities analysts predict that Global Industrial Company will post 1.87 EPS for the current fiscal year.

Global Industrial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were given a $0.28 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.12 annualized dividend and a yield of 2.8%. Global Industrial's dividend payout ratio (DPR) is currently 50.00%.

Global Industrial Profile

Global Industrial Company NYSE: GIC is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company's product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.

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