PDT Partners LLC Increases Stake in Global Industrial Company $GIC

Key Points

• PDT Partners LLC increased its holdings in Global Industrial Company by 71.5%, acquiring 16,169 additional shares, bringing their total to 38,769 shares valued at $868,000.
• Global Industrial's stock has been upgraded from a "buy" rating to a "strong-buy" rating by Wall Street Zen, reflecting positive expectations for the company's performance.
• The company recently reported a quarterly EPS of $0.65, surpassing analysts' expectations, and declared a quarterly dividend of $0.26 with a yield of 2.8%.

PDT Partners LLC lifted its holdings in Global Industrial Company (NYSE:GIC - Free Report) by 71.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,769 shares of the company's stock after acquiring an additional 16,169 shares during the quarter. PDT Partners LLC owned 0.10% of Global Industrial worth $868,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GIC. CWM LLC increased its stake 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 acquiring an additional 1,053 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Global Industrial by 340.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company's stock worth $39,000 after buying an additional 1,206 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Global Industrial by 1,600.0% during the first quarter. GAMMA Investing LLC now owns 2,397 shares of the company's stock worth $54,000 after buying an additional 2,256 shares in the last quarter. US Bancorp DE boosted its holdings in Global Industrial by 954.3% during the first quarter. US Bancorp DE now owns 3,068 shares of the company's stock worth $69,000 after buying an additional 2,777 shares in the last quarter. Finally, Quantbot Technologies LP boosted its holdings in Global Industrial by 25.8% during the first quarter. Quantbot Technologies LP now owns 4,548 shares of the company's stock worth $102,000 after buying an additional 934 shares in the last quarter. Institutional investors and hedge funds own 31.19% of the company's stock.

Analyst Upgrades and Downgrades

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

Global Industrial Stock Down 3.8%

Shares of GIC traded down $1.45 during trading on Tuesday, reaching $37.01. 32,303 shares of the company traded hands, compared to its average volume of 110,048. Global Industrial Company has a twelve month low of $20.79 and a twelve month high of $38.79. The stock has a market cap of $1.42 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 1.21 and a beta of 0.84. The stock has a 50-day simple moving average of $32.45 and a 200-day simple moving average of $27.26.

Global Industrial (NYSE:GIC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.15. Global Industrial had a net margin of 5.00% and a return on equity of 22.89%. The business had revenue of $358.90 million during the quarter, compared to analysts' expectations of $351.81 million. On average, equities research analysts predict that Global Industrial Company will post 1.59 EPS for the current year.

Global Industrial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. 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 payout ratio is currently 60.82%.

Global Industrial 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.