Tudor Investment Corp ET AL Purchases New Position in Global Industrial Company $GIC

Key Points

• Tudor Investment Corp opened a new position in Global Industrial, buying 62,280 shares worth about $2.28 million and owning roughly 0.16% of the company per its latest 13F filing.
• Global Industrial beat expectations last quarter with $0.38 EPS (vs. $0.35 est.) and $345.6M in revenue (vs. $324.86M est.), and the company has a market cap of ~$1.28 billion and a P/E of 17.96.
• The company raised its quarterly dividend to $0.28 (annualized $1.12) for a ~3.4% yield, while institutional ownership sits at about 31.19% with firms like Goldman Sachs and AQR recently boosting positions.

Tudor Investment Corp ET AL acquired a new position in Global Industrial Company (NYSE:GIC - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 62,280 shares of the company's stock, valued at approximately $2,284,000. Tudor Investment Corp ET AL owned 0.16% of Global Industrial as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Global Industrial by 37.4% in the first quarter. AQR Capital Management LLC now owns 61,993 shares of the company's stock worth $1,389,000 after acquiring an additional 16,880 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Global Industrial by 66.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 143,162 shares of the company's stock worth $3,207,000 after buying an additional 57,056 shares during the last quarter. Jane Street Group LLC increased 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 worth $399,000 after buying an additional 2,512 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Global Industrial during the 2nd quarter worth about $231,000. Finally, American Century Companies Inc. boosted its stake in shares of Global Industrial by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 38,952 shares of the company's stock worth $1,052,000 after purchasing an additional 2,804 shares during the period. Institutional investors own 31.19% of the company's stock.

Global Industrial Price Performance

Shares of GIC stock opened at $33.40 on Friday. The company has a 50-day moving average of $31.89 and a two-hundred day moving average of $31.19. Global Industrial Company has a 1-year low of $20.98 and a 1-year high of $38.79. The firm has a market cap of $1.28 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 1.04 and a beta of 0.86.

Global Industrial (NYSE:GIC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. Global Industrial had a net margin of 5.23% and a return on equity of 23.56%. The business had revenue of $345.60 million during the quarter, compared to analyst estimates of $324.86 million. Sell-side analysts anticipate that Global Industrial Company will post 1.59 EPS for the current fiscal year.

Global Industrial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were paid a dividend of $0.28 per share. This is a boost from Global Industrial's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, March 9th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.4%. Global Industrial's dividend payout ratio is currently 60.22%.

Analyst Ratings Changes

Several equities research analysts have issued reports on GIC shares. Zacks Research raised shares of Global Industrial from a "strong sell" rating to a "hold" rating in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Global Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, January 31st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Global Industrial in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

Global Industrial Company 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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