Walleye Capital LLC Invests $258,000 in Global Industrial Company $GIC

Key Points

• Walleye Capital LLC acquired 11,498 shares of Global Industrial Company (NYSE:GIC), valued at approximately $258,000, as reported in its recent SEC filing.
• Global Industrial reported $0.65 earnings per share for the last quarter, exceeding analysts' estimates by $0.15, along with a revenue of $358.90 million.
• The company recently paid a quarterly dividend of $0.26 per share, with an annualized yield of 2.7%, and has a payout ratio of 60.82%.

Walleye Capital LLC acquired a new stake in shares of Global Industrial Company (NYSE:GIC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,498 shares of the company's stock, valued at approximately $258,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quantbot Technologies LP raised its position in Global Industrial by 25.8% during the first quarter. Quantbot Technologies LP now owns 4,548 shares of the company's stock valued at $102,000 after acquiring an additional 934 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Global Industrial by 13.6% during the fourth quarter. MetLife Investment Management LLC now owns 8,215 shares of the company's stock valued at $204,000 after purchasing an additional 982 shares during the last quarter. CWM LLC grew its holdings in Global Industrial by 187.7% during the first quarter. CWM LLC now owns 1,614 shares of the company's stock valued at $36,000 after purchasing an additional 1,053 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Global Industrial by 3.6% during the first quarter. Hsbc Holdings PLC now owns 33,871 shares of the company's stock valued at $764,000 after purchasing an additional 1,191 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew 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 valued at $39,000 after purchasing an additional 1,206 shares during the last quarter. Institutional investors own 31.19% of the company's stock.

Wall Street Analyst Weigh In

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

Global Industrial Stock Up 0.2%

GIC stock traded up $0.07 during midday trading on Wednesday, hitting $37.59. 89,611 shares of the company traded hands, compared to its average volume of 127,459. The business has a 50 day simple moving average of $32.83 and a 200-day simple moving average of $27.40. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84. Global Industrial Company has a twelve month low of $20.79 and a twelve month high of $38.79.

Global Industrial (NYSE:GIC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.15. The business had revenue of $358.90 million for the quarter, compared to the consensus estimate of $351.81 million. Global Industrial had a net margin of 5.00% and a return on equity of 22.89%. Equities research analysts forecast 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 paid a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 2.8%. Global Industrial's dividend payout ratio (DPR) is presently 60.82%.

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.