Janus Henderson Group PLC lessened its holdings in Global Industrial Company (NYSE:GIC – Free Report) by 73.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,585 shares of the company’s stock after selling 18,684 shares during the quarter. Janus Henderson Group PLC’s holdings in Global Industrial were worth $207,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP increased its position in Global Industrial by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 893,325 shares of the company’s stock worth $28,155,000 after acquiring an additional 8,901 shares during the period. Vanguard Group Inc. boosted its holdings in Global Industrial by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 822,006 shares of the company’s stock valued at $30,143,000 after purchasing an additional 17,194 shares during the period. Bank of New York Mellon Corp grew its position in shares of Global Industrial by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 312,749 shares of the company’s stock worth $9,858,000 after purchasing an additional 5,842 shares in the last quarter. J. Goldman & Co LP grew its position in shares of Global Industrial by 9.4% during the 4th quarter. J. Goldman & Co LP now owns 307,757 shares of the company’s stock worth $8,993,000 after purchasing an additional 26,365 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Global Industrial by 7.6% during the 4th quarter. Millennium Management LLC now owns 244,233 shares of the company’s stock worth $7,136,000 after purchasing an additional 17,194 shares in the last quarter. 31.19% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings raised Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Global Industrial presently has a consensus rating of “Hold”.
Insider Buying and Selling at Global Industrial
In related news, VP Thomas Axmacher sold 1,848 shares of Global Industrial stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $38.60, for a total value of $71,332.80. Following the transaction, the vice president directly owned 7,366 shares of the company’s stock, valued at $284,327.60. This trade represents 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. Company insiders own 64.51% of the company’s stock.
Global Industrial Stock Down 0.9%
GIC stock opened at $39.43 on Wednesday. The company has a market cap of $1.50 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.33 and a beta of 0.75. The business has a 50-day simple moving average of $34.07 and a 200 day simple moving average of $32.40. Global Industrial Company has a 52 week low of $26.40 and a 52 week high of $40.71.
Global Industrial (NYSE:GIC – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $377.40 million. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. On average, analysts anticipate that Global Industrial Company will post 1.87 EPS for the current fiscal year.
Global Industrial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, August 17th. Global Industrial’s dividend payout ratio is 50.00%.
About Global Industrial
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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