Laurus Global Equity Management Inc. Cuts Position in Global Industrial Company $GIC

Laurus Global Equity Management Inc. lessened its holdings in shares of Global Industrial Company (NYSE:GIC) by 29.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,490 shares of the company’s stock after selling 18,370 shares during the quarter. Global Industrial accounts for about 1.1% of Laurus Global Equity Management Inc.’s investment portfolio, making the stock its 17th largest holding. Laurus Global Equity Management Inc. owned approximately 0.12% of Global Industrial worth $1,300,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in Global Industrial in the 3rd quarter worth approximately $79,000. State of Wyoming purchased a new stake in shares of Global Industrial during the second quarter valued at approximately $117,000. Arizona State Retirement System acquired a new position in shares of Global Industrial during the third quarter worth $208,000. Russell Investments Group Ltd. boosted its stake in shares of Global Industrial by 16.3% in the second quarter. Russell Investments Group Ltd. now owns 7,972 shares of the company’s stock valued at $215,000 after purchasing an additional 1,120 shares during the period. Finally, Quantbot Technologies LP grew its holdings in Global Industrial by 242.0% during the 3rd quarter. Quantbot Technologies LP now owns 5,958 shares of the company’s stock valued at $218,000 after purchasing an additional 4,216 shares in the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

Global Industrial Trading Up 2.8%

Global Industrial stock traded up $0.94 during mid-day trading on Thursday, reaching $33.98. The company’s stock had a trading volume of 4,196 shares, compared to its average volume of 93,925. Global Industrial Company has a twelve month low of $21.60 and a twelve month high of $38.79. The business has a 50 day moving average price of $32.02 and a 200-day moving average price of $31.01. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.05 and a beta of 0.86.

Global Industrial (NYSE:GIC) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Global Industrial had a net margin of 5.23% and a return on equity of 23.56%. The company had revenue of $345.60 million for the quarter, compared to the consensus estimate of $324.86 million. On average, equities analysts expect that Global Industrial Company will post 2 EPS for the current fiscal year.

Global Industrial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were paid a $0.28 dividend. The ex-dividend date was Monday, March 9th. This is an increase from Global Industrial’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 3.3%. Global Industrial’s payout ratio is presently 60.22%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GIC. 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 raised Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Global Industrial in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

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.