Global Industrial Company (NYSE:GIC – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $40.71 and last traded at $40.38, with a volume of 3508 shares traded. The stock had previously closed at $39.80.
Analyst Ratings Changes
A number of equities research analysts have issued reports 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, August 8th. Weiss Ratings raised shares of Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Global Industrial presently has an average rating of “Hold”.
Read Our Latest Stock Report on Global Industrial
Global Industrial Price Performance
Global Industrial (NYSE:GIC – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $386.60 million for the quarter, compared to analyst estimates of $377.40 million. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. As a group, equities research analysts anticipate that Global Industrial Company will post 1.87 earnings per share for the current fiscal year.
Global Industrial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, August 17th. Global Industrial’s dividend payout ratio (DPR) is 50.00%.
Insider Buying and Selling at Global Industrial
In other Global Industrial news, VP Thomas Axmacher sold 1,848 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $38.60, for a total value of $71,332.80. Following the completion of the sale, the vice president owned 7,366 shares of the company’s stock, valued at $284,327.60. The trade was a 20.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 64.51% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in GIC. BlackRock Inc. acquired a new position in Global Industrial in the 2nd quarter valued at $53,365,000. Bank of New York Mellon Corp acquired a new position in Global Industrial during the 2nd quarter worth $10,510,000. Algert Global LLC bought a new stake in Global Industrial during the third quarter valued at about $5,329,000. Edgestream Partners L.P. acquired a new stake in shares of Global Industrial in the first quarter valued at about $2,920,000. Finally, Barclays PLC grew its position in shares of Global Industrial by 164.7% in the third quarter. Barclays PLC now owns 101,921 shares of the company’s stock valued at $3,737,000 after purchasing an additional 63,414 shares during the last quarter. 31.19% of the stock is owned by institutional investors.
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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