Global Industrial Company $GIC Shares Purchased by Grandeur Peak Global Advisors LLC

Grandeur Peak Global Advisors LLC raised its position in Global Industrial Company (NYSE:GIC) by 88.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,089 shares of the company’s stock after acquiring an additional 19,703 shares during the quarter. Grandeur Peak Global Advisors LLC owned approximately 0.11% of Global Industrial worth $1,408,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its holdings in shares of Global Industrial by 6.2% in the 2nd quarter. Hsbc Holdings PLC now owns 81,296 shares of the company’s stock valued at $2,757,000 after purchasing an additional 4,775 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Global Industrial during the second quarter worth $211,000. Corient Private Wealth LP purchased a new position in Global Industrial in the second quarter valued at $259,000. Bank of America Corp DE purchased a new position in Global Industrial in the second quarter valued at $3,367,000. Finally, Odyssean LLC acquired a new stake in Global Industrial in the second quarter valued at $217,000. Institutional investors and hedge funds own 31.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GIC shares. Weiss Ratings raised Global Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Wall Street Zen upgraded Global Industrial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Insider Transactions at Global Industrial

In other Global Industrial news, VP Thomas Axmacher sold 1,848 shares of Global Industrial stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $38.60, for a total transaction of $71,332.80. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 64.51% of the stock is owned by corporate insiders.

Global Industrial Price Performance

Shares of NYSE:GIC opened at $39.59 on Monday. The company’s fifty day moving average price is $36.04 and its 200 day moving average price is $33.12. Global Industrial Company has a 12 month low of $26.40 and a 12 month high of $40.71. The firm has a market capitalization of $1.51 billion, a P/E ratio of 17.67, a P/E/G ratio of 1.32 and a beta of 0.75.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The firm 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, sell-side analysts anticipate that Global Industrial Company will post 1.87 EPS for the current year.

Global Industrial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, August 17th. Global Industrial’s dividend payout ratio (DPR) is currently 50.00%.

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.