Global Industrial (NYSE:GIC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Global Industrial (NYSE:GIC) from a buy rating to a strong-buy rating in a report issued on Saturday.

GIC has been the subject of several other reports. Zacks Research downgraded shares of Global Industrial from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Industrial in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Global Industrial Trading Down 0.4%

Shares of Global Industrial stock opened at $29.85 on Friday. The firm has a market cap of $1.15 billion, a P/E ratio of 17.06, a P/E/G ratio of 1.02 and a beta of 0.93. The stock’s fifty day moving average price is $30.13 and its 200-day moving average price is $31.36. Global Industrial has a 12 month low of $20.79 and a 12 month high of $38.79.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.10). The business had revenue of $353.60 million during the quarter, compared to analysts’ expectations of $357.00 million. Global Industrial had a return on equity of 22.85% and a net margin of 5.11%. Analysts forecast that Global Industrial will post 1.59 earnings per share for the current year.

Global Industrial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 10th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, November 10th. This represents a $1.04 annualized dividend and a yield of 3.5%. Global Industrial’s dividend payout ratio is 59.43%.

Institutional Investors Weigh In On Global Industrial

Several institutional investors have recently modified their holdings of GIC. State of Alaska Department of Revenue purchased a new position in Global Industrial during the 3rd quarter valued at about $79,000. US Bancorp DE increased its stake in Global Industrial by 954.3% during the first quarter. US Bancorp DE now owns 3,068 shares of the company’s stock worth $69,000 after acquiring an additional 2,777 shares during the last quarter. State of Wyoming purchased a new position in shares of Global Industrial in the 2nd quarter valued at $117,000. Quantbot Technologies LP boosted its position in shares of Global Industrial by 25.8% in the first quarter. Quantbot Technologies LP now owns 4,548 shares of the company’s stock worth $102,000 after buying an additional 934 shares during the period. Finally, CWM LLC grew its position in Global Industrial by 185.2% in the second quarter. CWM LLC now owns 4,603 shares of the company’s stock valued at $124,000 after acquiring an additional 2,989 shares in the last quarter. 31.19% of the stock is owned by hedge funds and other institutional investors.

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.