Hsbc Holdings PLC Purchases 18,123 Shares of Global Industrial Company $GIC

Hsbc Holdings PLC raised its holdings in shares of Global Industrial Company (NYSE:GIC) by 40.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,114 shares of the company’s stock after acquiring an additional 18,123 shares during the quarter. Hsbc Holdings PLC’s holdings in Global Industrial were worth $1,860,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GIC. New York State Teachers Retirement System acquired a new position in Global Industrial during the fourth quarter worth $38,000. Advisors Asset Management Inc. increased its stake in Global Industrial by 234.9% in the 4th quarter. Advisors Asset Management Inc. now owns 2,502 shares of the company’s stock valued at $73,000 after buying an additional 1,755 shares during the last quarter. State of Wyoming acquired a new stake in Global Industrial in the 2nd quarter valued at $117,000. State of Alaska Department of Revenue lifted its position in Global Industrial by 111.4% during the 4th quarter. State of Alaska Department of Revenue now owns 4,562 shares of the company’s stock worth $133,000 after buying an additional 2,404 shares in the last quarter. Finally, Martingale Asset Management L P bought a new stake in Global Industrial during the 4th quarter worth about $214,000. Institutional investors own 31.19% of the company’s stock.

Global Industrial Price Performance

GIC stock traded up $0.55 during trading hours on Friday, reaching $33.32. The stock had a trading volume of 93,716 shares, compared to its average volume of 147,072. The stock has a market capitalization of $1.27 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.11 and a beta of 0.76. The stock has a 50-day simple moving average of $31.33 and a 200 day simple moving average of $31.53. Global Industrial Company has a fifty-two week low of $26.40 and a fifty-two week high of $38.79.

Global Industrial (NYSE:GIC) last issued its earnings results on Tuesday, May 5th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). Global Industrial had a net margin of 5.33% and a return on equity of 23.53%. The firm had revenue of $350.40 million during the quarter, compared to analyst estimates of $344.13 million. On average, sell-side analysts forecast that Global Industrial Company will post 1.89 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 18th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, May 18th. Global Industrial’s dividend payout ratio (DPR) is presently 58.03%.

Analyst Ratings Changes

GIC has been the subject of several analyst reports. Wall Street Zen cut Global Industrial from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings downgraded Global Industrial from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

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.