J. Goldman & Co LP Invests $2.06 Million in Global Industrial Company $GIC

J. Goldman & Co LP bought a new stake in Global Industrial Company (NYSE:GIC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 61,485 shares of the company’s stock, valued at approximately $2,057,000.

Other institutional investors and hedge funds have also modified their holdings of the company. New York State Teachers Retirement System bought a new position in Global Industrial during the fourth quarter worth about $38,000. Bard Associates Inc. bought a new stake in Global Industrial in the 2nd quarter valued at about $67,000. Advisors Asset Management Inc. grew its position in shares of Global Industrial by 234.9% during the 4th quarter. Advisors Asset Management Inc. now owns 2,502 shares of the company’s stock worth $73,000 after purchasing an additional 1,755 shares in the last quarter. State of Wyoming acquired a new position in shares of Global Industrial during the 2nd quarter worth approximately $117,000. Finally, Martingale Asset Management L P bought a new position in shares of Global Industrial during the fourth quarter worth approximately $214,000. 31.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GIC. Weiss Ratings upgraded Global Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. Wall Street Zen upgraded Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Global Industrial currently has a consensus rating of “Moderate Buy”.

Global Industrial Price Performance

Shares of GIC opened at $39.58 on Wednesday. The firm has a 50 day simple moving average of $35.62 and a two-hundred day simple moving average of $32.97. Global Industrial Company has a one year low of $26.40 and a one year high of $40.71. The company has a market cap 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 issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. Global Industrial had a return on equity of 21.49% and a net margin of 6.06%.The company had revenue of $386.60 million for the quarter, compared to analyst estimates of $377.40 million. On average, analysts expect that Global Industrial Company will post 1.87 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

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

Insider Transactions 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 transaction of $71,332.80. Following the completion of the transaction, the vice president owned 7,366 shares of the company’s stock, valued at approximately $284,327.60. The trade was a 20.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 64.51% of the stock is currently owned by corporate insiders.

About Global Industrial

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.