Inspire Investing LLC Invests $872,000 in Global Industrial Company $GIC

Inspire Investing LLC purchased a new position in shares of Global Industrial Company (NYSE:GIC) in the 2nd quarter, Holdings Channel reports. The fund purchased 32,301 shares of the company’s stock, valued at approximately $872,000.

Other institutional investors have also modified their holdings of the company. Jacobs Levy Equity Management Inc. bought a new position in shares of Global Industrial during the first quarter worth about $3,427,000. GAMMA Investing LLC grew its position in shares of Global Industrial by 1,600.0% during the first quarter. GAMMA Investing LLC now owns 2,397 shares of the company’s stock worth $54,000 after acquiring an additional 2,256 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Global Industrial in the 1st quarter valued at about $768,000. SG Americas Securities LLC grew its position in Global Industrial by 135.5% in the 1st quarter. SG Americas Securities LLC now owns 18,780 shares of the company’s stock valued at $421,000 after buying an additional 10,806 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Global Industrial by 66.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 143,162 shares of the company’s stock valued at $3,207,000 after buying an additional 57,056 shares in the last quarter. Institutional investors own 31.19% of the company’s stock.

Global Industrial Trading Down 1.5%

NYSE:GIC opened at $34.13 on Monday. Global Industrial Company has a twelve month low of $20.79 and a twelve month high of $38.79. The company has a 50-day moving average of $36.22 and a 200-day moving average of $29.46. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.09 and a beta of 0.87.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.15. Global Industrial had a net margin of 5.00% and a return on equity of 22.89%. The company had revenue of $358.90 million during the quarter, compared to analyst estimates of $351.81 million. On average, research analysts forecast that Global Industrial Company will post 1.59 earnings per share for the current year.

Global Industrial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 3.0%. Global Industrial’s dividend payout ratio (DPR) is 60.82%.

Analysts Set New Price Targets

GIC has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Global Industrial in a research report on Wednesday, October 8th. Finally, Zacks Research lowered shares of Global Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Global Industrial currently has an average rating of “Hold”.

Global Industrial Company Profile

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.