Global Industrial (NYSE:GIC) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen cut shares of Global Industrial (NYSE:GIC) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other equities analysts have also weighed in on GIC. Weiss Ratings reiterated a “hold (c)” rating on shares of Global Industrial in a research report on Wednesday, October 8th. Zacks Research cut shares of Global Industrial from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Global Industrial currently has an average rating of “Reduce”.

Global Industrial Stock Up 0.1%

Shares of GIC stock opened at $27.35 on Friday. The stock’s 50-day moving average price is $34.73 and its 200 day moving average price is $30.86. The stock has a market capitalization of $1.05 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 0.92 and a beta of 0.93. Global Industrial has a 52-week low of $20.79 and a 52-week high of $38.79.

Global Industrial (NYSE:GIC) last announced its 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 company had revenue of $353.60 million during the quarter, compared to analysts’ expectations of $357.00 million. Global Industrial had a net margin of 5.11% and a return on equity of 22.85%. Analysts expect that Global Industrial will post 1.59 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 10th will be given a $0.26 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.04 annualized dividend and a yield of 3.8%. Global Industrial’s dividend payout ratio is presently 59.43%.

Institutional Investors Weigh In On Global Industrial

Several institutional investors have recently made changes to their positions in GIC. New York State Common Retirement Fund increased its holdings in shares of Global Industrial by 41.8% in the 1st quarter. New York State Common Retirement Fund now owns 53,572 shares of the company’s stock valued at $1,200,000 after purchasing an additional 15,800 shares in the last quarter. CWM LLC grew its position in Global Industrial by 187.7% during the first quarter. CWM LLC now owns 1,614 shares of the company’s stock worth $36,000 after buying an additional 1,053 shares during the period. Isthmus Partners LLC grew its position in Global Industrial by 4.9% during the first quarter. Isthmus Partners LLC now owns 86,382 shares of the company’s stock worth $1,935,000 after buying an additional 4,022 shares during the period. Denali Advisors LLC increased its holdings in Global Industrial by 54.5% in the first quarter. Denali Advisors LLC now owns 165,779 shares of the company’s stock valued at $3,713,000 after buying an additional 58,479 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its position in shares of Global Industrial by 2.3% during the 1st quarter. GW&K Investment Management LLC now owns 311,688 shares of the company’s stock valued at $6,982,000 after acquiring an additional 7,007 shares during the period. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

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.