Janus Henderson Group PLC Has $207,000 Stake in Global Industrial Company $GIC

Janus Henderson Group PLC lowered its position in Global Industrial Company (NYSE:GIC) by 73.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,585 shares of the company’s stock after selling 18,684 shares during the quarter. Janus Henderson Group PLC’s holdings in Global Industrial were worth $207,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GIC. Algert Global LLC acquired a new position in shares of Global Industrial during the 3rd quarter worth about $5,329,000. Barclays PLC lifted its stake in Global Industrial by 164.7% in the 3rd quarter. Barclays PLC now owns 101,921 shares of the company’s stock valued at $3,737,000 after purchasing an additional 63,414 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Global Industrial by 41.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 196,347 shares of the company’s stock valued at $5,737,000 after purchasing an additional 57,426 shares during the last quarter. Inspire Investing LLC bought a new position in Global Industrial during the first quarter worth about $1,704,000. Finally, Lazard Asset Management LLC bought a new position in Global Industrial during the third quarter worth about $1,384,000. Institutional investors own 31.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings upgraded Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded Global Industrial from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Global Industrial has a consensus rating of “Hold”.

Insider Activity

In other news, VP Thomas Axmacher sold 1,848 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $38.60, for a total value of $71,332.80. Following the transaction, the vice president owned 7,366 shares of the company’s stock, valued at approximately $284,327.60. This represents a 20.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 64.51% of the stock is currently owned by corporate insiders.

Global Industrial Price Performance

Shares of GIC opened at $39.43 on Wednesday. The firm has a market capitalization of $1.50 billion, a PE ratio of 17.60, a PEG ratio of 1.33 and a beta of 0.75. The company’s 50-day moving average is $34.07 and its 200-day moving average is $32.40. Global Industrial Company has a fifty-two week low of $26.40 and a fifty-two week high of $40.71.

Global Industrial (NYSE:GIC) last announced its earnings results on Tuesday, August 4th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. The business had revenue of $386.60 million during the quarter, compared to the consensus estimate of $377.40 million. Analysts predict that Global Industrial Company will post 1.87 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, August 17th. Global Industrial’s payout ratio is currently 50.00%.

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.