33,725 Shares in Global Industrial Company $GIC Purchased by PDT Partners LLC

PDT Partners LLC acquired a new position in Global Industrial Company (NYSE:GIC) in the 2nd quarter, HoldingsChannel reports. The fund acquired 33,725 shares of the company’s stock, valued at approximately $1,128,000.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Global Industrial during the 2nd quarter worth approximately $53,365,000. Bank of New York Mellon Corp purchased a new stake in Global Industrial in the second quarter worth $10,510,000. Algert Global LLC bought a new stake in shares of Global Industrial during the third quarter worth $5,329,000. Edgestream Partners L.P. purchased a new stake in shares of Global Industrial during the first quarter valued at $2,920,000. Finally, Barclays PLC boosted its stake in shares of Global Industrial by 164.7% during the third 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 period. Institutional investors own 31.19% of the company’s stock.

Insider Activity

In other news, VP Thomas Axmacher sold 1,848 shares of Global Industrial stock in a transaction 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 directly owned 7,366 shares in the company, valued at approximately $284,327.60. This trade represents a 20.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 64.51% of the company’s stock.

Global Industrial Trading Down 0.3%

GIC opened at $39.53 on Thursday. Global Industrial Company has a 12-month low of $26.40 and a 12-month high of $40.71. The business’s fifty day simple moving average is $35.77 and its 200-day simple moving average is $33.02. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.32 and a beta of 0.75.

Global Industrial (NYSE:GIC) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.54 earnings per share 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 firm had revenue of $386.60 million during the quarter, compared to the consensus estimate of $377.40 million. On average, equities research analysts predict that Global Industrial Company will post 1.87 EPS for the current year.

Global Industrial Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.