Global Industrial (NYSE:GIC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Global Industrial (NYSE:GIC) from a buy rating to a strong-buy rating in a research note released on Monday morning.

Other research analysts have also recently issued reports about the stock. Zacks Research cut shares of Global Industrial from a “hold” rating to a “strong sell” rating in a report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Global Industrial in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Global Industrial Stock Down 1.9%

Shares of NYSE GIC opened at $29.21 on Monday. The stock has a market cap of $1.12 billion, a P/E ratio of 16.69, a P/E/G ratio of 1.01 and a beta of 0.93. The firm’s 50-day simple moving average is $29.01 and its 200 day simple moving average is $31.58. Global Industrial has a fifty-two week low of $20.79 and a fifty-two 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). The company had revenue of $353.60 million during the quarter, compared to the consensus estimate of $357.00 million. Global Industrial had a net margin of 5.11% and a return on equity of 22.85%. On average, sell-side analysts anticipate that Global Industrial will post 1.59 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 10th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, November 10th. Global Industrial’s payout ratio is presently 59.43%.

Institutional Trading of Global Industrial

A number of hedge funds have recently modified their holdings of GIC. Vanguard Group Inc. boosted its position in shares of Global Industrial by 2.1% in the third quarter. Vanguard Group Inc. now owns 822,006 shares of the company’s stock worth $30,143,000 after buying an additional 17,194 shares during the period. Geode Capital Management LLC lifted its stake in Global Industrial by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 332,297 shares of the company’s stock worth $8,977,000 after acquiring an additional 10,095 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Global Industrial by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 308,639 shares of the company’s stock worth $8,336,000 after acquiring an additional 2,083 shares in the last quarter. Millennium Management LLC boosted its position in Global Industrial by 6.3% during the 3rd quarter. Millennium Management LLC now owns 227,039 shares of the company’s stock worth $8,326,000 after acquiring an additional 13,378 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new position in Global Industrial during the 3rd quarter valued at about $6,985,000. Hedge funds and other institutional investors own 31.19% of the company’s stock.

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.