42,089 Shares in Global Industrial Company $GIC Purchased by Grandeur Peak Global Advisors LLC

Grandeur Peak Global Advisors LLC acquired a new position in Global Industrial Company (NYSE:GIC) in the 2nd quarter, HoldingsChannel reports. The fund acquired 42,089 shares of the company’s stock, valued at approximately $1,408,000.

Several other large investors have also modified their holdings of the business. BlackRock Inc. bought a new position in shares of Global Industrial during the second quarter valued at approximately $53,365,000. Dimensional Fund Advisors LP lifted its stake in shares of Global Industrial by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 893,325 shares of the company’s stock worth $28,155,000 after acquiring an additional 8,901 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Global Industrial by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 822,006 shares of the company’s stock valued at $30,143,000 after acquiring an additional 17,194 shares during the period. Bank of New York Mellon Corp purchased a new position in Global Industrial during the 2nd quarter valued at $10,510,000. Finally, J. Goldman & Co LP boosted its holdings in Global Industrial by 9.4% during the 4th quarter. J. Goldman & Co LP now owns 307,757 shares of the company’s stock valued at $8,993,000 after acquiring an additional 26,365 shares during the period. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Insider Buying and Selling

In other Global Industrial news, VP Thomas Axmacher sold 1,848 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $38.60, for a total transaction of $71,332.80. Following the completion of the sale, the vice president owned 7,366 shares in the company, valued at $284,327.60. This represents a 20.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 64.51% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Global Industrial Stock Performance

NYSE GIC opened at $39.60 on Friday. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 1.32 and a beta of 0.75. The company’s 50-day simple moving average is $35.91 and its two-hundred day simple moving average is $33.07. Global Industrial Company has a one year low of $26.40 and a one year high of $40.71.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share 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 firm had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $377.40 million. Equities analysts expect that Global Industrial Company will post 1.87 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were paid a $0.28 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.12 dividend on an annualized basis and a yield of 2.8%. Global Industrial’s payout ratio is 50.00%.

Global Industrial 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.