Laurus Global Equity Management Inc. Sells 16,900 Shares of Global Industrial Company $GIC

Laurus Global Equity Management Inc. lowered its position in shares of Global Industrial Company (NYSE:GIC) by 21.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 62,860 shares of the company’s stock after selling 16,900 shares during the period. Global Industrial comprises about 1.1% of Laurus Global Equity Management Inc.’s investment portfolio, making the stock its 19th largest position. Laurus Global Equity Management Inc.’s holdings in Global Industrial were worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. bought a new stake in Global Industrial during the first quarter worth about $3,427,000. GAMMA Investing LLC raised its stake in Global Industrial by 1,600.0% during the first quarter. GAMMA Investing LLC now owns 2,397 shares of the company’s stock valued at $54,000 after buying an additional 2,256 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Global Industrial in the first quarter worth $768,000. SG Americas Securities LLC increased its holdings in shares of Global Industrial by 135.5% during the first quarter. SG Americas Securities LLC now owns 18,780 shares of the company’s stock valued at $421,000 after acquiring an additional 10,806 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Global Industrial by 3,930.6% in the 1st quarter. Russell Investments Group Ltd. now owns 6,852 shares of the company’s stock worth $153,000 after purchasing an additional 6,682 shares in the last quarter. 31.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Industrial in a report on Saturday, September 27th. Wall Street Zen upgraded shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Finally, Zacks Research cut Global Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Global Industrial Stock Down 0.4%

GIC opened at $35.84 on Monday. Global Industrial Company has a twelve month low of $20.79 and a twelve month high of $38.79. The firm has a 50 day moving average price of $35.87 and a 200-day moving average price of $29.05. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 1.14 and a beta of 0.87.

Global Industrial (NYSE:GIC) last announced its earnings results on Tuesday, July 29th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15. Global Industrial had a net margin of 5.00% and a return on equity of 22.89%. The business had revenue of $358.90 million during the quarter, compared to analyst estimates of $351.81 million. As a group, analysts expect that Global Industrial Company will post 1.59 earnings per share for the current year.

Global Industrial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 2.9%. Global Industrial’s dividend payout ratio (DPR) is presently 60.82%.

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.