Global Industrial Company $GIC Shares Bought by Grandeur Peak Global Advisors LLC

Grandeur Peak Global Advisors LLC boosted its stake in Global Industrial Company (NYSE:GIC) by 88.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,089 shares of the company’s stock after acquiring an additional 19,703 shares during the period. Grandeur Peak Global Advisors LLC’s holdings in Global Industrial were worth $1,408,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Hsbc Holdings PLC raised its holdings in Global Industrial by 6.2% during the second quarter. Hsbc Holdings PLC now owns 81,296 shares of the company’s stock worth $2,757,000 after purchasing an additional 4,775 shares in the last quarter. Empowered Funds LLC purchased a new position in Global Industrial during the second quarter worth about $211,000. Corient Private Wealth LP purchased a new position in Global Industrial during the second quarter worth about $259,000. Bank of America Corp DE acquired a new stake in Global Industrial in the 2nd quarter worth about $3,367,000. Finally, Odyssean LLC acquired a new stake in Global Industrial in the 2nd quarter worth about $217,000. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Insider Activity

In related news, VP Thomas Axmacher sold 952 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $39.10, for a total transaction of $37,223.20. Following the completion of the sale, the vice president owned 6,414 shares of the company’s stock, valued at approximately $250,787.40. This represents a 12.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 64.51% of the company’s stock.

Global Industrial Trading Down 0.0%

Shares of Global Industrial stock opened at $39.59 on Monday. Global Industrial Company has a twelve month low of $26.40 and a twelve month high of $40.71. The stock has a market capitalization of $1.51 billion, a P/E ratio of 17.67, a PEG ratio of 1.32 and a beta of 0.75. The business’s fifty day moving average price is $36.04 and its 200 day moving average price is $33.12.

Global Industrial (NYSE:GIC) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $386.60 million during the quarter, compared to the consensus estimate of $377.40 million. Global Industrial had a return on equity of 21.49% and a net margin of 6.06%. As a group, sell-side analysts predict that Global Industrial Company will post 1.87 EPS for the current year.

Global Industrial Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on GIC shares. 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. Weiss Ratings upgraded shares of Global Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently 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.