Quest Partners LLC Acquires New Shares in Global Industrial (NYSE:GIC)

Quest Partners LLC bought a new stake in shares of Global Industrial (NYSE:GIC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 8,546 shares of the company’s stock, valued at approximately $268,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Acadian Asset Management LLC increased its holdings in Global Industrial by 17.9% in the 2nd quarter. Acadian Asset Management LLC now owns 20,088 shares of the company’s stock worth $629,000 after buying an additional 3,048 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Global Industrial by 41.8% in the second quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock worth $153,000 after acquiring an additional 1,472 shares during the period. Rhumbline Advisers raised its holdings in shares of Global Industrial by 2.1% during the second quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock valued at $619,000 after purchasing an additional 397 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Global Industrial by 7.7% during the second quarter. Panagora Asset Management Inc. now owns 62,583 shares of the company’s stock valued at $1,963,000 after purchasing an additional 4,448 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Global Industrial by 3.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company’s stock worth $576,000 after purchasing an additional 459 shares during the last quarter. Institutional investors own 31.19% of the company’s stock.

Global Industrial Trading Down 0.0 %

NYSE:GIC opened at $32.21 on Friday. The company has a 50 day simple moving average of $32.92 and a two-hundred day simple moving average of $36.41. The company has a market cap of $1.23 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.00 and a beta of 0.83. Global Industrial has a 12 month low of $30.13 and a 12 month high of $46.97.

Global Industrial (NYSE:GIC) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Global Industrial had a return on equity of 26.82% and a net margin of 5.16%. The company had revenue of $347.80 million during the quarter, compared to analyst estimates of $348.84 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. Research analysts forecast that Global Industrial will post 1.97 earnings per share for the current year.

Global Industrial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Friday, August 9th. Global Industrial’s dividend payout ratio (DPR) is presently 54.35%.

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.