Edgestream Partners L.P. Buys New Position in Global Industrial (NYSE:GIC)

Edgestream Partners L.P. bought a new stake in shares of Global Industrial (NYSE:GIC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 32,443 shares of the company’s stock, valued at approximately $1,017,000. Edgestream Partners L.P. owned approximately 0.08% of Global Industrial at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Global Industrial by 137.3% during the 1st quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock valued at $32,118,000 after buying an additional 414,924 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Global Industrial in the first quarter valued at about $3,824,000. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 valued at $576,000 after purchasing an additional 459 shares during the period. Quest Partners LLC acquired a new position in shares of Global Industrial in the second quarter valued at about $268,000. Finally, Panagora Asset Management Inc. increased its holdings in shares of Global Industrial by 7.7% in 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. 31.19% of the stock is owned by institutional investors and hedge funds.

Global Industrial Stock Performance

Shares of GIC stock opened at $33.22 on Friday. The stock’s 50-day simple moving average is $33.09 and its 200-day simple moving average is $36.17. The firm has a market capitalization of $1.27 billion, a PE ratio of 18.05, a P/E/G ratio of 1.00 and a beta of 0.83. Global Industrial has a fifty-two week low of $30.13 and a fifty-two week high of $46.97.

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. The business had revenue of $347.80 million for the quarter, compared to analyst estimates of $348.84 million. Global Industrial had a return on equity of 26.82% and a net margin of 5.16%. During the same period in the prior year, the company earned $0.56 earnings per share. Sell-side analysts forecast that Global Industrial will post 1.97 earnings per share for the current year.

Global Industrial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.01%. Global Industrial’s payout ratio is 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.