Inspire Investing LLC Buys Shares of 54,056 Global Industrial Company $GIC

Inspire Investing LLC bought a new position in shares of Global Industrial Company (NYSE:GIC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 54,056 shares of the company’s stock, valued at approximately $1,704,000.

A number of other large investors have also recently made changes to their positions in GIC. AQR Capital Management LLC raised its stake in shares of Global Industrial by 37.4% during the 1st quarter. AQR Capital Management LLC now owns 61,993 shares of the company’s stock valued at $1,389,000 after purchasing an additional 16,880 shares during the period. Goldman Sachs Group Inc. boosted its stake in Global Industrial by 66.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 143,162 shares of the company’s stock worth $3,207,000 after purchasing an additional 57,056 shares during the period. Jane Street Group LLC grew its holdings in Global Industrial by 16.4% during the 1st quarter. Jane Street Group LLC now owns 17,806 shares of the company’s stock valued at $399,000 after buying an additional 2,512 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of Global Industrial during the second quarter valued at about $231,000. Finally, American Century Companies Inc. increased its position in shares of Global Industrial by 7.8% during the second quarter. American Century Companies Inc. now owns 38,952 shares of the company’s stock valued at $1,052,000 after buying an additional 2,804 shares during the period. 31.19% of the stock is owned by institutional investors.

Global Industrial Stock Down 1.1%

Global Industrial stock opened at $33.50 on Wednesday. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.12 and a beta of 0.79. The business has a 50-day simple moving average of $31.42 and a 200 day simple moving average of $31.36. Global Industrial Company has a 52 week low of $26.40 and a 52 week high of $38.79.

Global Industrial (NYSE:GIC) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The business had revenue of $350.40 million during the quarter, compared to analysts’ expectations of $344.13 million. Global Industrial had a net margin of 5.33% and a return on equity of 23.53%. On average, research analysts anticipate that Global Industrial Company will post 1.89 earnings per share for the current year.

Global Industrial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 18th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, May 18th. Global Industrial’s dividend payout ratio (DPR) is currently 58.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GIC shares. Weiss Ratings downgraded shares of Global Industrial from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 15th. Wall Street Zen lowered shares of Global Industrial from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Global Industrial has a consensus rating of “Hold”.

About Global Industrial

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.