Alpha Paradigm Partners LLC bought a new stake in Global Industrial (NYSE:GIC) during the 2nd quarter, HoldingsChannel reports. The firm bought 10,496 shares of the company’s stock, valued at approximately $385,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Citigroup Inc. acquired a new stake in shares of Global Industrial in the second quarter valued at about $31,000. Ameritas Investment Partners Inc. purchased a new position in shares of Global Industrial in the second quarter worth about $37,000. Legal & General Group Plc purchased a new position in shares of Global Industrial in the second quarter worth about $77,000. Advisor Group Holdings Inc. purchased a new position in shares of Global Industrial in the second quarter worth about $100,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Global Industrial in the second quarter worth about $102,000. Institutional investors and hedge funds own 30.80% of the company’s stock.
Shares of GIC stock opened at $38.73 on Thursday. The stock’s 50-day moving average price is $38.08. Global Industrial has a 12 month low of $23.20 and a 12 month high of $45.97. The stock has a market capitalization of $1.46 billion, a P/E ratio of 19.17 and a beta of 0.49.
The business also recently declared a quarterly dividend, which was paid on Monday, August 23rd. Stockholders of record on Monday, August 16th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Friday, August 13th. Global Industrial’s dividend payout ratio (DPR) is 38.10%.
GIC has been the topic of several research reports. Zacks Investment Research raised shares of Global Industrial from a “sell” rating to a “hold” rating in a research note on Wednesday, August 4th. TheStreet raised shares of Global Industrial from a “c+” rating to a “b” rating in a research note on Tuesday, August 10th.
In other news, insider Donna Fielding sold 3,444 shares of the business’s stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $38.04, for a total value of $131,009.76. Following the sale, the insider now directly owns 3,311 shares of the company’s stock, valued at approximately $125,950.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 67.00% of the stock is currently owned by insiders.
About Global Industrial
Global Industrial Co engages in direct marketing of brand name and private label industrial and business equipment and supplies. It sells an array of industrial and general business hard goods and supplies and to a lesser extent products that would fall into the generally recognizable category of maintenance, repair and operational (“MRO“) products.
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