American Century Companies Inc. Reduces Stock Holdings in Global Industrial Company $GIC

American Century Companies Inc. trimmed its stake in shares of Global Industrial Company (NYSE:GIC) by 30.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,148 shares of the company’s stock after selling 15,742 shares during the period. American Century Companies Inc. owned 0.09% of Global Industrial worth $810,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC lifted its holdings in Global Industrial by 187.7% during the first quarter. CWM LLC now owns 1,614 shares of the company’s stock valued at $36,000 after purchasing an additional 1,053 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Global Industrial by 340.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company’s stock valued at $39,000 after purchasing an additional 1,206 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Global Industrial by 1,600.0% during the first quarter. GAMMA Investing LLC now owns 2,397 shares of the company’s stock valued at $54,000 after purchasing an additional 2,256 shares in the last quarter. US Bancorp DE lifted its holdings in Global Industrial by 954.3% during the first quarter. US Bancorp DE now owns 3,068 shares of the company’s stock valued at $69,000 after purchasing an additional 2,777 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Global Industrial by 3,930.6% during the first quarter. Russell Investments Group Ltd. now owns 6,852 shares of the company’s stock valued at $153,000 after purchasing an additional 6,682 shares in the last quarter. 31.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 2nd.

Global Industrial Trading Up 2.3%

Global Industrial stock opened at $38.21 on Friday. Global Industrial Company has a 12-month low of $20.79 and a 12-month high of $38.30. The stock has a market cap of $1.47 billion, a P/E ratio of 22.34, a PEG ratio of 1.19 and a beta of 0.84. The company has a 50-day moving average price of $32.01 and a 200 day moving average price of $27.03.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15. Global Industrial had a net margin of 5.00% and a return on equity of 22.89%. The business had revenue of $358.90 million during the quarter, compared to analysts’ expectations of $351.81 million. As a group, analysts forecast that Global Industrial Company will post 1.59 EPS for the current year.

Global Industrial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.7%. Global Industrial’s dividend payout ratio (DPR) is currently 60.82%.

About Global Industrial

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.