Global Industrial Company $GIC Shares Bought by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. grew its holdings in shares of Global Industrial Company (NYSE:GIC) by 66.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 143,162 shares of the company’s stock after purchasing an additional 57,056 shares during the period. Goldman Sachs Group Inc. owned approximately 0.37% of Global Industrial worth $3,207,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC raised its holdings in Global Industrial by 82.0% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 401,534 shares of the company’s stock worth $8,994,000 after purchasing an additional 180,870 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Global Industrial during the 1st quarter valued at $3,427,000. Nuveen LLC acquired a new stake in Global Industrial during the 1st quarter valued at $1,802,000. Denali Advisors LLC grew its holdings in Global Industrial by 54.5% during the 1st quarter. Denali Advisors LLC now owns 165,779 shares of the company’s stock valued at $3,713,000 after buying an additional 58,479 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Global Industrial by 574.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 52,555 shares of the company’s stock worth $1,303,000 after purchasing an additional 44,764 shares during the last quarter. 31.19% of the stock is owned by hedge funds and other institutional investors.

Global Industrial Stock Performance

Shares of NYSE GIC opened at $36.56 on Friday. Global Industrial Company has a 1 year low of $20.79 and a 1 year high of $38.79. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.16 and a beta of 0.84. The stock’s 50-day simple moving average is $33.89 and its 200-day simple moving average is $27.95.

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

Global Industrial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, August 11th. Global Industrial’s payout ratio is currently 60.82%.

Wall Street Analysts Forecast Growth

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

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.