KLP Kapitalforvaltning AS Has $500,000 Stock Holdings in Global Industrial Company $GIC

KLP Kapitalforvaltning AS increased its position in shares of Global Industrial Company (NYSE:GIC) by 62.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,500 shares of the company’s stock after buying an additional 7,100 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Global Industrial were worth $500,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GIC. Jacobs Levy Equity Management Inc. acquired a new stake in Global Industrial during the first quarter valued at approximately $3,427,000. GAMMA Investing LLC boosted 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. Cubist Systematic Strategies LLC acquired a new stake in Global Industrial during the first quarter valued at approximately $768,000. SG Americas Securities LLC boosted its holdings in Global Industrial by 135.5% during the first quarter. SG Americas Securities LLC now owns 18,780 shares of the company’s stock valued at $421,000 after purchasing an additional 10,806 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Global Industrial by 66.3% during the first quarter. Goldman Sachs Group Inc. now owns 143,162 shares of the company’s stock valued at $3,207,000 after purchasing an additional 57,056 shares in the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GIC shares. Zacks Research downgraded Global Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Global Industrial in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Global Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Global Industrial Price Performance

GIC stock opened at $34.69 on Friday. The company has a 50 day moving average price of $36.20 and a 200 day moving average price of $29.82. Global Industrial Company has a fifty-two week low of $20.79 and a fifty-two week high of $38.79. The stock has a market capitalization of $1.33 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.11 and a beta of 0.87.

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

Global Industrial Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 3.0%. Global Industrial’s payout ratio is presently 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.