State Street Corp Buys New Position in Global Industrial (NYSE:GIC)

State Street Corp bought a new stake in shares of Global Industrial (NYSE:GIC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 258,031 shares of the company’s stock, valued at approximately $9,472,000. State Street Corp owned about 0.68% of Global Industrial as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Citigroup Inc. purchased a new position in shares of Global Industrial during the second quarter valued at approximately $31,000. Ameritas Investment Partners Inc. purchased a new position in shares of Global Industrial during the second quarter valued at approximately $37,000. Macquarie Group Ltd. purchased a new position in shares of Global Industrial during the second quarter valued at approximately $44,000. Legal & General Group Plc purchased a new position in shares of Global Industrial during the second quarter valued at approximately $77,000. Finally, Advisor Group Holdings Inc. purchased a new position in shares of Global Industrial during the second quarter valued at approximately $100,000. 30.68% of the stock is currently owned by institutional investors.

GIC stock opened at $43.50 on Thursday. The stock has a fifty day simple moving average of $39.86. Global Industrial has a 1-year low of $30.43 and a 1-year high of $45.97. The stock has a market capitalization of $1.64 billion, a PE ratio of 21.97 and a beta of 0.49.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, November 2nd. The company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Global Industrial had a return on equity of 51.72% and a net margin of 7.12%. During the same period in the previous year, the company earned $0.64 EPS. As a group, equities analysts predict that Global Industrial will post 1.73 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 22nd. Stockholders of record on Monday, November 15th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, November 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.47%. Global Industrial’s dividend payout ratio is presently 32.32%.

In other news, insider Donna Fielding sold 3,444 shares of the company’s stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $38.04, for a total transaction of $131,009.76. Following the transaction, the insider now owns 3,311 shares of the company’s stock, valued at approximately $125,950.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 67.00% of the stock is owned by corporate insiders.

GIC has been the topic of several analyst reports. TheStreet raised Global Industrial from a “c+” rating to a “b” rating in a research report on Tuesday, August 10th. Zacks Investment Research raised Global Industrial from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Thursday, November 4th.

Global Industrial Profile

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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Institutional Ownership by Quarter for Global Industrial (NYSE:GIC)

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