Global Industrial Company $GIC Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its holdings in Global Industrial Company (NYSE:GIC) by 40.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,114 shares of the company’s stock after acquiring an additional 18,123 shares during the period. Hsbc Holdings PLC owned approximately 0.17% of Global Industrial worth $1,860,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GIC. Los Angeles Capital Management LLC increased its holdings in shares of Global Industrial by 0.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 61,392 shares of the company’s stock valued at $1,732,000 after purchasing an additional 323 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Global Industrial by 3.2% in the 3rd quarter. Rhumbline Advisers now owns 21,207 shares of the company’s stock worth $778,000 after acquiring an additional 666 shares during the last quarter. Swiss National Bank increased its stake in shares of Global Industrial by 1.9% in the 4th quarter. Swiss National Bank now owns 37,800 shares of the company’s stock worth $1,105,000 after acquiring an additional 700 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Global Industrial by 11.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 8,544 shares of the company’s stock worth $250,000 after acquiring an additional 888 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Global Industrial by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,146 shares of the company’s stock valued at $706,000 after acquiring an additional 1,038 shares during the last quarter. 31.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GIC shares. Weiss Ratings downgraded shares of Global Industrial from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Wall Street Zen lowered shares of Global Industrial from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Global Industrial has a consensus rating of “Hold”.

Global Industrial Price Performance

Shares of GIC opened at $33.98 on Tuesday. The firm has a 50-day simple moving average of $31.42 and a two-hundred day simple moving average of $31.33. The stock has a market cap of $1.30 billion, a PE ratio of 17.61, a P/E/G ratio of 1.16 and a beta of 0.79. Global Industrial Company has a 1-year low of $26.40 and a 1-year high of $38.79.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). Global Industrial had a return on equity of 23.53% and a net margin of 5.33%.The company had revenue of $350.40 million for the quarter, compared to analysts’ expectations of $344.13 million. As a group, sell-side analysts expect that Global Industrial Company will post 1.89 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 18th were paid a $0.28 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.3%. Global Industrial’s payout ratio is presently 58.03%.

Global Industrial Profile

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.