Global Industrial Company $GIC Shares Sold by Laurus Global Equity Management Inc.

Laurus Global Equity Management Inc. trimmed its position in shares of Global Industrial Company (NYSE:GIC) by 29.2% in the fourth quarter, HoldingsChannel reports. The firm owned 44,490 shares of the company’s stock after selling 18,370 shares during the period. Global Industrial makes up 1.1% of Laurus Global Equity Management Inc.’s investment portfolio, making the stock its 17th largest position. Laurus Global Equity Management Inc.’s holdings in Global Industrial were worth $1,300,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in GIC. State of Alaska Department of Revenue bought a new stake in shares of Global Industrial during the third quarter valued at approximately $79,000. State of Wyoming bought a new position in Global Industrial in the 2nd quarter worth approximately $117,000. Arizona State Retirement System acquired a new stake in Global Industrial in the 3rd quarter valued at approximately $208,000. Russell Investments Group Ltd. raised its stake in Global Industrial by 16.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,972 shares of the company’s stock valued at $215,000 after acquiring an additional 1,120 shares in the last quarter. Finally, Quantbot Technologies LP grew its stake in shares of Global Industrial by 242.0% in the third quarter. Quantbot Technologies LP now owns 5,958 shares of the company’s stock worth $218,000 after purchasing an additional 4,216 shares in the last quarter. Institutional investors and hedge funds own 31.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Global Industrial in a research note on Thursday, January 22nd. Zacks Research upgraded shares of Global Industrial from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Global Industrial Stock Up 2.8%

NYSE GIC traded up $0.94 on Thursday, reaching $33.98. 4,196 shares of the stock traded hands, compared to its average volume of 93,925. Global Industrial Company has a 12 month low of $21.60 and a 12 month high of $38.79. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 1.05 and a beta of 0.86. The firm’s fifty day simple moving average is $32.02 and its 200 day simple moving average is $31.01.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Global Industrial had a return on equity of 23.56% and a net margin of 5.23%.The company had revenue of $345.60 million for the quarter, compared to the consensus estimate of $324.86 million. As a group, equities research analysts forecast that Global Industrial Company will post 2 EPS for the current fiscal year.

Global Industrial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, March 9th. This is a positive change from Global Industrial’s previous quarterly dividend of $0.26. Global Industrial’s dividend payout ratio is currently 60.22%.

About Global Industrial

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.