First Trust Advisors LP Has $1.85 Million Stock Holdings in Global Industrial Company $GIC

First Trust Advisors LP grew its stake in Global Industrial Company (NYSE:GIC) by 55.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 58,553 shares of the company’s stock after purchasing an additional 20,934 shares during the quarter. First Trust Advisors LP’s holdings in Global Industrial were worth $1,846,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Algert Global LLC bought a new stake in Global Industrial during the third quarter worth about $5,329,000. Barclays PLC grew its stake in Global Industrial by 164.7% in the third quarter. Barclays PLC now owns 101,921 shares of the company’s stock valued at $3,737,000 after purchasing an additional 63,414 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Global Industrial during the 3rd quarter worth approximately $2,284,000. Goldman Sachs Group Inc. raised its stake in shares of Global Industrial by 41.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 196,347 shares of the company’s stock worth $5,737,000 after purchasing an additional 57,426 shares in the last quarter. Finally, Inspire Investing LLC bought a new stake in shares of Global Industrial during the 1st quarter worth approximately $1,704,000. Institutional investors and hedge funds own 31.19% of the company’s stock.

Global Industrial Stock Down 0.8%

Shares of Global Industrial stock opened at $39.34 on Friday. Global Industrial Company has a twelve month low of $26.40 and a twelve month high of $40.26. The company has a 50-day simple moving average of $33.70 and a two-hundred day simple moving average of $32.28. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 1.30 and a beta of 0.75.

Global Industrial (NYSE:GIC) last announced its earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. The firm had revenue of $386.60 million for the quarter, compared to analyst estimates of $377.40 million. On average, sell-side analysts anticipate that Global Industrial Company will post 1.88 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, August 17th. Global Industrial’s payout ratio is 50.00%.

Wall Street Analyst Weigh In

GIC has been the subject of several recent analyst reports. Wall Street Zen raised Global Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings raised shares of Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

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.