Should You Consider Investing in Global Industrial Company (GIC)?

Carillon Tower Advisers, an investment management company, released its “Carillon Scout Small Cap Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. Economic slowdown, inflation, ongoing Russia-Ukraine war, and Federal Reserve actions provided uncertainty in the market. Investors reacted negatively to these issues; thus, the equity market declined considerably in the second quarter. The small-cap funds represented by the Russell 2000 Growth Index declined significantly in the quarter. Investing in small-cap companies involves more risk compared to other investments. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers discussed stocks like Global Industrial Company (NYSE:GIC) in the second quarter 2022 investor letter. Headquartered in Port Washington, New York, Global Industrial Company (NYSE:GIC) is an industrial equipment distributor for industrial operations, maintenance, and repair. On October 6, 2022, Global Industrial Company (NYSE:GIC) stock closed at $28.11 per share. One-month return of Global Industrial Company (NYSE:GIC) was -4.81% and its shares lost  28.82% of their value over the last 52 weeks. Global Industrial Company (NYSE:GIC) has a market capitalization of $1.066 billion.

Here is what Carillon Tower Advisers specifically said about Global Industrial Company (NYSE:GIC) in its Q2 2022 investor letter:

“Global Industrial Company (NYSE:GIC) is a value-added distributor of industrial equipment and maintenance, repair and operations (MRO) products to a broad range of customers throughout North America. The company reported healthy results as it met strong customer demand, fulfilled back orders, and successfully passed through rising costs.”

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Global Industrial Company (NYSE:GIC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 7 hedge fund portfolios held Global Industrial Company (NYSE:GIC) at the end of the second quarter which was 9 in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.