Arizona State Retirement System Invests $206,000 in Global Industrial (NYSE:GIC)

Arizona State Retirement System acquired a new position in Global Industrial (NYSE:GIC) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,316 shares of the company’s stock, valued at approximately $206,000.

A number of other hedge funds have also recently made changes to their positions in GIC. Tower Research Capital LLC TRC lifted its position in shares of Global Industrial by 122.6% in the first quarter. Tower Research Capital LLC TRC now owns 1,015 shares of the company’s stock worth $27,000 after buying an additional 559 shares in the last quarter. Citigroup Inc. raised its position in Global Industrial by 116.1% during the first quarter. Citigroup Inc. now owns 1,113 shares of the company’s stock valued at $30,000 after purchasing an additional 598 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Global Industrial during the second quarter valued at approximately $64,000. Royal Bank of Canada raised its position in Global Industrial by 155.1% during the third quarter. Royal Bank of Canada now owns 2,008 shares of the company’s stock valued at $54,000 after purchasing an additional 1,221 shares during the period. Finally, Lazard Asset Management LLC raised its position in Global Industrial by 107.9% during the fourth quarter. Lazard Asset Management LLC now owns 2,958 shares of the company’s stock valued at $69,000 after purchasing an additional 1,535 shares during the period. Institutional investors own 31.19% of the company’s stock.

Insider Transactions at Global Industrial

In other news, Vice Chairman Bruce Leeds sold 380,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $41.15, for a total value of $15,637,000.00. Following the sale, the insider now directly owns 139,800 shares in the company, valued at $5,752,770. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 66.34% of the company’s stock.

Global Industrial Price Performance

Shares of GIC stock opened at $40.52 on Monday. Global Industrial has a 1 year low of $20.52 and a 1 year high of $46.97. The stock’s 50 day simple moving average is $44.16 and its two-hundred day simple moving average is $39.66. The company has a market cap of $1.55 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88.

Global Industrial (NYSE:GIC) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. Global Industrial had a return on equity of 29.76% and a net margin of 5.55%. The business had revenue of $320.10 million for the quarter, compared to the consensus estimate of $313.50 million. Equities research analysts expect that Global Industrial will post 2.03 EPS for the current year.

Global Industrial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.47%. This is an increase from Global Industrial’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, March 8th. Global Industrial’s dividend payout ratio is presently 54.05%.

Global Industrial Profile

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.