The Manufacturers Life Insurance Company Purchases 786 Shares of Global Industrial (NYSE:GIC)

The Manufacturers Life Insurance Company boosted its position in Global Industrial (NYSE:GIC) by 9.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,808 shares of the company’s stock after purchasing an additional 786 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Global Industrial were worth $299,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in shares of Global Industrial by 2.1% during the second quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock valued at $619,000 after acquiring an additional 397 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Global Industrial by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 120,803 shares of the company’s stock valued at $4,104,000 after acquiring an additional 456 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Global Industrial by 41.8% during the second quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock valued at $153,000 after acquiring an additional 1,472 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Global Industrial by 7.5% during the second quarter. Sei Investments Co. now owns 22,124 shares of the company’s stock valued at $694,000 after acquiring an additional 1,545 shares in the last quarter. Finally, Copeland Capital Management LLC bought a new position in shares of Global Industrial during the third quarter valued at $61,000. Institutional investors own 31.19% of the company’s stock.

Global Industrial Price Performance

Shares of NYSE:GIC opened at $27.00 on Monday. Global Industrial has a 1-year low of $25.00 and a 1-year high of $46.97. The business has a fifty day moving average price of $29.70 and a 200-day moving average price of $31.72. The company has a market capitalization of $1.03 billion, a PE ratio of 15.88, a PEG ratio of 1.07 and a beta of 0.86.

Global Industrial (NYSE:GIC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.14). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The company had revenue of $342.40 million for the quarter, compared to the consensus estimate of $353.44 million. During the same quarter in the previous year, the business earned $0.54 earnings per share. On average, sell-side analysts anticipate that Global Industrial will post 1.62 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 3.70%. Global Industrial’s dividend payout ratio (DPR) is presently 58.82%.

Insider Activity at Global Industrial

In other Global Industrial news, Vice Chairman Bruce Leeds sold 5,840 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total value of $165,155.20. Following the transaction, the insider now directly owns 23,675 shares of the company’s stock, valued at approximately $669,529. This trade represents a 19.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 65.30% of the stock is currently owned by insiders.

About Global Industrial

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.