Geode Capital Management LLC Has $10.74 Million Stock Position in Global Industrial (NYSE:GIC)

Geode Capital Management LLC boosted its holdings in shares of Global Industrial (NYSE:GIC) by 3.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 316,083 shares of the company’s stock after acquiring an additional 10,601 shares during the quarter. Geode Capital Management LLC owned 0.83% of Global Industrial worth $10,740,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GIC. Copeland Capital Management LLC acquired a new stake in shares of Global Industrial during the third quarter worth approximately $61,000. Point72 Asset Management L.P. boosted its stake in shares of Global Industrial by 173.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock valued at $111,000 after buying an additional 2,249 shares during the period. National Bank of Canada FI grew its holdings in shares of Global Industrial by 41.8% during the 2nd 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. The Manufacturers Life Insurance Company increased its stake in shares of Global Industrial by 12.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock worth $252,000 after acquiring an additional 919 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Global Industrial during the third quarter worth $281,000. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Global Industrial Trading Up 0.3 %

GIC opened at $24.79 on Wednesday. The stock has a fifty day moving average price of $27.94 and a 200 day moving average price of $31.08. Global Industrial has a 1 year low of $24.28 and a 1 year high of $46.97. The stock has a market cap of $947.75 million, a price-to-earnings ratio of 14.58, a PEG ratio of 1.07 and a beta of 0.86.

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

Global Industrial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 4.03%. Global Industrial’s dividend payout ratio (DPR) is 58.82%.

Insider Buying and Selling

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 transaction of $165,155.20. Following the transaction, the insider now directly owns 23,675 shares in the company, valued at $669,529. This trade represents a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 65.30% of the stock is currently owned by corporate insiders.

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.