Global Industrial (NYSE:GIC) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its position in shares of Global Industrial (NYSE:GIC) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 731,019 shares of the company’s stock after selling 22,230 shares during the quarter. Vanguard Group Inc. owned 1.91% of Global Industrial worth $18,122,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Barclays PLC lifted its stake in Global Industrial by 221.5% in the third quarter. Barclays PLC now owns 30,622 shares of the company’s stock valued at $1,041,000 after buying an additional 21,097 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Global Industrial by 39.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 46,005 shares of the company’s stock valued at $1,563,000 after purchasing an additional 13,105 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Global Industrial by 34.6% during the 4th quarter. New York State Common Retirement Fund now owns 37,772 shares of the company’s stock valued at $936,000 after purchasing an additional 9,700 shares during the period. State Street Corp grew its holdings in Global Industrial by 2.6% in the 3rd quarter. State Street Corp now owns 315,779 shares of the company’s stock worth $10,727,000 after buying an additional 8,136 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Global Industrial by 102.0% in the fourth quarter. Rhumbline Advisers now owns 38,697 shares of the company’s stock worth $959,000 after purchasing an additional 19,543 shares in the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

Global Industrial Trading Down 1.7 %

GIC stock opened at $21.97 on Thursday. Global Industrial has a 52 week low of $20.79 and a 52 week high of $41.38. The company has a market capitalization of $841.69 million, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 0.93 and a beta of 0.85. The firm’s 50-day moving average is $23.01 and its two-hundred day moving average is $26.18.

Global Industrial (NYSE:GIC) last issued its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The business had revenue of $302.30 million for the quarter, compared to the consensus estimate of $306.07 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. On average, equities research analysts predict that Global Industrial will post 1.59 earnings per share for the current year.

Global Industrial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.26 per share. This is an increase from Global Industrial’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 4.73%. The ex-dividend date of this dividend was Monday, March 10th. Global Industrial’s payout ratio is 66.24%.

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.