Invesco Ltd. Cuts Position in Global Industrial (NYSE:GIC)

Invesco Ltd. reduced its holdings in shares of Global Industrial (NYSE:GIC) by 10.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,424 shares of the company’s stock after selling 3,405 shares during the quarter. Invesco Ltd. owned 0.08% of Global Industrial worth $729,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in GIC. Bank of New York Mellon Corp boosted its position in Global Industrial by 65.6% during the 4th quarter. Bank of New York Mellon Corp now owns 319,282 shares of the company’s stock worth $7,915,000 after purchasing an additional 126,431 shares during the period. Geode Capital Management LLC lifted its stake in shares of Global Industrial by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 319,056 shares of the company’s stock worth $7,912,000 after purchasing an additional 2,973 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Global Industrial in the fourth quarter worth about $4,001,000. JPMorgan Chase & Co. grew its stake in shares of Global Industrial by 139.0% in the fourth quarter. JPMorgan Chase & Co. now owns 109,941 shares of the company’s stock valued at $2,725,000 after buying an additional 63,936 shares in the last quarter. Finally, Denali Advisors LLC raised its holdings in shares of Global Industrial by 44.4% during the 4th quarter. Denali Advisors LLC now owns 107,300 shares of the company’s stock valued at $2,660,000 after buying an additional 33,000 shares during the period. Institutional investors and hedge funds own 31.19% of the company’s stock.

Global Industrial Stock Performance

Global Industrial stock opened at $25.85 on Friday. The firm has a market capitalization of $991.63 million, a PE ratio of 15.21, a price-to-earnings-growth ratio of 0.93 and a beta of 0.85. Global Industrial has a one year low of $20.79 and a one year high of $36.17. The stock’s 50 day moving average price is $22.68 and its 200 day moving average price is $25.33.

Global Industrial (NYSE:GIC) last posted its earnings results on Tuesday, April 29th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.15. The business had revenue of $321.00 million for the quarter, compared to analysts’ expectations of $307.15 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. On average, analysts forecast that Global Industrial will post 1.59 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 12th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 4.02%. Global Industrial’s dividend payout ratio is presently 65.82%.

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.