Wells Fargo & Company MN Increases Stock Holdings in Global Industrial (NYSE:GIC)

Wells Fargo & Company MN grew its holdings in shares of Global Industrial (NYSE:GIC) by 44.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,058 shares of the company’s stock after purchasing an additional 2,170 shares during the quarter. Wells Fargo & Company MN’s holdings in Global Industrial were worth $175,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Global Industrial during the fourth quarter valued at approximately $4,001,000. Bank of New York Mellon Corp increased its stake in shares of Global Industrial by 65.6% in 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 in the last quarter. JPMorgan Chase & Co. raised its holdings in Global Industrial by 139.0% in the 4th quarter. JPMorgan Chase & Co. now owns 109,941 shares of the company’s stock worth $2,725,000 after purchasing an additional 63,936 shares during the period. Eaton Financial Holdings Company LLC purchased a new position in Global Industrial during the fourth quarter valued at $825,000. Finally, Denali Advisors LLC increased its position in Global Industrial by 44.4% in the fourth quarter. Denali Advisors LLC now owns 107,300 shares of the company’s stock worth $2,660,000 after buying an additional 33,000 shares in the last quarter. Institutional investors own 31.19% of the company’s stock.

Global Industrial Stock Down 0.4 %

NYSE GIC opened at $25.86 on Friday. The stock’s 50-day moving average price is $22.91 and its 200-day moving average price is $25.04. The company has a market capitalization of $992.02 million, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 0.93 and a beta of 0.82. Global Industrial has a 52 week low of $20.79 and a 52 week high of $36.17.

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

Global Industrial Announces Dividend

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