The Manufacturers Life Insurance Company Sells 417 Shares of Global Industrial (NYSE:GIC)

The Manufacturers Life Insurance Company trimmed its stake in shares of Global Industrial (NYSE:GIC) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,391 shares of the company’s stock after selling 417 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Global Industrial were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in GIC. Tower Research Capital LLC TRC grew its stake in Global Industrial by 340.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company’s stock valued at $39,000 after acquiring an additional 1,206 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Global Industrial in the fourth quarter valued at $50,000. Quantbot Technologies LP raised its stake in shares of Global Industrial by 150.3% in the fourth quarter. Quantbot Technologies LP now owns 3,614 shares of the company’s stock valued at $90,000 after buying an additional 2,170 shares during the period. Wells Fargo & Company MN raised its stake in shares of Global Industrial by 44.4% in the fourth quarter. Wells Fargo & Company MN now owns 7,058 shares of the company’s stock valued at $175,000 after buying an additional 2,170 shares during the period. Finally, MetLife Investment Management LLC raised its stake in shares of Global Industrial by 13.6% during the 4th quarter. MetLife Investment Management LLC now owns 8,215 shares of the company’s stock valued at $204,000 after purchasing an additional 982 shares during the period. 31.19% of the stock is currently owned by institutional investors.

Global Industrial Stock Performance

NYSE:GIC opened at $27.33 on Monday. Global Industrial has a 52-week low of $20.79 and a 52-week high of $36.17. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 0.93 and a beta of 0.82. The business’s fifty day moving average is $23.25 and its 200 day moving average is $24.79.

Global Industrial (NYSE:GIC) last announced its 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 for the quarter, compared to analyst estimates of $307.15 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. Equities analysts predict that Global Industrial will post 1.59 EPS for the current fiscal year.

Global Industrial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 12th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Monday, May 12th. Global Industrial’s payout ratio is currently 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.