Ameriprise Financial Inc. Sells 53,656 Shares of Global Industrial (NYSE:GIC)

Ameriprise Financial Inc. lessened its stake in Global Industrial (NYSE:GIC) by 56.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,493 shares of the company’s stock after selling 53,656 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.11% of Global Industrial worth $1,029,000 at the end of the most recent quarter.

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

Global Industrial Stock Down 1.1%

NYSE GIC opened at $26.02 on Monday. The company’s 50 day moving average is $24.02 and its 200-day moving average is $24.69. Global Industrial has a 12-month low of $20.79 and a 12-month high of $36.17. The firm has a market cap of $998.15 million, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 0.93 and a beta of 0.82.

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

Global Industrial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.00%. Global Industrial’s payout ratio is 65.82%.

About Global Industrial

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.