Bank of America Corp DE Purchases 1,443 Shares of Global Industrial (NYSE:GIC)

Bank of America Corp DE lifted its position in shares of Global Industrial (NYSE:GIC) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,710 shares of the company’s stock after buying an additional 1,443 shares during the quarter. Bank of America Corp DE owned approximately 0.11% of Global Industrial worth $1,034,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GIC. Rhumbline Advisers grew its position in shares of Global Industrial by 102.0% during the 4th quarter. Rhumbline Advisers now owns 38,697 shares of the company’s stock worth $959,000 after buying an additional 19,543 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of 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 worth $936,000 after buying an additional 9,700 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Global Industrial by 65.6% during the fourth quarter. Bank of New York Mellon Corp now owns 319,282 shares of the company’s stock valued at $7,915,000 after purchasing an additional 126,431 shares in the last quarter. Denali Advisors LLC boosted its position in Global Industrial by 44.4% during the fourth quarter. Denali Advisors LLC now owns 107,300 shares of the company’s stock valued at $2,660,000 after purchasing an additional 33,000 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Global Industrial during the fourth quarter valued at about $4,001,000. Institutional investors own 31.19% of the company’s stock.

Global Industrial Price Performance

Shares of GIC stock opened at $27.11 on Friday. Global Industrial has a 1-year low of $20.79 and a 1-year high of $36.17. The stock’s 50-day moving average is $24.43 and its 200 day moving average is $24.71. The company has a market cap of $1.04 billion, a P/E ratio of 15.95, a PEG ratio of 0.93 and a beta of 0.80.

Global Industrial (NYSE:GIC) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.15. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. The company had revenue of $321.00 million for the quarter, compared to the consensus estimate of $307.15 million. On average, analysts anticipate 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 given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Monday, May 12th. Global Industrial’s payout ratio is currently 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.