Millennium Management LLC Sells 80,620 Shares of Global Industrial (NYSE:GIC)

Millennium Management LLC lowered its stake in Global Industrial (NYSE:GIC) by 71.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,650 shares of the company’s stock after selling 80,620 shares during the period. Millennium Management LLC owned approximately 0.08% of Global Industrial worth $785,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. 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 acquiring an additional 1,206 shares during the period. New Age Alpha Advisors LLC bought a new position in Global Industrial during the 4th quarter valued at about $50,000. Quantbot Technologies LP raised its position in Global Industrial by 150.3% in the 4th quarter. Quantbot Technologies LP now owns 3,614 shares of the company’s stock worth $90,000 after purchasing an additional 2,170 shares during the period. Wells Fargo & Company MN lifted its stake in Global Industrial by 44.4% in the fourth quarter. Wells Fargo & Company MN now owns 7,058 shares of the company’s stock worth $175,000 after purchasing an additional 2,170 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Global Industrial by 13.6% in the fourth quarter. MetLife Investment Management LLC now owns 8,215 shares of the company’s stock worth $204,000 after purchasing an additional 982 shares during the last quarter. 31.19% of the stock is owned by institutional investors.

Global Industrial Stock Performance

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

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.35 EPS for the quarter, beating the consensus estimate 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. As a group, analysts predict that Global Industrial will post 1.59 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.84%. The ex-dividend date was Monday, May 12th. Global Industrial’s dividend payout ratio is presently 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.