Teacher Retirement System of Texas Cuts Stake in Global Industrial Company (NYSE:GIC)

Teacher Retirement System of Texas reduced its stake in Global Industrial Company (NYSE:GIC) by 18.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 13,427 shares of the company’s stock after selling 3,099 shares during the quarter. Teacher Retirement System of Texas’ holdings in Global Industrial were worth $301,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its holdings in Global Industrial by 340.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company’s stock valued at $39,000 after purchasing an additional 1,206 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Global Industrial during the fourth quarter valued at about $50,000. GAMMA Investing LLC lifted its holdings in Global Industrial by 1,600.0% during the first quarter. GAMMA Investing LLC now owns 2,397 shares of the company’s stock valued at $54,000 after purchasing an additional 2,256 shares during the last quarter. Quantbot Technologies LP lifted its holdings in Global Industrial by 150.3% during the fourth quarter. Quantbot Technologies LP now owns 3,614 shares of the company’s stock valued at $90,000 after purchasing an additional 2,170 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Global Industrial by 44.4% during the fourth quarter. Wells Fargo & Company MN now owns 7,058 shares of the company’s stock valued at $175,000 after purchasing an additional 2,170 shares during the last quarter. 31.19% of the stock is owned by hedge funds and other institutional investors.

Global Industrial Stock Down 0.2%

NYSE GIC opened at $26.94 on Friday. The company has a market cap of $1.03 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.00 and a beta of 0.80. Global Industrial Company has a 52 week low of $20.79 and a 52 week high of $36.17. The firm’s 50-day simple moving average is $27.08 and its two-hundred day simple moving average is $24.80.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.15. Global Industrial had a net margin of 4.67% and a return on equity of 21.85%. The firm had revenue of $321.00 million for the quarter, compared to the consensus estimate of $307.15 million. As a group, equities research analysts anticipate that Global Industrial Company will post 1.59 EPS for the current year.

Global Industrial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 12th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend was Monday, May 12th. 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.