AQR Capital Management LLC Sells 2,833 Shares of Global Industrial (NYSE:GIC)

AQR Capital Management LLC decreased its holdings in shares of Global Industrial (NYSE:GIC) by 5.4% in the second quarter, Holdings Channel reports. The firm owned 49,800 shares of the company’s stock after selling 2,833 shares during the quarter. AQR Capital Management LLC’s holdings in Global Industrial were worth $1,562,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GIC. National Bank of Canada FI raised its position in Global Industrial by 41.8% in the 2nd quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock worth $153,000 after purchasing an additional 1,472 shares during the last quarter. Leeward Financial Partners LLC bought a new position in Global Industrial in the 1st quarter worth approximately $224,000. Quest Partners LLC bought a new position in Global Industrial in the 2nd quarter worth approximately $268,000. Gallacher Capital Management LLC bought a new position in Global Industrial in the 1st quarter worth approximately $324,000. Finally, Quadrature Capital Ltd raised its position in Global Industrial by 14.2% in the 1st quarter. Quadrature Capital Ltd now owns 8,918 shares of the company’s stock worth $399,000 after purchasing an additional 1,106 shares during the last quarter. Institutional investors own 31.19% of the company’s stock.

Global Industrial Price Performance

GIC stock opened at $32.18 on Friday. The company has a 50 day moving average price of $32.70 and a 200 day moving average price of $34.94. Global Industrial has a fifty-two week low of $30.13 and a fifty-two week high of $46.97. The stock has a market capitalization of $1.23 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 1.07 and a beta of 0.83.

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, July 30th. The company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. Global Industrial had a net margin of 5.16% and a return on equity of 26.82%. The firm had revenue of $347.80 million during the quarter, compared to analyst estimates of $348.84 million. During the same quarter in the previous year, the business earned $0.56 EPS. As a group, equities analysts expect that Global Industrial will post 1.97 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Friday, August 9th. Global Industrial’s dividend payout ratio (DPR) is 54.35%.

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.