Advisors Asset Management Inc. Trims Stock Position in Global Industrial (NYSE:GIC)

Advisors Asset Management Inc. trimmed its holdings in Global Industrial (NYSE:GIC) by 48.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 7,019 shares of the company’s stock after selling 6,636 shares during the period. Advisors Asset Management Inc.’s holdings in Global Industrial were worth $238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Copeland Capital Management LLC purchased a new position in shares of Global Industrial during the 3rd quarter worth $61,000. Point72 Asset Management L.P. increased its position in shares of Global Industrial by 173.0% during the second quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock valued at $111,000 after acquiring an additional 2,249 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Global Industrial by 41.8% in the 2nd quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock valued at $153,000 after acquiring an additional 1,472 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Global Industrial by 12.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock valued at $252,000 after acquiring an additional 919 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Global Industrial during the 2nd quarter worth approximately $268,000. Institutional investors and hedge funds own 31.19% of the company’s stock.

Global Industrial Stock Up 0.5 %

Shares of NYSE GIC opened at $28.49 on Friday. The business’s 50 day moving average is $31.07 and its two-hundred day moving average is $32.34. Global Industrial has a 52-week low of $25.00 and a 52-week high of $46.97. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.10 and a beta of 0.86.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.14). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The firm had revenue of $342.40 million during the quarter, compared to analysts’ expectations of $353.44 million. During the same quarter in the prior year, the firm posted $0.54 EPS. Analysts anticipate that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 3.51%. Global Industrial’s dividend payout ratio is presently 58.82%.

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.