King Luther Capital Management Corp Has $10.55 Million Stock Holdings in Global Industrial (NYSE:GIC)

King Luther Capital Management Corp decreased its position in Global Industrial (NYSE:GIC) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 336,398 shares of the company’s stock after selling 9,347 shares during the period. King Luther Capital Management Corp owned approximately 0.88% of Global Industrial worth $10,549,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Global Industrial by 137.3% during the 1st quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock worth $32,118,000 after purchasing an additional 414,924 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Global Industrial during the first quarter worth $3,824,000. Mawer Investment Management Ltd. lifted its position in Global Industrial by 3.2% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,002,426 shares of the company’s stock valued at $89,669,000 after acquiring an additional 62,777 shares in the last quarter. Edgestream Partners L.P. bought a new stake in Global Industrial in the 2nd quarter valued at $1,017,000. Finally, Isthmus Partners LLC boosted its stake in Global Industrial by 38.4% in the 1st quarter. Isthmus Partners LLC now owns 96,047 shares of the company’s stock worth $4,301,000 after purchasing an additional 26,655 shares during the period. Institutional investors own 31.19% of the company’s stock.

Global Industrial Price Performance

GIC opened at $33.22 on Friday. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 1.00 and a beta of 0.83. The business’s 50-day moving average price is $33.09 and its two-hundred day moving average price is $36.17. Global Industrial has a 1 year low of $30.13 and a 1 year high of $46.97.

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

Global Industrial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.01%. The ex-dividend date was Friday, August 9th. Global Industrial’s payout ratio is 54.35%.

Global Industrial Company 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.