The Manufacturers Life Insurance Company Increases Stake in Global Industrial (NYSE:GIC)

The Manufacturers Life Insurance Company grew its position in shares of Global Industrial (NYSE:GIC) by 12.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,022 shares of the company’s stock after buying an additional 919 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Global Industrial were worth $252,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of 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 during the period. Hillsdale Investment Management Inc. acquired a new position in shares of Global Industrial during the 1st quarter worth $3,824,000. Mawer Investment Management Ltd. grew its stake in shares of Global Industrial by 3.2% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,002,426 shares of the company’s stock worth $89,669,000 after purchasing an additional 62,777 shares during the period. Millennium Management LLC grew its stake in shares of Global Industrial by 79.4% during the 2nd quarter. Millennium Management LLC now owns 126,107 shares of the company’s stock worth $3,955,000 after purchasing an additional 55,801 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in shares of Global Industrial during the 2nd quarter worth $1,017,000. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Global Industrial Stock Up 0.7 %

NYSE:GIC opened at $34.91 on Friday. 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 cap of $1.33 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.05 and a beta of 0.83. The firm’s fifty day simple moving average is $32.90 and its 200-day simple moving average is $34.49.

Global Industrial (NYSE:GIC) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. The firm had revenue of $347.80 million for the quarter, compared to analysts’ expectations of $348.84 million. Global Industrial had a net margin of 5.16% and a return on equity of 26.82%. During the same period in the prior year, the company earned $0.56 EPS. Equities analysts anticipate that Global Industrial will post 1.94 earnings per share for the current year.

Global Industrial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 2.86%. Global Industrial’s payout ratio 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.