Global Industrial (NYSE:GIC) Shares Acquired by State Street Corp

State Street Corp increased its holdings in shares of Global Industrial (NYSE:GIC) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 315,779 shares of the company’s stock after acquiring an additional 8,136 shares during the period. State Street Corp owned approximately 0.83% of Global Industrial worth $10,727,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GIC. FMR LLC boosted its stake in shares of Global Industrial by 14.7% during the 3rd quarter. FMR LLC now owns 2,534,156 shares of the company’s stock worth $86,085,000 after acquiring an additional 325,555 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Global Industrial during the second quarter worth $1,017,000. Millennium Management LLC boosted its position in Global Industrial by 79.4% during the second 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 in the last quarter. Denali Advisors LLC grew its holdings in Global Industrial by 44.5% in the second quarter. Denali Advisors LLC now owns 57,122 shares of the company’s stock valued at $1,791,000 after purchasing an additional 17,600 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Global Industrial in the second quarter valued at $268,000. Institutional investors and hedge funds own 31.19% of the company’s stock.

Global Industrial Stock Down 0.8 %

Global Industrial stock opened at $25.28 on Friday. The firm has a market capitalization of $966.48 million, a PE ratio of 14.87, a P/E/G ratio of 1.07 and a beta of 0.86. Global Industrial has a 52 week low of $24.65 and a 52 week high of $46.97. The firm’s 50-day simple moving average is $28.33 and its 200 day simple moving average is $31.23.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results 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 business had revenue of $342.40 million during the quarter, compared to analysts’ expectations of $353.44 million. During the same period last year, the company earned $0.54 EPS. On average, research analysts expect that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend was Friday, November 8th. Global Industrial’s dividend payout ratio (DPR) is presently 58.82%.

Insiders Place Their Bets

In other Global Industrial news, Vice Chairman Bruce Leeds sold 5,840 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total transaction of $165,155.20. Following the transaction, the insider now owns 23,675 shares of the company’s stock, valued at $669,529. This represents a 19.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 65.30% of the stock is currently owned by company insiders.

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.