JPMorgan Chase & Co. Increases Stock Holdings in Global Industrial (NYSE:GIC)

JPMorgan Chase & Co. lifted its holdings in shares of Global Industrial (NYSE:GIC) by 39.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,005 shares of the company’s stock after acquiring an additional 13,105 shares during the period. JPMorgan Chase & Co. owned 0.12% of Global Industrial worth $1,563,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Barclays PLC grew its position in shares of Global Industrial by 221.5% during the third quarter. Barclays PLC now owns 30,622 shares of the company’s stock worth $1,041,000 after acquiring an additional 21,097 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Global Industrial by 3.5% during the third quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock worth $10,740,000 after acquiring an additional 10,601 shares during the last quarter. State Street Corp lifted its holdings in shares of Global Industrial by 2.6% during the third quarter. State Street Corp now owns 315,779 shares of the company’s stock worth $10,727,000 after purchasing an additional 8,136 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Global Industrial by 101.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 177,884 shares of the company’s stock worth $6,043,000 after purchasing an additional 89,780 shares during the period. Finally, FMR LLC lifted its holdings in shares of Global Industrial by 14.7% during the third quarter. FMR LLC now owns 2,534,156 shares of the company’s stock worth $86,085,000 after purchasing an additional 325,555 shares during the period. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Global Industrial news, Vice Chairman Bruce Leeds sold 5,840 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total value of $165,155.20. Following the completion of the sale, the insider now owns 23,675 shares of the company’s stock, valued at approximately $669,529. This trade represents a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 65.30% of the company’s stock.

Global Industrial Price Performance

Shares of NYSE GIC opened at $25.39 on Friday. The stock has a fifty day moving average price of $26.12 and a 200 day moving average price of $30.23. Global Industrial has a 1-year low of $23.09 and a 1-year high of $46.97. The company has a market cap of $970.47 million, a PE ratio of 14.93, a P/E/G ratio of 0.93 and a beta of 0.88.

Global Industrial (NYSE:GIC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.14). Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. The company had revenue of $342.40 million for the quarter, compared to analyst estimates of $353.44 million. During the same period in the prior year, the business earned $0.54 earnings per share. Analysts anticipate that Global Industrial will post 1.59 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Friday, November 8th. Global Industrial’s dividend payout ratio is presently 58.82%.

Global Industrial 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.