Ingalls & Snyder LLC Cuts Position in Global Industrial (NYSE:GIC)

Ingalls & Snyder LLC trimmed its stake in shares of Global Industrial (NYSE:GIC) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,527 shares of the company’s stock after selling 1,000 shares during the period. Ingalls & Snyder LLC owned 0.21% of Global Industrial worth $2,668,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers boosted its position in Global Industrial by 2.1% during the second quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock worth $619,000 after acquiring an additional 397 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Global Industrial by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 120,803 shares of the company’s stock worth $4,104,000 after buying an additional 456 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Global Industrial by 3.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company’s stock valued at $576,000 after buying an additional 459 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Global Industrial by 9.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,808 shares of the company’s stock worth $299,000 after acquiring an additional 786 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Global Industrial by 12.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock worth $252,000 after acquiring an additional 919 shares during the period. 31.19% of the stock is currently owned by institutional investors and hedge funds.

Global Industrial Price Performance

Shares of GIC traded down $0.17 during mid-day trading on Tuesday, reaching $27.61. The stock had a trading volume of 1,687 shares, compared to its average volume of 78,441. 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 $1.06 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 1.09 and a beta of 0.86. The business’s fifty day moving average is $30.86 and its 200 day moving average is $32.24.

Global Industrial (NYSE:GIC) last posted 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). The firm had revenue of $342.40 million during the quarter, compared to analysts’ expectations of $353.44 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. During the same period last year, the company earned $0.54 EPS. As a group, sell-side analysts anticipate that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 3.62%. Global Industrial’s dividend payout ratio (DPR) is 58.82%.

Insider Buying and Selling at Global Industrial

In other Global Industrial news, Vice Chairman Bruce Leeds sold 5,840 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 23,675 shares of the company’s stock, valued at $669,529. The trade was a 19.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 65.30% of the company’s stock.

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.