Laurus Investment Counsel Inc. Trims Holdings in Global Industrial (NYSE:GIC)

Laurus Investment Counsel Inc. lessened its holdings in Global Industrial (NYSE:GIC) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,760 shares of the company’s stock after selling 4,180 shares during the period. Global Industrial makes up 1.5% of Laurus Investment Counsel Inc.’s investment portfolio, making the stock its 18th largest position. Laurus Investment Counsel Inc. owned 0.21% of Global Industrial worth $3,098,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in shares of Global Industrial by 122.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,015 shares of the company’s stock valued at $27,000 after purchasing an additional 559 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Global Industrial by 116.1% in the 1st quarter. Citigroup Inc. now owns 1,113 shares of the company’s stock valued at $30,000 after buying an additional 598 shares during the period. Royal Bank of Canada raised its holdings in shares of Global Industrial by 155.1% in the 3rd quarter. Royal Bank of Canada now owns 2,008 shares of the company’s stock valued at $54,000 after buying an additional 1,221 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Global Industrial in the 2nd quarter valued at $64,000. Finally, Lazard Asset Management LLC raised its holdings in shares of Global Industrial by 107.9% in the 4th quarter. Lazard Asset Management LLC now owns 2,958 shares of the company’s stock valued at $69,000 after buying an additional 1,535 shares during the period. Institutional investors and hedge funds own 31.19% of the company’s stock.

Insiders Place Their Bets

In other news, Vice Chairman Bruce Leeds sold 380,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $41.15, for a total value of $15,637,000.00. Following the transaction, the insider now owns 139,800 shares in the company, valued at approximately $5,752,770. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 66.34% of the stock is owned by company insiders.

Global Industrial Trading Down 0.3 %

GIC stock opened at $44.99 on Thursday. The company has a market capitalization of $1.72 billion, a PE ratio of 24.32, a P/E/G ratio of 1.39 and a beta of 0.88. Global Industrial has a 12-month low of $20.52 and a 12-month high of $46.97. The business’s fifty day moving average price is $43.77 and its 200 day moving average price is $38.37.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. Global Industrial had a return on equity of 29.76% and a net margin of 5.55%. The firm had revenue of $320.10 million for the quarter, compared to the consensus estimate of $313.50 million. Research analysts predict that Global Industrial will post 2.03 EPS for the current fiscal year.

Global Industrial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 11th were issued a dividend of $0.25 per share. This is an increase from Global Industrial’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, March 8th. This represents a $1.00 annualized dividend and a yield of 2.22%. Global Industrial’s dividend payout ratio is 54.05%.

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.