Algert Global LLC Boosts Stock Position in Global Industrial (NYSE:GIC)

Algert Global LLC boosted its holdings in Global Industrial (NYSE:GIC) by 38.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,196 shares of the company’s stock after buying an additional 10,980 shares during the period. Algert Global LLC owned 0.10% of Global Industrial worth $1,331,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GIC. Vanguard Group Inc. lifted its stake in shares of Global Industrial by 137.3% in the 1st quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock valued at $32,118,000 after purchasing an additional 414,924 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 acquiring an additional 459 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Global Industrial by 7.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 62,583 shares of the company’s stock valued at $1,963,000 after acquiring an additional 4,448 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Global Industrial by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock valued at $619,000 after acquiring an additional 397 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Global Industrial by 41.8% in the 2nd quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock valued at $153,000 after acquiring an additional 1,472 shares during the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

Global Industrial Price Performance

NYSE:GIC opened at $28.49 on Friday. Global Industrial has a 12-month low of $25.00 and a 12-month high of $46.97. The firm has a market capitalization of $1.09 billion, a P/E ratio of 16.76, a P/E/G ratio of 1.10 and a beta of 0.86. The business has a 50 day simple moving average of $31.07 and a 200 day simple moving average of $32.34.

Global Industrial (NYSE:GIC) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The company had revenue of $342.40 million for the quarter, compared to analyst estimates of $353.44 million. During the same quarter in the prior year, the firm earned $0.54 EPS. Research analysts anticipate that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 3.51%. Global Industrial’s dividend payout ratio (DPR) is presently 58.82%.

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.