Global Industrial (NYSE:GIC) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its position in Global Industrial (NYSE:GIC) by 48.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,019 shares of the company’s stock after selling 6,636 shares during the quarter. Advisors Asset Management Inc.’s holdings in Global Industrial were worth $238,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GIC. Copeland Capital Management LLC purchased a new position in Global Industrial in the third quarter valued at $61,000. Point72 Asset Management L.P. boosted its position in shares of Global Industrial by 173.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock worth $111,000 after acquiring an additional 2,249 shares in the last quarter. 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. The Manufacturers Life Insurance Company raised its position 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 in the last quarter. Finally, Quest Partners LLC purchased a new stake in Global Industrial during the second quarter worth approximately $268,000. 31.19% of the stock is owned by hedge funds and other institutional investors.

Global Industrial Stock Up 0.5 %

Shares of Global Industrial stock opened at $28.49 on Friday. Global Industrial has a 52 week low of $25.00 and a 52 week high of $46.97. The firm’s 50 day moving average is $31.07 and its two-hundred day moving average is $32.34. 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.

Global Industrial (NYSE:GIC) last posted its earnings results on Tuesday, October 29th. The company reported $0.44 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 during the quarter, compared to analysts’ expectations of $353.44 million. During the same period last year, the business earned $0.54 earnings per share. As a group, research analysts expect that Global Industrial will post 1.62 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

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