Semanteon Capital Management LP Buys New Shares in Global Industrial (NYSE:GIC)

Semanteon Capital Management LP purchased a new position in Global Industrial (NYSE:GIC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,846 shares of the company’s stock, valued at approximately $219,000.

Several other institutional investors have also added to or reduced their stakes in GIC. FMR LLC lifted its stake in shares of Global Industrial by 14.7% in the 3rd quarter. FMR LLC now owns 2,534,156 shares of the company’s stock valued at $86,085,000 after acquiring an additional 325,555 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Global Industrial by 65.6% during the 4th quarter. Bank of New York Mellon Corp now owns 319,282 shares of the company’s stock valued at $7,915,000 after buying an additional 126,431 shares during the last quarter. Geode Capital Management LLC boosted its position in Global Industrial by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock valued at $10,740,000 after buying an additional 10,601 shares during the period. State Street Corp boosted 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. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of Global Industrial by 101.9% in 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 last quarter. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

Global Industrial Price Performance

GIC opened at $22.48 on Friday. Global Industrial has a one year low of $22.09 and a one year high of $45.80. The business has a 50 day simple moving average of $24.03 and a two-hundred day simple moving average of $27.54. The firm has a market capitalization of $861.04 million, a price-to-earnings ratio of 13.22, a PEG ratio of 0.93 and a beta of 0.85.

Global Industrial (NYSE:GIC) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The company had revenue of $302.30 million for the quarter, compared to analysts’ expectations of $306.07 million. As a group, sell-side analysts expect that Global Industrial will post 1.59 EPS for the current fiscal year.

Global Industrial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.26 per share. This is an increase from Global Industrial’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.63%. Global Industrial’s dividend payout ratio is 66.24%.

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.