Arizona State Retirement System Takes Position in Global Industrial (NYSE:GIC)

Arizona State Retirement System purchased a new stake in shares of Global Industrial (NYSE:GIC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,316 shares of the company’s stock, valued at approximately $206,000.

A number of other institutional investors have also recently made changes to their positions in the company. LVZ Inc. raised its stake in shares of Global Industrial by 6.7% during the 4th quarter. LVZ Inc. now owns 8,269 shares of the company’s stock valued at $321,000 after purchasing an additional 518 shares during the period. SG Americas Securities LLC raised its stake in shares of Global Industrial by 45.5% during the 4th quarter. SG Americas Securities LLC now owns 4,447 shares of the company’s stock valued at $173,000 after purchasing an additional 1,390 shares during the period. American Century Companies Inc. raised its stake in shares of Global Industrial by 122.4% during the 3rd quarter. American Century Companies Inc. now owns 61,972 shares of the company’s stock valued at $2,076,000 after purchasing an additional 34,112 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Global Industrial during the 3rd quarter valued at $201,000. Finally, Sei Investments Co. raised its stake in shares of Global Industrial by 9.0% during the 3rd quarter. Sei Investments Co. now owns 25,785 shares of the company’s stock valued at $864,000 after purchasing an additional 2,128 shares during the period. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Global Industrial Stock Performance

NYSE:GIC opened at $40.52 on Monday. Global Industrial has a 52-week low of $20.52 and a 52-week high of $46.97. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 1.25 and a beta of 0.88. The business’s fifty day moving average is $44.16 and its 200 day moving average is $39.66.

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

Global Industrial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 11th were paid a $0.25 dividend. This is a positive change from Global Industrial’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date was Friday, March 8th. Global Industrial’s dividend payout ratio is currently 54.05%.

Insiders Place Their Bets

In other Global Industrial news, Vice Chairman Bruce Leeds sold 380,000 shares of the company’s 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 directly owns 139,800 shares in the company, valued at approximately $5,752,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 66.34% of the company’s stock.

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.