Summit Global Investments Purchases New Holdings in Global Industrial (NYSE:GIC)

Summit Global Investments bought a new stake in Global Industrial (NYSE:GIC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,556 shares of the company’s stock, valued at approximately $255,000.

A number of other hedge funds also recently modified their holdings of the business. Los Angeles Capital Management LLC grew its position in Global Industrial by 175.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 44,730 shares of the company’s stock valued at $1,737,000 after purchasing an additional 28,520 shares in the last quarter. CWM LLC raised its stake in shares of Global Industrial by 4,420.3% during the 4th quarter. CWM LLC now owns 9,357 shares of the company’s stock worth $363,000 after purchasing an additional 9,150 shares in the last quarter. Arizona State Retirement System acquired a new position in Global Industrial during the fourth quarter valued at approximately $206,000. LVZ Inc. raised its position in shares of Global Industrial by 6.7% in the fourth 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. Finally, SG Americas Securities LLC grew its stake in Global Industrial by 45.5% in the 4th quarter. SG Americas Securities LLC now owns 4,447 shares of the company’s stock valued at $173,000 after buying an additional 1,390 shares during the last quarter. Hedge funds and other institutional investors 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 firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $41.15, for a total transaction of $15,637,000.00. Following the completion of the sale, the insider now owns 139,800 shares of the company’s stock, valued at $5,752,770. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 65.30% of the company’s stock.

Global Industrial Stock Performance

Shares of NYSE:GIC opened at $34.93 on Tuesday. The stock’s 50-day moving average is $42.93 and its 200-day moving average is $39.97. The company has a market cap of $1.33 billion, a P/E ratio of 18.98, a P/E/G ratio of 1.11 and a beta of 0.92. Global Industrial has a 52-week low of $23.08 and a 52-week high of $46.97.

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. The business had revenue of $320.10 million for the quarter, compared to the consensus estimate of $313.50 million. Global Industrial had a net margin of 5.34% and a return on equity of 28.39%. As a group, equities analysts predict that Global Industrial will post 1.96 EPS for the current year.

Global Industrial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be paid a $0.25 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.00 annualized dividend and a dividend yield of 2.86%. Global Industrial’s dividend payout ratio is currently 54.35%.

Global Industrial Profile

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.