AlphaQuest LLC Sells 3,959 Shares of Global Industrial (NYSE:GIC)

AlphaQuest LLC reduced its holdings in shares of Global Industrial (NYSE:GIC) by 63.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,275 shares of the company’s stock after selling 3,959 shares during the period. AlphaQuest LLC’s holdings in Global Industrial were worth $56,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Global Industrial in the fourth quarter worth approximately $4,001,000. Denali Advisors LLC grew its holdings in shares of Global Industrial by 44.4% in the fourth quarter. Denali Advisors LLC now owns 107,300 shares of the company’s stock worth $2,660,000 after purchasing an additional 33,000 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Global Industrial by 65.6% in the fourth quarter. Bank of New York Mellon Corp now owns 319,282 shares of the company’s stock worth $7,915,000 after purchasing an additional 126,431 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Global Industrial by 34.6% in the fourth quarter. New York State Common Retirement Fund now owns 37,772 shares of the company’s stock worth $936,000 after purchasing an additional 9,700 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Global Industrial by 102.0% in the fourth quarter. Rhumbline Advisers now owns 38,697 shares of the company’s stock worth $959,000 after purchasing an additional 19,543 shares during the last quarter. 31.19% of the stock is currently owned by institutional investors.

Global Industrial Stock Performance

Shares of Global Industrial stock opened at $22.67 on Friday. Global Industrial has a 52-week low of $22.09 and a 52-week high of $46.97. The stock has a market capitalization of $868.55 million, a price-to-earnings ratio of 13.34, a P/E/G ratio of 0.93 and a beta of 0.85. The company’s 50 day moving average price is $24.05 and its 200-day moving average price is $27.65.

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

Global Industrial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.26 dividend. This is a positive change from Global Industrial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.04 dividend on an annualized basis and a yield of 4.59%. Global Industrial’s dividend payout ratio (DPR) is presently 66.24%.

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.