Los Angeles Capital Management LLC Lowers Position in Global Industrial (NYSE:GIC)

Los Angeles Capital Management LLC decreased its stake in shares of Global Industrial (NYSE:GIC) by 54.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,243 shares of the company’s stock after selling 19,087 shares during the period. Los Angeles Capital Management LLC’s holdings in Global Industrial were worth $403,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in Global Industrial by 9.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,808 shares of the company’s stock valued at $299,000 after acquiring an additional 786 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Global Industrial by 26.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 11,465 shares of the company’s stock valued at $284,000 after purchasing an additional 2,364 shares during the last quarter. Barclays PLC lifted its position in shares of Global Industrial by 221.5% during the third quarter. Barclays PLC now owns 30,622 shares of the company’s stock valued at $1,041,000 after purchasing an additional 21,097 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Global Industrial by 34.6% during 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 position in Global Industrial by 102.0% in the 4th quarter. Rhumbline Advisers now owns 38,697 shares of the company’s stock worth $959,000 after purchasing an additional 19,543 shares in the last quarter. Institutional investors own 31.19% of the company’s stock.

Global Industrial Stock Performance

NYSE:GIC opened at $23.34 on Tuesday. Global Industrial has a 52 week low of $23.09 and a 52 week high of $46.97. The firm has a 50-day moving average price of $24.50 and a two-hundred day moving average price of $28.51. The firm has a market cap of $894.18 million, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87.

Global Industrial (NYSE:GIC) last released its 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 for the quarter, compared to the consensus estimate of $306.07 million. As a group, sell-side analysts forecast that Global Industrial will post 1.59 earnings per share for the current year.

Global Industrial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a $0.26 dividend. This is an increase from Global Industrial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.04 annualized dividend and a yield of 4.46%. Global Industrial’s dividend payout ratio 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.