King Luther Capital Management Corp Sells 9,347 Shares of Global Industrial (NYSE:GIC)

King Luther Capital Management Corp cut its stake in shares of Global Industrial (NYSE:GIC) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 336,398 shares of the company’s stock after selling 9,347 shares during the period. King Luther Capital Management Corp’s holdings in Global Industrial were worth $10,549,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Global Industrial by 137.3% during the 1st quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock worth $32,118,000 after purchasing an additional 414,924 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in Global Industrial during the first quarter worth about $3,824,000. Denali Advisors LLC grew its holdings in Global Industrial by 44.5% during the second quarter. Denali Advisors LLC now owns 57,122 shares of the company’s stock worth $1,791,000 after purchasing an additional 17,600 shares during the period. Price T Rowe Associates Inc. MD increased its position in Global Industrial by 3.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company’s stock worth $576,000 after buying an additional 459 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in Global Industrial in the second quarter valued at approximately $1,017,000. 31.19% of the stock is currently owned by institutional investors.

Global Industrial Trading Down 1.9 %

Shares of NYSE GIC opened at $33.22 on Friday. The company has a market capitalization of $1.27 billion, a P/E ratio of 18.05, a P/E/G ratio of 1.00 and a beta of 0.83. Global Industrial has a 12 month low of $30.13 and a 12 month high of $46.97. The stock has a 50 day moving average of $33.09 and a 200-day moving average of $36.17.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. Global Industrial had a return on equity of 26.82% and a net margin of 5.16%. The business had revenue of $347.80 million during the quarter, compared to the consensus estimate of $348.84 million. During the same quarter last year, the firm posted $0.56 EPS. Analysts predict that Global Industrial will post 1.97 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 3.01%. Global Industrial’s dividend payout ratio (DPR) 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.