Hsbc Holdings PLC Sells 14,847 Shares of Global Industrial (NYSE:GIC)

Hsbc Holdings PLC lessened its stake in shares of Global Industrial (NYSE:GIC) by 35.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,649 shares of the company’s stock after selling 14,847 shares during the period. Hsbc Holdings PLC owned approximately 0.07% of Global Industrial worth $830,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in Global Industrial by 2.1% in the second quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock worth $619,000 after buying an additional 397 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Global Industrial by 3.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company’s stock worth $576,000 after acquiring an additional 459 shares during the last quarter. Quadrature Capital Ltd boosted its stake in Global Industrial by 14.2% during the 1st quarter. Quadrature Capital Ltd now owns 8,918 shares of the company’s stock valued at $399,000 after purchasing an additional 1,106 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Global Industrial by 41.8% in the 2nd quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock worth $153,000 after purchasing an additional 1,472 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Global Industrial by 17.9% in the second quarter. Acadian Asset Management LLC now owns 20,088 shares of the company’s stock worth $629,000 after purchasing an additional 3,048 shares during the last quarter. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Global Industrial Price Performance

Global Industrial stock opened at $34.00 on Monday. Global Industrial has a one year low of $30.13 and a one year high of $46.97. The business’s fifty day moving average is $33.06 and its 200 day moving average is $35.58. The stock has a market capitalization of $1.30 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 1.07 and a beta of 0.83.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. The firm had revenue of $347.80 million during the quarter, compared to analyst estimates of $348.84 million. Global Industrial had a net margin of 5.16% and a return on equity of 26.82%. During the same period in the previous year, the business posted $0.56 earnings per share. As a group, sell-side analysts expect that Global Industrial will post 1.97 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 2.94%. Global Industrial’s payout ratio is 54.35%.

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.