Charles Schwab Investment Management Inc. Increases Position in Global Industrial (NYSE:GIC)

Charles Schwab Investment Management Inc. increased its stake in Global Industrial (NYSE:GIC) by 0.4% in the 3rd quarter, Holdings Channel reports. The fund owned 120,803 shares of the company’s stock after buying an additional 456 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Global Industrial were worth $4,104,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIC. Panagora Asset Management Inc. grew its position in Global Industrial by 7.7% in the second quarter. Panagora Asset Management Inc. now owns 62,583 shares of the company’s stock worth $1,963,000 after acquiring an additional 4,448 shares in the last quarter. Rhumbline Advisers boosted its position in Global Industrial by 2.1% during the second quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock valued at $619,000 after buying an additional 397 shares during the period. National Bank of Canada FI boosted its position in Global Industrial by 41.8% during the second quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock valued at $153,000 after buying an additional 1,472 shares during the period. Acadian Asset Management LLC raised its stake in shares of Global Industrial by 17.9% during the second quarter. Acadian Asset Management LLC now owns 20,088 shares of the company’s stock valued at $629,000 after acquiring an additional 3,048 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Global Industrial during the second quarter valued at about $268,000. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Vice Chairman Bruce Leeds sold 5,840 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total value of $165,155.20. Following the completion of the transaction, the insider now directly owns 23,675 shares of the company’s stock, valued at $669,529. This represents a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 65.30% of the company’s stock.

Global Industrial Trading Down 2.2 %

Shares of NYSE:GIC opened at $27.00 on Friday. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.07 and a beta of 0.86. The company has a 50-day moving average price of $29.70 and a 200-day moving average price of $31.76. Global Industrial has a 12 month low of $25.00 and a 12 month high of $46.97.

Global Industrial (NYSE:GIC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.14). The firm had revenue of $342.40 million for the quarter, compared to the consensus estimate of $353.44 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. During the same period last year, the company posted $0.54 earnings per share. As a group, research analysts forecast that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Friday, November 8th. Global Industrial’s dividend payout ratio (DPR) is 58.82%.

Global Industrial Company 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.