UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 3,205 Shares of Global Industrial (NYSE:GIC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Global Industrial (NYSE:GIC) by 9.8% during the third quarter, HoldingsChannel reports. The firm owned 29,447 shares of the company’s stock after selling 3,205 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Global Industrial were worth $1,000,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC boosted its position in Global Industrial by 14.7% in the 3rd quarter. FMR LLC now owns 2,534,156 shares of the company’s stock valued at $86,085,000 after buying an additional 325,555 shares during the period. Millennium Management LLC increased its position in shares of Global Industrial by 79.4% during the second quarter. Millennium Management LLC now owns 126,107 shares of the company’s stock worth $3,955,000 after acquiring an additional 55,801 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Global Industrial during the second quarter valued at approximately $1,017,000. Denali Advisors LLC boosted its holdings in shares of Global Industrial by 44.5% in the second quarter. Denali Advisors LLC now owns 57,122 shares of the company’s stock valued at $1,791,000 after purchasing an additional 17,600 shares during the period. Finally, Algert Global LLC grew its stake in Global Industrial by 101.2% in the second quarter. Algert Global LLC now owns 28,216 shares of the company’s stock worth $885,000 after purchasing an additional 14,190 shares in the last quarter. 31.19% of the stock is currently owned by institutional investors.

Global Industrial Stock Down 3.0 %

GIC opened at $25.38 on Thursday. Global Industrial has a 52 week low of $25.00 and a 52 week high of $46.97. The company has a market capitalization of $970.30 million, a P/E ratio of 14.93, a PEG ratio of 1.07 and a beta of 0.86. The stock’s fifty day moving average is $29.30 and its two-hundred day moving average is $31.57.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results 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 analysts’ expectations of $353.44 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. During the same quarter in the prior year, the business posted $0.54 EPS. Equities analysts anticipate that Global Industrial will post 1.62 earnings per share for the current year.

Global Industrial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend was Friday, November 8th. Global Industrial’s dividend payout ratio (DPR) is 58.82%.

Insider Activity

In other Global Industrial news, Vice Chairman Bruce Leeds sold 5,840 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total transaction of $165,155.20. Following the sale, the insider now owns 23,675 shares of the company’s stock, valued at approximately $669,529. This trade represents a 19.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 65.30% of the company’s stock.

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.