Geode Capital Management LLC Acquires 10,601 Shares of Global Industrial (NYSE:GIC)

Geode Capital Management LLC boosted its holdings in shares of Global Industrial (NYSE:GIC) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 316,083 shares of the company’s stock after purchasing an additional 10,601 shares during the quarter. Geode Capital Management LLC’s holdings in Global Industrial were worth $10,740,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC boosted its position in shares of Global Industrial by 14.7% in the third quarter. FMR LLC now owns 2,534,156 shares of the company’s stock valued at $86,085,000 after acquiring an additional 325,555 shares during the period. Edgestream Partners L.P. acquired a new position in Global Industrial during the 2nd quarter valued at $1,017,000. Millennium Management LLC boosted its holdings in Global Industrial by 79.4% in the 2nd quarter. Millennium Management LLC now owns 126,107 shares of the company’s stock valued at $3,955,000 after purchasing an additional 55,801 shares during the period. Denali Advisors LLC grew its position in Global Industrial by 44.5% in the 2nd 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 last quarter. Finally, State Street Corp increased its holdings in shares of Global Industrial by 2.6% during the 3rd quarter. State Street Corp now owns 315,779 shares of the company’s stock worth $10,727,000 after purchasing an additional 8,136 shares during the period. Institutional investors and hedge funds own 31.19% of the company’s stock.

Insiders Place Their Bets

In other news, Vice Chairman Bruce Leeds sold 5,840 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 approximately $669,529. This represents a 19.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 65.30% of the company’s stock.

Global Industrial Stock Performance

Shares of GIC opened at $24.79 on Wednesday. The company has a 50-day simple moving average of $27.94 and a 200-day simple moving average of $31.08. Global Industrial has a 52 week low of $24.28 and a 52 week high of $46.97. The firm has a market capitalization of $947.75 million, a P/E ratio of 14.58, a P/E/G ratio of 1.07 and a beta of 0.86.

Global Industrial (NYSE:GIC) last posted 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). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The firm had revenue of $342.40 million during the quarter, compared to analyst estimates of $353.44 million. During the same period last year, the company earned $0.54 EPS. As a group, equities analysts forecast that Global Industrial will post 1.62 earnings per share for the current year.

Global Industrial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 4.03%. Global Industrial’s dividend payout ratio (DPR) is currently 58.82%.

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.