Global Industrial (NYSE:GIC) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its holdings in Global Industrial (NYSE:GIC) by 47.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,314 shares of the company’s stock after selling 7,450 shares during the period. Franklin Resources Inc.’s holdings in Global Industrial were worth $277,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Copeland Capital Management LLC acquired a new position in Global Industrial in the third quarter valued at about $61,000. Point72 Asset Management L.P. lifted its holdings in shares of Global Industrial by 173.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock worth $111,000 after acquiring an additional 2,249 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Global Industrial by 41.8% during 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 during the period. The Manufacturers Life Insurance Company boosted its position in shares of Global Industrial by 12.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock worth $252,000 after purchasing an additional 919 shares during the period. Finally, Quest Partners LLC acquired a new stake in Global Industrial in the 2nd quarter valued at approximately $268,000. Institutional investors and hedge funds own 31.19% of the company’s stock.

Insider Activity at Global Industrial

In related news, Vice Chairman Bruce Leeds sold 5,840 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 23,675 shares in the company, valued at $669,529. This trade represents a 19.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 65.30% of the stock is currently owned by corporate insiders.

Global Industrial Trading Up 0.3 %

Shares of NYSE GIC opened at $24.79 on Thursday. The stock has a market capitalization of $947.75 million, a PE ratio of 14.58, a PEG ratio of 1.07 and a beta of 0.86. Global Industrial has a twelve month low of $24.28 and a twelve month high of $46.97. The stock has a fifty day simple moving average of $27.76 and a 200-day simple moving average of $31.02.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). The company had revenue of $342.40 million for the quarter, compared to analysts’ expectations of $353.44 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. During the same period in the prior year, the company posted $0.54 EPS. On average, equities analysts predict that Global Industrial will post 1.62 earnings per share for the current year.

Global Industrial Dividend Announcement

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