Cubist Systematic Strategies LLC Cuts Stake in Global Industrial (NYSE:GIC)

Cubist Systematic Strategies LLC reduced its stake in Global Industrial (NYSE:GIC) by 55.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 6,619 shares of the company’s stock after selling 8,127 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Global Industrial were worth $208,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mawer Investment Management Ltd. boosted its holdings in shares of Global Industrial by 3.2% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,002,426 shares of the company’s stock worth $89,669,000 after buying an additional 62,777 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Global Industrial by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,574 shares of the company’s stock worth $32,067,000 after buying an additional 6,602 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Global Industrial by 137.3% during the first quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock valued at $32,118,000 after purchasing an additional 414,924 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Global Industrial by 2.7% during the second quarter. Renaissance Technologies LLC now owns 345,174 shares of the company’s stock valued at $10,825,000 after purchasing an additional 9,200 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Global Industrial by 79.4% during the second 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 last quarter. 31.19% of the stock is owned by hedge funds and other institutional investors.

Global Industrial Stock Up 1.3 %

NYSE GIC opened at $33.29 on Tuesday. The company has a market cap of $1.27 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.05 and a beta of 0.83. Global Industrial has a 52 week low of $30.13 and a 52 week high of $46.97. The firm’s 50-day simple moving average is $32.71 and its two-hundred day simple moving average is $34.63.

Global Industrial (NYSE:GIC) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. The business had revenue of $347.80 million for the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.56 earnings per share. As a group, equities research analysts anticipate that Global Industrial will post 1.94 EPS for the current year.

Global Industrial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Friday, August 9th. Global Industrial’s dividend payout ratio is presently 54.35%.

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.