State Street Corp Has $10.73 Million Stock Holdings in Global Industrial (NYSE:GIC)

State Street Corp grew its stake in shares of Global Industrial (NYSE:GIC) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 315,779 shares of the company’s stock after acquiring an additional 8,136 shares during the period. State Street Corp’s holdings in Global Industrial were worth $10,727,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GIC. Rhumbline Advisers raised 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 acquiring an additional 397 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Global Industrial by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 120,803 shares of the company’s stock valued at $4,104,000 after purchasing an additional 456 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Global Industrial by 9.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,808 shares of the company’s stock valued at $299,000 after purchasing an additional 786 shares during the last quarter. National Bank of Canada FI boosted its holdings in Global Industrial by 41.8% in the second 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 in the last quarter. Finally, Sei Investments Co. increased its position in Global Industrial by 7.5% during the second quarter. Sei Investments Co. now owns 22,124 shares of the company’s stock worth $694,000 after buying an additional 1,545 shares during the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Vice Chairman Bruce Leeds sold 5,840 shares of the firm’s stock in a transaction 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 $669,529. This trade represents a 19.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 65.30% of the company’s stock.

Global Industrial Price Performance

Shares of NYSE:GIC opened at $25.28 on Friday. The stock has a market capitalization of $966.48 million, a P/E ratio of 14.87, a P/E/G ratio of 1.07 and a beta of 0.86. The business has a 50-day moving average of $28.33 and a two-hundred day moving average of $31.23. Global Industrial has a fifty-two week low of $24.65 and a fifty-two week high of $46.97.

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

Global Industrial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 3.96%. Global Industrial’s payout ratio is presently 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.