Bank of New York Mellon Corp Boosts Position in Global Industrial (NYSE:GIC)

Bank of New York Mellon Corp lifted its position in Global Industrial (NYSE:GIC - Free Report) by 65.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 319,282 shares of the company's stock after acquiring an additional 126,431 shares during the period. Bank of New York Mellon Corp owned 0.84% of Global Industrial worth $7,915,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its stake in shares of Global Industrial by 26.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 11,465 shares of the company's stock worth $284,000 after acquiring an additional 2,364 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Global Industrial by 9.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,808 shares of the company's stock worth $299,000 after purchasing an additional 786 shares in the last quarter. New York State Common Retirement Fund grew its position in Global Industrial by 34.6% during the 4th quarter. New York State Common Retirement Fund now owns 37,772 shares of the company's stock valued at $936,000 after purchasing an additional 9,700 shares during the last quarter. Rhumbline Advisers increased its stake in Global Industrial by 102.0% during the 4th quarter. Rhumbline Advisers now owns 38,697 shares of the company's stock valued at $959,000 after purchasing an additional 19,543 shares in the last quarter. Finally, Barclays PLC raised its holdings in Global Industrial by 221.5% in the third quarter. Barclays PLC now owns 30,622 shares of the company's stock worth $1,041,000 after buying an additional 21,097 shares during the last quarter. Hedge funds and other institutional investors own 31.19% of the company's stock.

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Global Industrial Stock Down 0.3 %

Shares of NYSE GIC traded down $0.06 during midday trading on Wednesday, hitting $22.84. The stock had a trading volume of 21,075 shares, compared to its average volume of 114,185. The business's 50 day moving average is $24.12 and its 200-day moving average is $27.72. Global Industrial has a 52 week low of $22.09 and a 52 week high of $46.97. The company has a market cap of $875.02 million, a P/E ratio of 13.44, a PEG ratio of 0.93 and a beta of 0.85.

Global Industrial (NYSE:GIC - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.03). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The business had revenue of $302.30 million for the quarter, compared to analysts' expectations of $306.07 million. As a group, analysts expect that Global Industrial will post 1.59 EPS for the current fiscal year.

Global Industrial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.26 dividend. This is a positive change from Global Industrial's previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 10th. This represents a $1.04 dividend on an annualized basis and a yield of 4.55%. Global Industrial's payout ratio is 66.24%.

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.