Denali Advisors LLC Has $2.66 Million Stake in Global Industrial (NYSE:GIC)

Denali Advisors LLC lifted its position in shares of Global Industrial (NYSE:GIC - Free Report) by 44.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 107,300 shares of the company's stock after buying an additional 33,000 shares during the quarter. Denali Advisors LLC owned about 0.28% of Global Industrial worth $2,660,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Global Industrial by 65.6% during the fourth quarter. Bank of New York Mellon Corp now owns 319,282 shares of the company's stock worth $7,915,000 after buying an additional 126,431 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Global Industrial by 34.6% during the fourth quarter. New York State Common Retirement Fund now owns 37,772 shares of the company's stock worth $936,000 after buying an additional 9,700 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Global Industrial by 102.0% during the fourth quarter. Rhumbline Advisers now owns 38,697 shares of the company's stock worth $959,000 after buying an additional 19,543 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Global Industrial by 26.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 11,465 shares of the company's stock worth $284,000 after buying an additional 2,364 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Global Industrial by 39.8% during the third quarter. JPMorgan Chase & Co. now owns 46,005 shares of the company's stock worth $1,563,000 after buying an additional 13,105 shares in the last quarter. Institutional investors and hedge funds own 31.19% of the company's stock.

Global Industrial Stock Up 0.6 %

Shares of GIC traded up $0.15 during midday trading on Friday, reaching $23.43. 109,219 shares of the stock were exchanged, compared to its average volume of 113,406. The company has a market cap of $895.75 million, a P/E ratio of 13.78, a PEG ratio of 0.93 and a beta of 0.87. The stock's 50 day simple moving average is $24.53 and its 200 day simple moving average is $28.61. Global Industrial has a twelve month low of $23.09 and a twelve month high of $46.97.

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

Global Industrial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Global Industrial's previous quarterly dividend of $0.25. 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.