Global Industrial (NYSE:GIC) Shares Bought by Fmr LLC

FMR LLC grew its position in shares of Global Industrial (NYSE:GIC - Free Report) by 14.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,534,156 shares of the company's stock after acquiring an additional 325,555 shares during the quarter. FMR LLC owned about 6.63% of Global Industrial worth $86,085,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. The Manufacturers Life Insurance Company increased its position in shares of Global Industrial by 9.8% during 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. Algert Global LLC boosted its holdings in shares of Global Industrial by 38.9% in the third quarter. Algert Global LLC now owns 39,196 shares of the company's stock valued at $1,331,000 after purchasing an additional 10,980 shares during the period. Charles Schwab Investment Management Inc. grew its position 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 worth $4,104,000 after buying an additional 456 shares in the last quarter. Copeland Capital Management LLC purchased a new position in Global Industrial during the 3rd quarter valued at about $61,000. Finally, Exchange Traded Concepts LLC bought a new position in Global Industrial in the third quarter worth approximately $309,000. 31.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Global Industrial

In other Global Industrial news, Vice Chairman Bruce Leeds sold 5,840 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total transaction of $165,155.20. Following the sale, the insider now directly owns 23,675 shares of the company's stock, valued at approximately $669,529. This trade represents a 19.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 65.30% of the company's stock.

Global Industrial Stock Performance

GIC stock traded down $0.11 during trading on Friday, reaching $27.50. 92,239 shares of the company traded hands, compared to its average volume of 78,881. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.08 and a beta of 0.86. The business has a 50 day simple moving average of $30.40 and a 200 day simple moving average of $32.08. Global Industrial has a 12 month low of $25.00 and a 12 month high of $46.97.

Global Industrial (NYSE:GIC - Get Free Report) last issued its quarterly 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 business had revenue of $342.40 million for the quarter, compared to analyst estimates of $353.44 million. During the same period in the previous year, the company posted $0.54 earnings per share. As a group, research analysts forecast that Global Industrial will post 1.62 EPS for the current year.

Global Industrial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Friday, November 8th. Global Industrial's payout ratio is 58.82%.

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.