Jacobs Levy Equity Management Inc. Sells 33,575 Shares of Global Industrial (NYSE:GIC)

Jacobs Levy Equity Management Inc. reduced its stake in shares of Global Industrial (NYSE:GIC - Free Report) by 62.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,052 shares of the company's stock after selling 33,575 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.05% of Global Industrial worth $681,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Copeland Capital Management LLC acquired a new stake in shares of Global Industrial during the 3rd quarter worth approximately $61,000. Point72 Asset Management L.P. boosted its position in Global Industrial by 173.0% in the second quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company's stock valued at $111,000 after buying an additional 2,249 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Global Industrial by 41.8% during the second quarter. National Bank of Canada FI now owns 4,994 shares of the company's stock worth $153,000 after buying an additional 1,472 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Global Industrial by 12.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company's stock valued at $252,000 after acquiring an additional 919 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Global Industrial during the 2nd quarter worth approximately $268,000. 31.19% of the stock is owned by institutional investors.

Global Industrial Stock Performance

Global Industrial stock traded down $0.22 on Tuesday, reaching $27.72. The company's stock had a trading volume of 77,242 shares, compared to its average volume of 78,883. Global Industrial has a twelve month low of $25.00 and a twelve month high of $46.97. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 1.07 and a beta of 0.86. The business's fifty day moving average price is $30.03 and its 200 day moving average price is $31.88.

Global Industrial (NYSE:GIC - Get Free Report) 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). The company had revenue of $342.40 million for the quarter, compared to analyst estimates of $353.44 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. During the same quarter in the previous year, the company posted $0.54 earnings per share. As a group, equities analysts forecast that Global Industrial will post 1.62 earnings per share for the current year.

Global Industrial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 3.61%. Global Industrial's payout ratio is 58.82%.

Insider Activity

In related news, Vice Chairman Bruce Leeds sold 5,840 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total value of $165,155.20. Following the sale, the insider now directly owns 23,675 shares in the company, valued at $669,529. This trade represents a 19.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 65.30% of the company's stock.

About Global Industrial

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.