Hsbc Holdings PLC Sells 14,847 Shares of Global Industrial (NYSE:GIC)

Hsbc Holdings PLC trimmed its holdings in Global Industrial (NYSE:GIC - Free Report) by 35.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,649 shares of the company's stock after selling 14,847 shares during the period. Hsbc Holdings PLC owned approximately 0.07% of Global Industrial worth $830,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Global Industrial by 137.3% in the 1st quarter. Vanguard Group Inc. now owns 717,231 shares of the company's stock valued at $32,118,000 after buying an additional 414,924 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in Global Industrial in the 1st quarter valued at approximately $3,824,000. Edgestream Partners L.P. bought a new position in Global Industrial in the 2nd quarter valued at $1,017,000. Denali Advisors LLC boosted its holdings in Global Industrial by 44.5% in the 2nd quarter. Denali Advisors LLC now owns 57,122 shares of the company's stock valued at $1,791,000 after purchasing an additional 17,600 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Global Industrial by 3.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company's stock valued at $576,000 after purchasing an additional 459 shares during the period. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

Global Industrial Price Performance

Shares of NYSE:GIC opened at $34.00 on Monday. The firm has a fifty day moving average price of $33.06 and a two-hundred day moving average price of $35.58. Global Industrial has a one year low of $30.13 and a one year high of $46.97. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.07 and a beta of 0.83.

Global Industrial (NYSE:GIC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Global Industrial had a net margin of 5.16% and a return on equity of 26.82%. The firm had revenue of $347.80 million during the quarter, compared to the consensus estimate of $348.84 million. During the same period last year, the firm earned $0.56 EPS. Equities research analysts expect that Global Industrial will post 1.97 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.94%. The ex-dividend date was Friday, August 9th. Global Industrial's payout ratio is 54.35%.

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.