Global Industrial (NYSE:GIC) Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC reduced its holdings in shares of Global Industrial (NYSE:GIC) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 78,527 shares of the company’s stock after selling 1,000 shares during the period. Ingalls & Snyder LLC’s holdings in Global Industrial were worth $2,668,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GIC. Copeland Capital Management LLC purchased a new stake in shares of Global Industrial during the third quarter worth $61,000. Point72 Asset Management L.P. increased its holdings in Global Industrial by 173.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock worth $111,000 after purchasing an additional 2,249 shares during the period. National Bank of Canada FI increased its holdings in Global Industrial by 41.8% during the 2nd quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock worth $153,000 after purchasing an additional 1,472 shares during the period. The Manufacturers Life Insurance Company raised its position in Global Industrial by 12.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock valued at $252,000 after purchasing an additional 919 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Global Industrial in the 3rd quarter valued at about $281,000. 31.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Global Industrial news, Vice Chairman Bruce Leeds sold 5,840 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total transaction of $165,155.20. Following the transaction, 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 SEC, which is available at the SEC website. 65.30% of the stock is owned by company insiders.

Global Industrial Price Performance

Shares of GIC stock traded down $0.17 during trading hours on Tuesday, reaching $27.61. 1,687 shares of the stock were exchanged, compared to its average volume of 78,441. The business’s fifty day moving average is $30.86 and its two-hundred day moving average is $32.24. The firm has a market capitalization of $1.06 billion, a P/E ratio of 16.34, a P/E/G ratio of 1.09 and a beta of 0.86. Global Industrial has a 12-month low of $25.00 and a 12-month high of $46.97.

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). The firm had revenue of $342.40 million during the quarter, compared to analyst estimates of $353.44 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. During the same quarter in the previous year, the business posted $0.54 earnings per share. As a group, equities research analysts predict that Global Industrial will post 1.62 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Friday, November 8th. Global Industrial’s dividend payout ratio (DPR) 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.