Jacobs Levy Equity Management Inc. Cuts Stock Position in Global Industrial (NYSE:GIC)

Jacobs Levy Equity Management Inc. trimmed its stake in shares of Global Industrial (NYSE:GIC) by 62.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,052 shares of the company’s stock after selling 33,575 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Global Industrial were worth $681,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its position in shares of Global Industrial by 3.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company’s stock valued at $576,000 after buying an additional 459 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in Global Industrial by 7.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 62,583 shares of the company’s stock valued at $1,963,000 after acquiring an additional 4,448 shares during the last quarter. Rhumbline Advisers lifted its stake in Global Industrial by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock worth $619,000 after purchasing an additional 397 shares in the last quarter. National Bank of Canada FI grew its position in shares of Global Industrial by 41.8% in the second quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock valued at $153,000 after purchasing an additional 1,472 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Global Industrial by 17.9% in the second quarter. Acadian Asset Management LLC now owns 20,088 shares of the company’s stock valued at $629,000 after purchasing an additional 3,048 shares during the last quarter. Institutional investors and hedge funds own 31.19% of the company’s stock.

Global Industrial Stock Up 1.5 %

Shares of NYSE:GIC opened at $27.95 on Tuesday. The business has a fifty day moving average of $30.15 and a two-hundred day moving average of $31.93. The stock has a market cap of $1.07 billion, a P/E ratio of 16.44, a PEG ratio of 1.07 and a beta of 0.86. Global Industrial has a 52-week low of $25.00 and a 52-week high of $46.97.

Global Industrial (NYSE:GIC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.14). The firm had revenue of $342.40 million during the quarter, compared to analysts’ expectations of $353.44 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. During the same period last year, the company earned $0.54 EPS. On average, equities analysts anticipate that Global Industrial will post 1.62 earnings per share for the current year.

Global Industrial Announces Dividend

The firm also recently announced 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 3.58%. Global Industrial’s dividend payout ratio is currently 58.82%.

Insider Activity at Global Industrial

In other news, Vice Chairman Bruce Leeds sold 5,840 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total transaction of $165,155.20. Following the completion of the transaction, the insider now directly owns 23,675 shares in the company, valued at $669,529. This trade represents a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 65.30% of the stock is owned by insiders.

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.