Mawer Investment Management Ltd. Trims Holdings in Global Industrial (NYSE:GIC)

Mawer Investment Management Ltd. trimmed its position in Global Industrial (NYSE:GIC) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,826,970 shares of the company’s stock after selling 4,900 shares during the quarter. Mawer Investment Management Ltd. owned about 4.78% of Global Industrial worth $62,062,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Copeland Capital Management LLC purchased a new position in shares of Global Industrial in the third quarter valued at $61,000. Point72 Asset Management L.P. raised its holdings in shares of 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 acquiring an additional 2,249 shares in the last quarter. National Bank of Canada FI grew its stake in 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 during the last quarter. The Manufacturers Life Insurance Company grew its stake in 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 purchasing an additional 919 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Global Industrial in the second quarter valued at about $268,000. 31.19% of the stock is owned by hedge funds and other institutional investors.

Global Industrial Trading Down 0.6 %

Shares of GIC stock traded down $0.17 during trading hours on Monday, reaching $26.97. 1,363 shares of the company’s stock were exchanged, compared to its average volume of 79,395. Global Industrial has a 1 year low of $25.00 and a 1 year high of $46.97. The stock has a market cap of $1.03 billion, a PE ratio of 15.96, a PEG ratio of 1.05 and a beta of 0.86. The stock’s fifty day moving average price is $31.75 and its two-hundred day moving average price is $32.73.

Global Industrial (NYSE:GIC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.14). The firm had revenue of $342.40 million for the quarter, compared to analysts’ expectations 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 firm posted $0.54 earnings per share. On average, equities analysts expect that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Monday, November 11th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.71%. The ex-dividend date is Friday, November 8th. Global Industrial’s payout ratio is 58.82%.

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.