Charles Schwab Investment Management Inc. Sells 3,785 Shares of Global Industrial (NYSE:GIC)

Charles Schwab Investment Management Inc. reduced its stake in shares of Global Industrial (NYSE:GIC) by 3.1% during the fourth quarter, Holdings Channel reports. The firm owned 117,018 shares of the company’s stock after selling 3,785 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Global Industrial were worth $2,901,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its stake in Global Industrial by 9.8% in the third quarter. The Manufacturers Life Insurance Company now owns 8,808 shares of the company’s stock worth $299,000 after buying an additional 786 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Global Industrial by 26.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 11,465 shares of the company’s stock worth $284,000 after acquiring an additional 2,364 shares during the period. Barclays PLC raised its position in shares of Global Industrial by 221.5% in the 3rd quarter. Barclays PLC now owns 30,622 shares of the company’s stock worth $1,041,000 after acquiring an additional 21,097 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of Global Industrial by 34.6% in the 4th quarter. New York State Common Retirement Fund now owns 37,772 shares of the company’s stock valued at $936,000 after purchasing an additional 9,700 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Global Industrial by 102.0% during the fourth quarter. Rhumbline Advisers now owns 38,697 shares of the company’s stock valued at $959,000 after purchasing an additional 19,543 shares in the last quarter. 31.19% of the stock is currently owned by institutional investors.

Global Industrial Trading Up 0.8 %

GIC opened at $23.24 on Friday. Global Industrial has a 12-month low of $22.09 and a 12-month high of $45.69. The company has a market cap of $890.35 million, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 0.93 and a beta of 0.85. The stock has a fifty day simple moving average of $23.90 and a two-hundred day simple moving average of $27.33.

Global Industrial (NYSE:GIC) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The business had revenue of $302.30 million for the quarter, compared to analysts’ expectations of $306.07 million. On average, analysts predict that Global Industrial will post 1.59 EPS for the current year.

Global Industrial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.26 dividend. This is a boost from Global Industrial’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend was Monday, March 10th. Global Industrial’s payout ratio is currently 66.24%.

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.