KLP Kapitalforvaltning AS Takes $283,000 Position in Global Industrial (NYSE:GIC)

KLP Kapitalforvaltning AS purchased a new position in shares of Global Industrial (NYSE:GIC) during the fourth quarter, Holdings Channel.com reports. The fund purchased 11,400 shares of the company’s stock, valued at approximately $283,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP boosted its stake in shares of Global Industrial by 150.3% during the 4th quarter. Quantbot Technologies LP now owns 3,614 shares of the company’s stock worth $90,000 after acquiring an additional 2,170 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Global Industrial by 9.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,808 shares of the company’s stock worth $299,000 after purchasing an additional 786 shares during the period. Semanteon Capital Management LP purchased a new position in Global Industrial during the fourth quarter worth approximately $219,000. Sei Investments Co. grew its holdings in Global Industrial by 42.4% in the fourth quarter. Sei Investments Co. now owns 8,884 shares of the company’s stock valued at $220,000 after purchasing an additional 2,645 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in shares of Global Industrial by 26.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 11,465 shares of the company’s stock valued at $284,000 after buying an additional 2,364 shares in the last quarter. Institutional investors and hedge funds own 31.19% of the company’s stock.

Global Industrial Price Performance

Shares of NYSE:GIC opened at $21.91 on Monday. The business’s 50 day moving average price is $23.56 and its 200-day moving average price is $26.85. Global Industrial has a 1 year low of $21.04 and a 1 year high of $45.64. The firm has a market capitalization of $839.24 million, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 0.93 and a beta of 0.85.

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

Global Industrial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.75%. This is a boost from Global Industrial’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 10th. Global Industrial’s payout ratio is presently 66.24%.

About Global Industrial

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.