Global Industrial (NYSE:GIC) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lifted its stake in Global Industrial (NYSE:GIC) by 340.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,560 shares of the company’s stock after purchasing an additional 1,206 shares during the period. Tower Research Capital LLC TRC’s holdings in Global Industrial were worth $39,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. MetLife Investment Management LLC grew its position in Global Industrial by 13.6% in the fourth quarter. MetLife Investment Management LLC now owns 8,215 shares of the company’s stock worth $204,000 after acquiring an additional 982 shares during the period. Barclays PLC grew its position in Global Industrial by 16.6% in the fourth quarter. Barclays PLC now owns 35,710 shares of the company’s stock worth $885,000 after acquiring an additional 5,088 shares during the period. Raymond James Financial Inc. purchased a new position in Global Industrial in the fourth quarter worth approximately $4,001,000. Wells Fargo & Company MN grew its position in Global Industrial by 44.4% in the fourth quarter. Wells Fargo & Company MN now owns 7,058 shares of the company’s stock worth $175,000 after acquiring an additional 2,170 shares during the period. Finally, ExodusPoint Capital Management LP grew its position in Global Industrial by 118.3% in the fourth quarter. ExodusPoint Capital Management LP now owns 19,551 shares of the company’s stock worth $485,000 after acquiring an additional 10,594 shares during the period. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

Global Industrial Stock Performance

Shares of Global Industrial stock opened at $26.95 on Wednesday. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 0.93 and a beta of 0.82. Global Industrial has a fifty-two week low of $20.79 and a fifty-two week high of $36.17. The stock has a 50 day moving average of $23.05 and a 200 day moving average of $24.89.

Global Industrial (NYSE:GIC) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.20 by $0.15. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. The business had revenue of $321.00 million during the quarter, compared to analyst estimates of $307.15 million. Analysts forecast that Global Industrial will post 1.59 EPS for the current year.

Global Industrial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 12th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 3.86%. Global Industrial’s dividend payout ratio is currently 65.82%.

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.