Price T Rowe Associates Inc. MD Purchases 2,834 Shares of Global Industrial (NYSE:GIC)

Price T Rowe Associates Inc. MD boosted its stake in Global Industrial (NYSE:GIC) by 19.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,224 shares of the company’s stock after purchasing an additional 2,834 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Global Industrial were worth $427,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in Global Industrial by 65.6% in the fourth quarter. Bank of New York Mellon Corp now owns 319,282 shares of the company’s stock valued at $7,915,000 after buying an additional 126,431 shares during the period. Geode Capital Management LLC lifted its stake in Global Industrial by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 319,056 shares of the company’s stock valued at $7,912,000 after buying an additional 2,973 shares during the period. Raymond James Financial Inc. acquired a new position in Global Industrial in the fourth quarter valued at about $4,001,000. JPMorgan Chase & Co. lifted its stake in Global Industrial by 139.0% in the fourth quarter. JPMorgan Chase & Co. now owns 109,941 shares of the company’s stock valued at $2,725,000 after buying an additional 63,936 shares during the period. Finally, Denali Advisors LLC lifted its stake in Global Industrial by 44.4% in the fourth quarter. Denali Advisors LLC now owns 107,300 shares of the company’s stock valued at $2,660,000 after buying an additional 33,000 shares during the period. Institutional investors and hedge funds own 31.19% of the company’s stock.

Global Industrial Trading Down 2.1%

NYSE:GIC opened at $26.39 on Thursday. Global Industrial has a 1-year low of $20.79 and a 1-year high of $36.17. The business’s 50-day moving average price is $23.09 and its two-hundred day moving average price is $24.90. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 0.93 and a beta of 0.82.

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, April 29th. The company reported $0.35 earnings per share for the quarter, beating 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 firm had revenue of $321.00 million for the quarter, compared to analyst estimates of $307.15 million. Sell-side analysts predict that Global Industrial will post 1.59 earnings per share for the current year.

Global Industrial Announces Dividend

The firm 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, May 12th. Global Industrial’s dividend payout ratio is currently 65.82%.

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.