New York State Common Retirement Fund Raises Holdings in Global Industrial (NYSE:GIC)

New York State Common Retirement Fund grew its position in shares of Global Industrial (NYSE:GIC) by 34.6% in the fourth quarter, HoldingsChannel reports. The firm owned 37,772 shares of the company’s stock after buying an additional 9,700 shares during the quarter. New York State Common Retirement Fund’s holdings in Global Industrial were worth $936,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its position in shares of Global Industrial by 14.7% during the third quarter. FMR LLC now owns 2,534,156 shares of the company’s stock valued at $86,085,000 after purchasing an additional 325,555 shares in the last quarter. Geode Capital Management LLC grew its position in Global Industrial by 3.5% in the third quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock worth $10,740,000 after acquiring an additional 10,601 shares in the last quarter. State Street Corp grew its position in Global Industrial by 2.6% in the third quarter. State Street Corp now owns 315,779 shares of the company’s stock worth $10,727,000 after acquiring an additional 8,136 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Global Industrial by 101.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 177,884 shares of the company’s stock worth $6,043,000 after acquiring an additional 89,780 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Global Industrial by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 120,803 shares of the company’s stock worth $4,104,000 after acquiring an additional 456 shares in the last quarter. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Global Industrial Trading Down 0.5 %

GIC opened at $23.34 on Tuesday. The firm has a market cap of $894.18 million, a P/E ratio of 13.73, a P/E/G ratio of 0.93 and a beta of 0.87. Global Industrial has a 12 month low of $23.09 and a 12 month high of $46.97. The stock has a 50-day moving average of $24.50 and a 200 day moving average of $28.51.

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

Global Industrial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.26 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.04 annualized dividend and a yield of 4.46%. This is a positive change from Global Industrial’s previous quarterly dividend of $0.25. Global Industrial’s dividend payout ratio (DPR) is currently 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.