Rhumbline Advisers Lowers Stock Holdings in Global Industrial Company $GIC

Rhumbline Advisers trimmed its position in shares of Global Industrial Company (NYSE:GIC) by 47.6% in the first quarter, HoldingsChannel.com reports. The fund owned 20,286 shares of the company’s stock after selling 18,411 shares during the period. Rhumbline Advisers’ holdings in Global Industrial were worth $454,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GIC. Jane Street Group LLC boosted its holdings in Global Industrial by 114.0% during the 4th quarter. Jane Street Group LLC now owns 15,294 shares of the company’s stock valued at $379,000 after acquiring an additional 8,146 shares during the period. Bank of America Corp DE boosted its holdings in Global Industrial by 3.6% during the 4th quarter. Bank of America Corp DE now owns 41,710 shares of the company’s stock valued at $1,034,000 after acquiring an additional 1,443 shares during the period. Nuveen Asset Management LLC boosted its holdings in Global Industrial by 4.8% during the 4th quarter. Nuveen Asset Management LLC now owns 57,688 shares of the company’s stock valued at $1,430,000 after acquiring an additional 2,645 shares during the period. Two Sigma Investments LP boosted its holdings in Global Industrial by 24.7% during the 4th quarter. Two Sigma Investments LP now owns 68,842 shares of the company’s stock valued at $1,707,000 after acquiring an additional 13,630 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Global Industrial by 50.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,446 shares of the company’s stock valued at $1,102,000 after acquiring an additional 14,999 shares during the period. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

Global Industrial Price Performance

Global Industrial stock opened at $36.57 on Wednesday. Global Industrial Company has a 12 month low of $20.79 and a 12 month high of $38.79. The business has a 50 day simple moving average of $34.42 and a 200-day simple moving average of $28.25. The stock has a market capitalization of $1.40 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 1.17 and a beta of 0.84.

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15. Global Industrial had a net margin of 5.00% and a return on equity of 22.89%. The firm had revenue of $358.90 million during the quarter, compared to the consensus estimate of $351.81 million. As a group, equities research analysts anticipate that Global Industrial Company will post 1.59 EPS for the current year.

Global Industrial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, August 11th. Global Industrial’s dividend payout ratio is currently 60.82%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 2nd.

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.