Charles Schwab Investment Management Inc. Trims Holdings in Global Industrial Company $GIC

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in Global Industrial Company ($GIC) by 5.9%, owning 110,093 shares valued at approximately $2.47 million after selling 6,925 shares.
• Global Industrial recently reported $0.65 EPS for the quarter, exceeding analysts' expectations, with a revenue of $358.90 million.
• The company announced a quarterly dividend of $0.26, resulting in an annualized yield of 2.8% and a payout ratio of 60.82%.

Charles Schwab Investment Management Inc. trimmed its stake in shares of Global Industrial Company (NYSE:GIC - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,093 shares of the company's stock after selling 6,925 shares during the period. Charles Schwab Investment Management Inc. owned about 0.29% of Global Industrial worth $2,466,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GIC. J. Goldman & Co LP grew its holdings in Global Industrial by 559.7% during the fourth quarter. J. Goldman & Co LP now owns 494,650 shares of the company's stock worth $12,262,000 after acquiring an additional 419,672 shares during the period. Numerai GP LLC acquired a new stake in Global Industrial during the fourth quarter worth about $1,506,000. Denali Advisors LLC grew its holdings in Global Industrial by 54.5% during the first quarter. Denali Advisors LLC now owns 165,779 shares of the company's stock worth $3,713,000 after acquiring an additional 58,479 shares during the period. BNP Paribas Financial Markets acquired a new stake in Global Industrial during the fourth quarter worth about $1,391,000. Finally, D. E. Shaw & Co. Inc. grew its holdings in Global Industrial by 574.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 52,555 shares of the company's stock valued at $1,303,000 after purchasing an additional 44,764 shares during the period. 31.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Global Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd.

Global Industrial Stock Down 1.3%

Shares of NYSE GIC traded down $0.49 during midday trading on Wednesday, hitting $36.93. The stock had a trading volume of 30,893 shares, compared to its average volume of 109,026. The company has a market capitalization of $1.42 billion, a PE ratio of 21.59, a P/E/G ratio of 1.19 and a beta of 0.84. The stock has a 50 day simple moving average of $31.60 and a 200-day simple moving average of $26.86. Global Industrial Company has a 1 year low of $20.79 and a 1 year high of $37.90.

Global Industrial (NYSE:GIC - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.15. The business had revenue of $358.90 million for the quarter, compared to the consensus estimate of $351.81 million. Global Industrial had a return on equity of 22.89% and a net margin of 5.00%. As a group, analysts expect that Global Industrial Company will post 1.59 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Monday, August 11th. Global Industrial's dividend payout ratio (DPR) is 60.82%.

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.