Millennium Management LLC Sells 80,620 Shares of Global Industrial (NYSE:GIC)

Millennium Management LLC reduced its holdings in shares of Global Industrial (NYSE:GIC - Free Report) by 71.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,650 shares of the company's stock after selling 80,620 shares during the quarter. Millennium Management LLC owned about 0.08% of Global Industrial worth $785,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Lazard Asset Management LLC raised its stake in shares of Global Industrial by 14.3% during the 4th quarter. Lazard Asset Management LLC now owns 32,595 shares of the company's stock valued at $808,000 after purchasing an additional 4,068 shares during the period. J. Goldman & Co LP raised its stake in shares of Global Industrial by 559.7% during the 4th quarter. J. Goldman & Co LP now owns 494,650 shares of the company's stock valued at $12,262,000 after purchasing an additional 419,672 shares during the period. D. E. Shaw & Co. Inc. raised its stake in shares of Global Industrial by 574.6% during the 4th 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. Bank of America Corp DE raised its stake in shares of 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 purchasing an additional 1,443 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in shares of Global Industrial during the 4th quarter valued at $1,391,000. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

Global Industrial Stock Down 0.4%

Shares of NYSE:GIC traded down $0.11 during midday trading on Monday, reaching $27.02. 59,452 shares of the company traded hands, compared to its average volume of 92,704. Global Industrial has a 12 month low of $20.79 and a 12 month high of $36.17. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 0.93 and a beta of 0.80. The firm's fifty day moving average price is $24.52 and its two-hundred day moving average price is $24.66.

Global Industrial (NYSE:GIC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.15. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. The company had revenue of $321.00 million for the quarter, compared to analyst estimates of $307.15 million. Analysts forecast that Global Industrial will post 1.59 earnings per share for the current year.

Global Industrial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Monday, May 12th. Global Industrial's dividend payout ratio is 65.82%.

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.