Rhumbline Advisers Cuts Stake in Global Industrial Company (NYSE:GIC)

Rhumbline Advisers cut its holdings in shares of Global Industrial Company (NYSE:GIC - Free Report) by 47.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,286 shares of the company's stock after selling 18,411 shares during the quarter. Rhumbline Advisers owned about 0.05% of Global Industrial worth $454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. New York State Common Retirement Fund increased its stake in Global Industrial by 34.6% during the 4th quarter. New York State Common Retirement Fund now owns 37,772 shares of the company's stock worth $936,000 after buying an additional 9,700 shares during the period. Bank of New York Mellon Corp increased its stake in Global Industrial by 65.6% during the 4th quarter. Bank of New York Mellon Corp now owns 319,282 shares of the company's stock worth $7,915,000 after buying an additional 126,431 shares during the period. Denali Advisors LLC increased its stake in Global Industrial by 44.4% during the 4th quarter. Denali Advisors LLC now owns 107,300 shares of the company's stock worth $2,660,000 after buying an additional 33,000 shares during the period. Raymond James Financial Inc. purchased a new stake in Global Industrial during the 4th quarter worth approximately $4,001,000. Finally, Eaton Financial Holdings Company LLC purchased a new stake in Global Industrial during the 4th quarter worth approximately $825,000. 31.19% of the stock is currently owned by institutional investors and hedge funds.

Global Industrial Trading Up 1.8%

Shares of NYSE:GIC opened at $26.96 on Tuesday. The company's 50 day moving average is $25.48 and its two-hundred day moving average is $24.57. Global Industrial Company has a 52 week low of $20.79 and a 52 week high of $36.17. The company has a market cap of $1.03 billion, a PE ratio of 17.06, a P/E/G ratio of 0.98 and a beta of 0.80.

Global Industrial (NYSE:GIC - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.20 by $0.15. Global Industrial had a net margin of 4.67% and a return on equity of 21.85%. The company had revenue of $321.00 million during the quarter, compared to analysts' expectations of $307.15 million. As a group, equities research analysts expect that Global Industrial Company will post 1.59 EPS for the current year.

Global Industrial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.86%. Global Industrial's dividend payout ratio (DPR) is presently 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.

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