JPMorgan Chase & Co. Acquires 63,936 Shares of Global Industrial (NYSE:GIC)

JPMorgan Chase & Co. increased its stake in shares of Global Industrial (NYSE:GIC - Free Report) by 139.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,941 shares of the company's stock after purchasing an additional 63,936 shares during the period. JPMorgan Chase & Co. owned approximately 0.29% of Global Industrial worth $2,725,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GIC. State Street Corp raised its holdings in shares of Global Industrial by 2.6% during the third quarter. State Street Corp now owns 315,779 shares of the company's stock valued at $10,727,000 after purchasing an additional 8,136 shares during the last quarter. Barclays PLC raised its holdings in shares of Global Industrial by 221.5% during the third quarter. Barclays PLC now owns 30,622 shares of the company's stock valued at $1,041,000 after purchasing an additional 21,097 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Global Industrial by 3.5% during the third quarter. Geode Capital Management LLC now owns 316,083 shares of the company's stock valued at $10,740,000 after purchasing an additional 10,601 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Global Industrial by 26.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 11,465 shares of the company's stock valued at $284,000 after purchasing an additional 2,364 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Global Industrial by 102.0% during the fourth quarter. Rhumbline Advisers now owns 38,697 shares of the company's stock valued at $959,000 after buying an additional 19,543 shares during the last quarter. 31.19% of the stock is owned by hedge funds and other institutional investors.

Global Industrial Trading Down 0.5 %

GIC stock traded down $0.11 during midday trading on Monday, reaching $22.01. 69,495 shares of the company's stock traded hands, compared to its average volume of 91,560. Global Industrial has a 52-week low of $20.79 and a 52-week high of $40.34. The stock has a market cap of $843.23 million, a P/E ratio of 12.95, a PEG ratio of 0.93 and a beta of 0.85. The stock's 50-day moving average is $22.62 and its 200 day moving average is $25.46.

Global Industrial (NYSE:GIC - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.03). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The business had revenue of $302.30 million for the quarter, compared to analysts' expectations of $306.07 million. As a group, research analysts expect that Global Industrial will post 1.59 EPS for the current fiscal year.

Global Industrial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.26 per share. This is a boost from Global Industrial's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend was Monday, March 10th. Global Industrial's dividend payout ratio is currently 66.24%.

Global Industrial 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.