Global Industrial (NYSE:GIC) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its position in shares of Global Industrial (NYSE:GIC) by 26.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,158 shares of the company’s stock after selling 5,849 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Global Industrial were worth $549,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Edgestream Partners L.P. purchased a new position in shares of Global Industrial in the 2nd quarter valued at about $1,017,000. FMR LLC increased its position in shares of Global Industrial by 14.7% in the third quarter. FMR LLC now owns 2,534,156 shares of the company’s stock valued at $86,085,000 after buying an additional 325,555 shares in the last quarter. Millennium Management LLC increased its position in shares of Global Industrial by 79.4% in the second quarter. Millennium Management LLC now owns 126,107 shares of the company’s stock valued at $3,955,000 after buying an additional 55,801 shares in the last quarter. Denali Advisors LLC raised its stake in shares of Global Industrial by 44.5% during the 2nd quarter. Denali Advisors LLC now owns 57,122 shares of the company’s stock worth $1,791,000 after buying an additional 17,600 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Global Industrial during the 2nd quarter valued at approximately $268,000. 31.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Vice Chairman Bruce Leeds sold 5,840 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total value of $165,155.20. Following the completion of the sale, the insider now directly owns 23,675 shares in the company, valued at $669,529. This represents a 19.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 65.30% of the company’s stock.

Global Industrial Stock Performance

Shares of NYSE GIC opened at $27.00 on Monday. The firm has a fifty day moving average of $29.70 and a 200 day moving average of $31.72. The firm has a market cap of $1.03 billion, a PE ratio of 15.88, a PEG ratio of 1.07 and a beta of 0.86. Global Industrial has a one year low of $25.00 and a one year high of $46.97.

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). The company had revenue of $342.40 million for the quarter, compared to analysts’ expectations of $353.44 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. During the same period in the prior year, the firm earned $0.54 EPS. On average, equities analysts predict that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.70%. Global Industrial’s payout ratio is currently 58.82%.

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.