Barclays PLC Boosts Stock Position in Global Industrial (NYSE:GIC)

Barclays PLC grew its holdings in Global Industrial (NYSE:GIC) by 221.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,622 shares of the company’s stock after purchasing an additional 21,097 shares during the period. Barclays PLC’s holdings in Global Industrial were worth $1,041,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Copeland Capital Management LLC bought a new position in Global Industrial in the third quarter worth approximately $61,000. Point72 Asset Management L.P. lifted its holdings in shares of Global Industrial by 173.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock worth $111,000 after buying an additional 2,249 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Global Industrial by 12.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock worth $252,000 after buying an additional 919 shares during the period. SG Americas Securities LLC bought a new position in shares of Global Industrial during the 3rd quarter worth $281,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Global Industrial during the third quarter valued at $309,000. 31.19% of the stock is currently owned by institutional investors.

Global Industrial Price Performance

NYSE:GIC opened at $24.49 on Wednesday. Global Industrial has a 1-year low of $23.09 and a 1-year high of $46.97. The company has a 50-day moving average of $26.61 and a 200 day moving average of $30.51. The firm has a market cap of $936.28 million, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.04 and a beta of 0.88.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.14). The business had revenue of $342.40 million during 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 previous year, the company posted $0.54 EPS. Sell-side analysts anticipate that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.08%. Global Industrial’s dividend payout ratio is presently 58.82%.

Insider Transactions at Global Industrial

In related news, Vice Chairman Bruce Leeds sold 5,840 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total transaction of $165,155.20. Following the completion of the transaction, the insider now owns 23,675 shares in the company, valued at $669,529. The trade was a 19.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 65.30% of the company’s stock.

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.