King Luther Capital Management Corp Decreases Stock Position in Global Industrial (NYSE:GIC)

King Luther Capital Management Corp decreased its position in shares of Global Industrial (NYSE:GIC) by 23.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 241,593 shares of the company’s stock after selling 72,675 shares during the period. King Luther Capital Management Corp’s holdings in Global Industrial were worth $5,989,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GIC. The Manufacturers Life Insurance Company increased its position in shares of Global Industrial by 9.8% during the third quarter. The Manufacturers Life Insurance Company now owns 8,808 shares of the company’s stock worth $299,000 after acquiring an additional 786 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in Global Industrial by 26.0% during the 4th 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 in the last quarter. Barclays PLC increased its holdings in Global Industrial by 221.5% during the 3rd quarter. Barclays PLC now owns 30,622 shares of the company’s stock worth $1,041,000 after purchasing an additional 21,097 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Global Industrial by 34.6% in the 4th quarter. New York State Common Retirement Fund now owns 37,772 shares of the company’s stock valued at $936,000 after purchasing an additional 9,700 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Global Industrial by 102.0% during the 4th 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. Institutional investors and hedge funds own 31.19% of the company’s stock.

Global Industrial Trading Down 1.3 %

GIC stock opened at $23.00 on Wednesday. The company has a market capitalization of $881.08 million, a P/E ratio of 13.53, a PEG ratio of 0.93 and a beta of 0.85. The firm has a 50 day simple moving average of $24.29 and a 200-day simple moving average of $28.11. Global Industrial has a twelve month low of $22.62 and a twelve month high of $46.97.

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.03). The company had revenue of $302.30 million during the quarter, compared to the consensus estimate of $306.07 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. On average, research analysts predict that Global Industrial will post 1.59 EPS for the current year.

Global Industrial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $0.26 dividend. This is a positive change from Global Industrial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.04 annualized dividend and a dividend yield of 4.52%. Global Industrial’s dividend payout ratio (DPR) is presently 66.24%.

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.