New York Life Investment Management LLC Sells 378 Shares of Global Industrial (NYSE:GIC)

New York Life Investment Management LLC reduced its position in Global Industrial (NYSE:GIC) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,867 shares of the company’s stock after selling 378 shares during the period. New York Life Investment Management LLC’s holdings in Global Industrial were worth $500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Global Industrial during the 3rd quarter worth $102,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Global Industrial by 178.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,306 shares of the company’s stock valued at $178,000 after purchasing an additional 3,402 shares during the period. Arizona State Retirement System purchased a new stake in Global Industrial in the fourth quarter worth about $206,000. LVZ Inc. increased its position in Global Industrial by 6.7% in the fourth quarter. LVZ Inc. now owns 8,269 shares of the company’s stock worth $321,000 after buying an additional 518 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of Global Industrial in the third quarter worth about $357,000. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Global Industrial Trading Up 2.3 %

Shares of NYSE:GIC opened at $35.90 on Friday. The stock has a 50 day moving average of $42.22 and a 200 day moving average of $39.94. The company has a market cap of $1.37 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.11 and a beta of 0.92. Global Industrial has a 12-month low of $23.08 and a 12-month high of $46.97.

Global Industrial (NYSE:GIC) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40. The business had revenue of $320.10 million during the quarter, compared to analyst estimates of $313.50 million. Global Industrial had a net margin of 5.34% and a return on equity of 28.39%. Equities research analysts predict that Global Industrial will post 1.96 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.79%. Global Industrial’s payout ratio is presently 54.35%.

Insider Buying and Selling at Global Industrial

In other news, Vice Chairman Bruce Leeds sold 380,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $41.15, for a total value of $15,637,000.00. Following the transaction, the insider now directly owns 139,800 shares in the company, valued at $5,752,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.