Laurus Investment Counsel Inc. Sells 4,180 Shares of Global Industrial (NYSE:GIC)

Laurus Investment Counsel Inc. trimmed its stake in Global Industrial (NYSE:GIC) by 5.0% in the fourth quarter, Holdings Channel reports. The firm owned 79,760 shares of the company’s stock after selling 4,180 shares during the quarter. Global Industrial comprises approximately 1.5% of Laurus Investment Counsel Inc.’s investment portfolio, making the stock its 18th biggest position. Laurus Investment Counsel Inc.’s holdings in Global Industrial were worth $3,098,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its stake in shares of Global Industrial by 9.8% during the 3rd quarter. Acadian Asset Management LLC now owns 23,840 shares of the company’s stock worth $798,000 after acquiring an additional 2,128 shares during the period. FMR LLC boosted its stake in shares of Global Industrial by 520.0% during the 3rd quarter. FMR LLC now owns 409,721 shares of the company’s stock worth $13,726,000 after acquiring an additional 343,633 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Global Industrial by 1.8% during the 3rd quarter. Hsbc Holdings PLC now owns 31,061 shares of the company’s stock worth $1,040,000 after acquiring an additional 537 shares during the period. Quadrature Capital Ltd bought a new position in shares of Global Industrial during the 3rd quarter worth approximately $398,000. Finally, Mawer Investment Management Ltd. boosted its stake in Global Industrial by 2.7% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,967,554 shares of the company’s stock valued at $65,913,000 after purchasing an additional 51,028 shares during the period. 31.19% of the stock is currently owned by institutional investors.

Global Industrial Price Performance

GIC opened at $44.99 on Thursday. The business has a fifty day simple moving average of $43.77 and a 200 day simple moving average of $38.37. The company has a market capitalization of $1.72 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 1.39 and a beta of 0.88. Global Industrial has a 1 year low of $20.52 and a 1 year high of $46.97.

Global Industrial (NYSE:GIC) last released its earnings results on Thursday, February 29th. The company reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.40. The firm had revenue of $320.10 million during the quarter, compared to the consensus estimate of $313.50 million. Global Industrial had a return on equity of 29.76% and a net margin of 5.55%. Equities analysts anticipate that Global Industrial will post 2.03 earnings per share for the current fiscal year.

Global Industrial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 11th were given a $0.25 dividend. The ex-dividend date was Friday, March 8th. This is an increase from Global Industrial’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 2.22%. Global Industrial’s dividend payout ratio (DPR) is currently 54.05%.

Insider Buying and Selling at Global Industrial

In other news, Vice Chairman Bruce Leeds sold 380,000 shares of the 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 completion of the sale, the insider now owns 139,800 shares of the company’s stock, valued at $5,752,770. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 66.34% of the company’s stock.

Global Industrial Company 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.