Leeward Financial Partners LLC Takes Position in Global Industrial (NYSE:GIC)

Leeward Financial Partners LLC acquired a new stake in Global Industrial (NYSE:GIC) during the first quarter, Holdings Channel reports. The institutional investor acquired 5,013 shares of the company’s stock, valued at approximately $224,000.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC grew its holdings in Global Industrial by 45.5% during the fourth quarter. SG Americas Securities LLC now owns 4,447 shares of the company’s stock worth $173,000 after acquiring an additional 1,390 shares during the period. Arizona State Retirement System purchased a new position in Global Industrial during the fourth quarter worth approximately $206,000. Summit Global Investments purchased a new position in Global Industrial during the fourth quarter worth approximately $255,000. LVZ Inc. boosted its position in Global Industrial by 6.7% during the fourth quarter. LVZ Inc. now owns 8,269 shares of the company’s stock worth $321,000 after purchasing an additional 518 shares in the last quarter. Finally, Algert Global LLC purchased a new position in Global Industrial during the third quarter worth approximately $357,000. 31.19% of the stock is owned by institutional investors and hedge funds.

Global Industrial Price Performance

GIC stock traded down $0.26 during mid-day trading on Wednesday, reaching $31.09. 30,855 shares of the company’s stock were exchanged, compared to its average volume of 83,180. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 17.03, a price-to-earnings-growth ratio of 1.02 and a beta of 0.85. The stock’s 50 day moving average is $34.28 and its 200 day moving average is $39.41. Global Industrial has a 12-month low of $26.36 and a 12-month high of $46.97.

Global Industrial (NYSE:GIC) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). The business had revenue of $323.40 million for the quarter, compared to analysts’ expectations of $322.27 million. Global Industrial had a return on equity of 28.39% and a net margin of 5.34%. On average, research analysts forecast that Global Industrial will post 1.93 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a yield of 3.22%. Global Industrial’s dividend payout ratio is currently 54.35%.

Global Industrial 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.