Hillsdale Investment Management Inc. Buys Shares of 85,397 Global Industrial (NYSE:GIC)

Hillsdale Investment Management Inc. bought a new stake in Global Industrial (NYSE:GIC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 85,397 shares of the company’s stock, valued at approximately $3,824,000. Hillsdale Investment Management Inc. owned about 0.22% of Global Industrial as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its stake in Global Industrial by 45.5% in the fourth quarter. SG Americas Securities LLC now owns 4,447 shares of the company’s stock valued at $173,000 after acquiring an additional 1,390 shares during the last quarter. Leeward Financial Partners LLC purchased a new position in Global Industrial in the first quarter valued at about $224,000. Arizona State Retirement System bought a new stake in shares of Global Industrial in the fourth quarter valued at approximately $206,000. Summit Global Investments bought a new stake in shares of Global Industrial in the fourth quarter valued at approximately $255,000. Finally, Gallacher Capital Management LLC bought a new stake in shares of Global Industrial in the first quarter valued at approximately $324,000. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

Global Industrial Trading Up 2.1 %

Shares of NYSE GIC traded up $0.69 during midday trading on Monday, hitting $34.31. The company’s stock had a trading volume of 48,175 shares, compared to its average volume of 82,265. The stock has a fifty day moving average price of $33.07 and a 200 day moving average price of $38.79. Global Industrial has a one year low of $27.37 and a one year high of $46.97. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 1.09 and a beta of 0.85.

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

Global Industrial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Friday, May 10th. Global Industrial’s dividend payout ratio (DPR) 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.