Isthmus Partners LLC Sells 13,283 Shares of Global Industrial (NYSE:GIC)

Isthmus Partners LLC trimmed its holdings in shares of Global Industrial (NYSE:GIC) by 13.8% in the third quarter, HoldingsChannel.com reports. The fund owned 83,012 shares of the company’s stock after selling 13,283 shares during the period. Isthmus Partners LLC’s holdings in Global Industrial were worth $2,820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. FMR LLC increased its position in shares of Global Industrial by 14.7% during the third quarter. FMR LLC now owns 2,534,156 shares of the company’s stock valued at $86,085,000 after acquiring an additional 325,555 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Global Industrial by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,022,574 shares of the company’s stock valued at $32,067,000 after acquiring an additional 6,602 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Global Industrial by 137.3% during the first quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock valued at $32,118,000 after acquiring an additional 414,924 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Global Industrial by 2.7% during the second quarter. Renaissance Technologies LLC now owns 345,174 shares of the company’s stock valued at $10,825,000 after acquiring an additional 9,200 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Global Industrial by 79.4% during the second quarter. Millennium Management LLC now owns 126,107 shares of the company’s stock valued at $3,955,000 after acquiring an additional 55,801 shares during the last quarter. 31.19% of the stock is owned by hedge funds and other institutional investors.

Global Industrial Trading Up 0.5 %

Shares of GIC opened at $28.49 on Friday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.10 and a beta of 0.86. The stock has a 50 day moving average of $31.07 and a 200 day moving average of $32.34. Global Industrial has a 12 month low of $25.00 and a 12 month high of $46.97.

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. The firm had revenue of $342.40 million during the quarter, compared to analysts’ expectations of $353.44 million. During the same period in the prior year, the business earned $0.54 earnings per share. As a group, equities research analysts predict that Global Industrial will post 1.62 earnings per share for the current year.

Global Industrial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Friday, November 8th. Global Industrial’s dividend payout ratio is currently 58.82%.

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.