Mawer Investment Management Ltd. Sells 687,090 Shares of Global Industrial (NYSE:GIC)

Mawer Investment Management Ltd. decreased its holdings in shares of Global Industrial (NYSE:GIC) by 37.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,139,880 shares of the company’s stock after selling 687,090 shares during the period. Mawer Investment Management Ltd. owned 2.98% of Global Industrial worth $28,258,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Barclays PLC raised its holdings in shares of Global Industrial by 221.5% during the third quarter. Barclays PLC now owns 30,622 shares of the company’s stock valued at $1,041,000 after acquiring an additional 21,097 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Global Industrial by 39.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 46,005 shares of the company’s stock worth $1,563,000 after purchasing an additional 13,105 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Global Industrial by 34.6% in the 4th quarter. New York State Common Retirement Fund now owns 37,772 shares of the company’s stock worth $936,000 after purchasing an additional 9,700 shares during the period. FMR LLC boosted its stake in shares of Global Industrial by 14.7% during the 3rd quarter. FMR LLC now owns 2,534,156 shares of the company’s stock valued at $86,085,000 after purchasing an additional 325,555 shares in the last quarter. Finally, State Street Corp raised its stake in Global Industrial by 2.6% in the third quarter. State Street Corp now owns 315,779 shares of the company’s stock worth $10,727,000 after buying an additional 8,136 shares in the last quarter. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Global Industrial Stock Performance

Global Industrial stock opened at $22.51 on Friday. Global Industrial has a fifty-two week low of $22.09 and a fifty-two week high of $45.69. The stock’s 50 day simple moving average is $23.85 and its two-hundred day simple moving average is $27.24. The stock has a market cap of $862.53 million, a price-to-earnings ratio of 13.24, a PEG ratio of 0.93 and a beta of 0.85.

Global Industrial (NYSE:GIC) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.03). The firm had revenue of $302.30 million for the quarter, compared to the consensus estimate of $306.07 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. On average, analysts predict that Global Industrial will post 1.59 earnings per share for the current year.

Global Industrial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.04 annualized dividend and a dividend yield of 4.62%. This is an increase from Global Industrial’s previous quarterly dividend of $0.25. Global Industrial’s dividend payout ratio is presently 66.24%.

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.