Mawer Investment Management Ltd. Cuts Stock Holdings in Global Industrial (NYSE:GIC)

Mawer Investment Management Ltd. reduced its position in Global Industrial (NYSE:GIC) by 37.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,139,880 shares of the company’s stock after selling 687,090 shares during the period. Mawer Investment Management Ltd.’s holdings in Global Industrial were worth $28,258,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GIC. FMR LLC raised its stake in shares of Global Industrial by 14.7% in the third quarter. FMR LLC now owns 2,534,156 shares of the company’s stock worth $86,085,000 after purchasing an additional 325,555 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Global Industrial by 65.6% in the 4th quarter. Bank of New York Mellon Corp now owns 319,282 shares of the company’s stock worth $7,915,000 after buying an additional 126,431 shares in the last quarter. Geode Capital Management LLC raised its position in Global Industrial by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock worth $10,740,000 after buying an additional 10,601 shares during the last quarter. State Street Corp lifted its stake in Global Industrial by 2.6% during the 3rd quarter. State Street Corp now owns 315,779 shares of the company’s stock valued at $10,727,000 after acquiring an additional 8,136 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Global Industrial by 101.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 177,884 shares of the company’s stock valued at $6,043,000 after acquiring an additional 89,780 shares during the last quarter. 31.19% of the stock is owned by institutional investors.

Global Industrial Stock Down 3.2 %

Shares of GIC stock opened at $22.51 on Friday. The firm has a market capitalization of $862.53 million, a PE ratio of 13.24, a P/E/G ratio of 0.93 and a beta of 0.85. The company has a 50 day moving average price of $23.85 and a 200-day moving average price of $27.24. Global Industrial has a 52 week low of $22.09 and a 52 week high of $45.69.

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

Global Industrial Increases Dividend

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

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.