Renaissance Technologies LLC Trims Stock Position in Global Industrial (NYSE:GIC)

Renaissance Technologies LLC cut its holdings in Global Industrial (NYSE:GIC) by 2.6% during the 4th quarter, Holdings Channel reports. The firm owned 334,179 shares of the company’s stock after selling 9,095 shares during the period. Renaissance Technologies LLC’s holdings in Global Industrial were worth $8,284,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Wells Fargo & Company MN grew its holdings in Global Industrial by 44.4% during the 4th quarter. Wells Fargo & Company MN now owns 7,058 shares of the company’s stock valued at $175,000 after buying an additional 2,170 shares during the last quarter. ExodusPoint Capital Management LP boosted its stake in shares of Global Industrial by 118.3% during the fourth quarter. ExodusPoint Capital Management LP now owns 19,551 shares of the company’s stock valued at $485,000 after acquiring an additional 10,594 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Global Industrial during the fourth quarter valued at $298,000. Geode Capital Management LLC increased its position in Global Industrial by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 319,056 shares of the company’s stock worth $7,912,000 after purchasing an additional 2,973 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in Global Industrial in the 4th quarter valued at about $50,000. 31.19% of the stock is owned by hedge funds and other institutional investors.

Global Industrial Price Performance

Global Industrial stock opened at $21.44 on Friday. The stock has a market capitalization of $821.20 million, a P/E ratio of 12.61, a P/E/G ratio of 0.93 and a beta of 0.85. Global Industrial has a 12-month low of $20.79 and a 12-month high of $41.38. The firm’s 50-day moving average is $22.97 and its two-hundred day moving average is $26.10.

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

Global Industrial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.85%. This is a positive change from Global Industrial’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 10th. Global Industrial’s dividend payout ratio (DPR) is presently 66.24%.

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.