Global Industrial (NYSE:GIC) Short Interest Update

Global Industrial (NYSE:GIC) saw a significant decline in short interest in November. As of November 15th, there was short interest totalling 328,400 shares, a decline of 7.5% from the October 31st total of 355,000 shares. Based on an average daily trading volume, of 76,800 shares, the short-interest ratio is presently 4.3 days. Currently, 4.2% of the company’s stock are sold short.

Global Industrial Price Performance

Shares of GIC stock traded down $0.20 during trading on Wednesday, hitting $27.61. 18,596 shares of the stock traded hands, compared to its average volume of 78,562. Global Industrial has a 52-week low of $25.00 and a 52-week high of $46.97. The firm has a market capitalization of $1.06 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 1.08 and a beta of 0.86. The firm’s fifty day moving average price is $30.64 and its 200-day moving average price is $32.14.

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

Global Industrial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.62%. Global Industrial’s payout ratio is currently 58.82%.

Insider Buying and Selling

In other news, Vice Chairman Bruce Leeds sold 5,840 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total value of $165,155.20. Following the completion of the sale, the insider now directly owns 23,675 shares in the company, valued at $669,529. This represents a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 65.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Global Industrial

Hedge funds have recently made changes to their positions in the company. Copeland Capital Management LLC purchased a new stake in Global Industrial in the 3rd quarter valued at $61,000. Point72 Asset Management L.P. grew its holdings in shares of Global Industrial by 173.0% during the second quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock worth $111,000 after buying an additional 2,249 shares during the last quarter. National Bank of Canada FI increased its position in Global Industrial by 41.8% in the 2nd quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock valued at $153,000 after acquiring an additional 1,472 shares during the period. The Manufacturers Life Insurance Company grew its position in Global Industrial by 12.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock valued at $252,000 after buying an additional 919 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Global Industrial during the second quarter worth about $268,000. Hedge funds and other institutional investors own 31.19% of the company’s stock.

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.