Global Industrial (NYSE:GIC) Hits New 12-Month Low – What’s Next?

Shares of Global Industrial (NYSE:GIC) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $24.60 and last traded at $24.61, with a volume of 51132 shares changing hands. The stock had previously closed at $25.28.

Global Industrial Trading Down 1.8 %

The firm has a market cap of $949.28 million, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.07 and a beta of 0.86. The company has a 50 day moving average price of $28.33 and a 200 day moving average price of $31.23.

Global Industrial (NYSE:GIC) last posted its earnings results on Tuesday, October 29th. The company reported $0.44 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 for the quarter, compared to analysts’ expectations of $353.44 million. During the same quarter in the previous year, the firm posted $0.54 earnings per share. As a group, equities research analysts anticipate that Global Industrial will post 1.62 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date was Friday, November 8th. Global Industrial’s payout ratio is currently 58.82%.

Insider Activity at Global Industrial

In other Global Industrial news, Vice Chairman Bruce Leeds sold 5,840 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total value of $165,155.20. Following the sale, the insider now directly owns 23,675 shares of the company’s stock, valued at approximately $669,529. This trade represents a 19.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 65.30% of the company’s stock.

Institutional Investors Weigh In On Global Industrial

Hedge funds have recently modified their holdings of the stock. FMR LLC boosted its holdings in shares of Global Industrial by 14.7% in 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 during the last quarter. Dimensional Fund Advisors LP increased its stake in Global Industrial by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,022,574 shares of the company’s stock worth $32,067,000 after acquiring an additional 6,602 shares during the last quarter. Renaissance Technologies LLC increased its stake in Global Industrial by 2.7% during the second quarter. Renaissance Technologies LLC now owns 345,174 shares of the company’s stock worth $10,825,000 after acquiring an additional 9,200 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 10,601 shares during the period. Finally, State Street Corp grew its holdings in shares of Global Industrial by 2.6% during the 3rd quarter. State Street Corp now owns 315,779 shares of the company’s stock worth $10,727,000 after purchasing an additional 8,136 shares during the period. 31.19% of the stock is owned by institutional investors and hedge funds.

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.