Short Interest in Global Industrial (NYSE:GIC) Decreases By 36.3%

Global Industrial (NYSE:GIC) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 154,800 shares, a drop of 36.3% from the February 28th total of 242,900 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average daily trading volume, of 115,000 shares, the short-interest ratio is currently 1.3 days.

Global Industrial Stock Performance

GIC stock traded down $0.74 during midday trading on Friday, reaching $22.51. 78,022 shares of the company’s stock traded hands, compared to its average volume of 86,327. The firm has a market capitalization of $862.53 million, a PE ratio of 13.24, a price-to-earnings-growth ratio of 0.93 and a beta of 0.85. The company has a 50-day moving average price of $23.85 and a two-hundred day moving average price of $27.21. Global Industrial has a 52 week low of $22.09 and a 52 week high of $45.69.

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.03). The business 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%. As a group, analysts predict that Global Industrial will post 1.59 EPS for the current fiscal year.

Global Industrial Increases Dividend

The firm 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. This is a positive change from Global Industrial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend 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 (DPR) is presently 66.24%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its stake in shares of Global Industrial by 340.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company’s stock valued at $39,000 after purchasing an additional 1,206 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Global Industrial in the 4th quarter worth approximately $50,000. Quantbot Technologies LP lifted its stake in shares of Global Industrial by 150.3% in the 4th quarter. Quantbot Technologies LP now owns 3,614 shares of the company’s stock valued at $90,000 after purchasing an additional 2,170 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Global Industrial by 44.4% in the 4th quarter. Wells Fargo & Company MN now owns 7,058 shares of the company’s stock valued at $175,000 after purchasing an additional 2,170 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in Global Industrial by 13.6% in the fourth quarter. MetLife Investment Management LLC now owns 8,215 shares of the company’s stock worth $204,000 after purchasing an additional 982 shares in the last quarter. 31.19% of the stock is owned by hedge funds and other institutional investors.

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.