Global Industrial (NYSE:GIC) Shares Gap Down to $35.80

Global Industrial (NYSE:GIC) shares gapped down before the market opened on Wednesday . The stock had previously closed at $35.80, but opened at $34.36. Global Industrial shares last traded at $34.47, with a volume of 4,074 shares.

Global Industrial Stock Performance

The firm’s 50 day simple moving average is $33.06 and its 200-day simple moving average is $38.60. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.11 and a beta of 0.85.

Global Industrial (NYSE:GIC) last announced its earnings results on Tuesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. Global Industrial had a net margin of 5.16% and a return on equity of 27.26%. The company had revenue of $347.80 million for the quarter, compared to analysts’ expectations of $348.84 million. During the same quarter in the previous year, the company posted $0.56 EPS. As a group, sell-side analysts expect that Global Industrial will post 1.97 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Monday, August 12th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 3.01%. Global Industrial’s dividend payout ratio is presently 54.35%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Rhumbline Advisers raised its holdings in Global Industrial by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock valued at $619,000 after buying an additional 397 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Global Industrial by 3.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company’s stock valued at $576,000 after buying an additional 459 shares during the period. Quadrature Capital Ltd raised its holdings in Global Industrial by 14.2% in the 1st quarter. Quadrature Capital Ltd now owns 8,918 shares of the company’s stock valued at $399,000 after buying an additional 1,106 shares during the period. SG Americas Securities LLC raised its holdings in Global Industrial by 45.5% in the 4th quarter. SG Americas Securities LLC now owns 4,447 shares of the company’s stock valued at $173,000 after buying an additional 1,390 shares during the period. Finally, Isthmus Partners LLC increased its stake in Global Industrial by 3.2% during the fourth quarter. Isthmus Partners LLC now owns 69,392 shares of the company’s stock worth $2,695,000 after purchasing an additional 2,137 shares during the period. 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.