Global Industrial (NYSE:GIC) Sees Unusually-High Trading Volume – Still a Buy?

Global Industrial (NYSE:GIC) saw unusually-high trading volume on Tuesday . Approximately 147,400 shares traded hands during mid-day trading, an increase of 23% from the previous session’s volume of 119,601 shares.The stock last traded at $24.31 and had previously closed at $24.21.

Global Industrial Price Performance

The stock has a market capitalization of $922.13 million, a PE ratio of 14.19, a P/E/G ratio of 1.04 and a beta of 0.88. The business’s fifty day moving average price is $26.66 and its 200-day moving average price is $30.56.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.14). Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. The company had revenue of $342.40 million during the quarter, compared to the consensus estimate of $353.44 million. During the same quarter last year, the company posted $0.54 earnings per share. On average, analysts expect that Global Industrial will post 1.62 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Friday, November 8th. Global Industrial’s dividend payout ratio is 58.82%.

Insider Buying and Selling

In other Global Industrial news, Vice Chairman Bruce Leeds sold 5,840 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total transaction of $165,155.20. Following the completion of the transaction, the insider now owns 23,675 shares of the company’s stock, valued at approximately $669,529. This trade represents a 19.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 65.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Global Industrial

Several large investors have recently modified their holdings of the stock. FMR LLC increased its holdings in Global Industrial by 14.7% in the 3rd quarter. FMR LLC now owns 2,534,156 shares of the company’s stock worth $86,085,000 after buying an additional 325,555 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Global Industrial by 101.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 177,884 shares of the company’s stock valued at $6,043,000 after buying an additional 89,780 shares in the last quarter. Millennium Management LLC lifted its position in shares of Global Industrial by 79.4% during the 2nd quarter. Millennium Management LLC now owns 126,107 shares of the company’s stock valued at $3,955,000 after buying an additional 55,801 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Global Industrial during the 2nd quarter valued at about $1,017,000. Finally, Barclays PLC lifted its position in shares of Global Industrial by 221.5% during the 3rd quarter. Barclays PLC now owns 30,622 shares of the company’s stock valued at $1,041,000 after buying an additional 21,097 shares in the last quarter. 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.