Global Industrial (NYSE:GIC) Reaches New 12-Month Low – Here’s Why

Global Industrial (NYSE:GIC)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $21.51 and last traded at $21.70, with a volume of 8803 shares. The stock had previously closed at $22.87.

Global Industrial Stock Down 4.6 %

The stock’s 50-day moving average price is $23.70 and its 200 day moving average price is $27.04. The firm has a market capitalization of $835.56 million, a price-to-earnings ratio of 12.83, a PEG ratio of 0.93 and a beta of 0.85.

Global Industrial (NYSE:GIC) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The company had revenue of $302.30 million during the quarter, compared to analysts’ expectations of $306.07 million. On average, sell-side analysts anticipate that Global Industrial will post 1.59 earnings per share for the current year.

Global Industrial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.77%. This is a boost from Global Industrial’s previous quarterly dividend of $0.25. Global Industrial’s dividend payout ratio (DPR) is presently 66.24%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GIC. Amiral Gestion acquired a new stake in shares of Global Industrial in the fourth quarter valued at $992,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Global Industrial by 50.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,446 shares of the company’s stock valued at $1,102,000 after acquiring an additional 14,999 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Global Industrial by 24.7% during the fourth quarter. Two Sigma Investments LP now owns 68,842 shares of the company’s stock worth $1,707,000 after purchasing an additional 13,630 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Global Industrial by 4.8% during the 4th quarter. Nuveen Asset Management LLC now owns 57,688 shares of the company’s stock worth $1,430,000 after buying an additional 2,645 shares during the period. Finally, Numerai GP LLC acquired a new position in shares of Global Industrial in the fourth quarter worth $1,506,000. 31.19% of the stock is currently owned by institutional investors and hedge funds.

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.