Global Industrial (NYSE:GIC) Sets New 1-Year Low – What’s Next?

Global Industrial (NYSE:GIC)’s share price hit a new 52-week low on Friday . The stock traded as low as $23.75 and last traded at $23.92, with a volume of 6101 shares trading hands. The stock had previously closed at $24.51.

Global Industrial Stock Down 2.0 %

The company has a 50 day moving average of $26.77 and a two-hundred day moving average of $30.67. The firm has a market cap of $918.31 million, a P/E ratio of 14.13, a PEG ratio of 1.04 and a beta of 0.88.

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 net margin of 4.92% and a return on equity of 24.53%. The business had revenue of $342.40 million for the quarter, compared to the consensus estimate of $353.44 million. During the same quarter last year, the business posted $0.54 EPS. Research analysts expect that Global Industrial will post 1.62 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Friday, November 8th. Global Industrial’s dividend payout ratio is 58.82%.

Insider Buying and Selling at Global Industrial

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

Hedge Funds Weigh In On Global Industrial

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC raised its position in Global Industrial by 14.7% during the third quarter. FMR LLC now owns 2,534,156 shares of the company’s stock valued at $86,085,000 after acquiring an additional 325,555 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings 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 worth $6,043,000 after purchasing an additional 89,780 shares in the last quarter. Millennium Management LLC grew its position in Global Industrial by 79.4% in the second quarter. Millennium Management LLC now owns 126,107 shares of the company’s stock valued at $3,955,000 after acquiring an additional 55,801 shares during the period. Edgestream Partners L.P. acquired a new position in Global Industrial during the second quarter worth $1,017,000. Finally, Barclays PLC lifted its holdings in shares of Global Industrial by 221.5% during the third quarter. Barclays PLC now owns 30,622 shares of the company’s stock valued at $1,041,000 after acquiring an additional 21,097 shares during the period. 31.19% of the stock is currently 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.