Short Interest in Global Industrial (NYSE:GIC) Grows By 25.5%

Global Industrial (NYSE:GIC) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 246,300 shares, an increase of 25.5% from the May 31st total of 196,300 shares. Currently, 3.1% of the shares of the company are short sold. Based on an average daily trading volume, of 74,000 shares, the days-to-cover ratio is currently 3.3 days.

Institutional Investors Weigh In On Global Industrial

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC raised its position in shares of Global Industrial by 45.5% during the 4th quarter. SG Americas Securities LLC now owns 4,447 shares of the company’s stock worth $173,000 after purchasing an additional 1,390 shares during the last quarter. Leeward Financial Partners LLC purchased a new stake in Global Industrial in the 1st quarter worth approximately $224,000. Arizona State Retirement System purchased a new stake in Global Industrial in the 4th quarter worth approximately $206,000. Summit Global Investments purchased a new stake in Global Industrial in the 4th quarter worth approximately $255,000. Finally, Gallacher Capital Management LLC purchased a new stake in Global Industrial in the 1st quarter worth approximately $324,000. 31.19% of the stock is currently owned by institutional investors and hedge funds.

Global Industrial Trading Up 0.6 %

Shares of NYSE GIC traded up $0.20 during midday trading on Tuesday, reaching $30.98. 4,690 shares of the company were exchanged, compared to its average volume of 83,132. Global Industrial has a 1 year low of $26.36 and a 1 year high of $46.97. The stock has a fifty day simple moving average of $34.48 and a 200 day simple moving average of $39.46. The stock has a market cap of $1.18 billion, a P/E ratio of 16.74, a PEG ratio of 1.02 and a beta of 0.85.

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). The firm had revenue of $323.40 million during the quarter, compared to analyst estimates of $322.27 million. Global Industrial had a net margin of 5.34% and a return on equity of 28.39%. As a group, analysts forecast that Global Industrial will post 1.93 earnings per share for the current year.

Global Industrial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a yield of 3.23%. Global Industrial’s payout ratio is currently 54.35%.

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.