Global Industrial (NYSE:GIC) Sees Significant Decrease in Short Interest

Global Industrial (NYSE:GIC) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 280,100 shares, a decline of 5.8% from the August 15th total of 297,300 shares. Approximately 3.6% of the company’s shares are short sold. Based on an average daily volume of 65,900 shares, the short-interest ratio is currently 4.3 days.

Institutional Trading of Global Industrial

Several large investors have recently added to or reduced their stakes in GIC. Vanguard Group Inc. grew its position in shares of Global Industrial by 137.3% during the first quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock worth $32,118,000 after purchasing an additional 414,924 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Global Industrial during the 1st quarter valued at about $3,824,000. Mawer Investment Management Ltd. raised its holdings in shares of Global Industrial by 3.2% in the first quarter. Mawer Investment Management Ltd. now owns 2,002,426 shares of the company’s stock worth $89,669,000 after buying an additional 62,777 shares during the period. Millennium Management LLC lifted its position in shares of Global Industrial by 79.4% during the second quarter. Millennium Management LLC now owns 126,107 shares of the company’s stock worth $3,955,000 after purchasing an additional 55,801 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in Global Industrial in the 2nd quarter valued at about $1,017,000. 31.19% of the stock is currently owned by institutional investors.

Global Industrial Trading Down 0.1 %

Shares of NYSE:GIC opened at $32.78 on Wednesday. The company has a 50-day moving average price of $33.01 and a 200-day moving average price of $36.22. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.00 and a beta of 0.83. Global Industrial has a 12 month low of $30.13 and a 12 month high of $46.97.

Global Industrial (NYSE:GIC) last announced its earnings results on Tuesday, July 30th. The company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. Global Industrial had a net margin of 5.16% and a return on equity of 26.82%. The firm 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 business posted $0.56 EPS. As a group, research analysts forecast that Global Industrial will post 1.97 EPS for the current fiscal year.

Global Industrial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 3.05%. Global Industrial’s payout ratio is 54.35%.

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.