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

Global Industrial (NYSE:GIC) hit a new 52-week low during trading on Thursday . The company traded as low as $24.05 and last traded at $24.05, with a volume of 69767 shares changing hands. The stock had previously closed at $24.79.

Global Industrial Price Performance

The firm’s fifty day simple moving average is $27.21 and its 200 day simple moving average is $30.88. The company has a market capitalization of $923.64 million, a PE ratio of 14.21, a price-to-earnings-growth ratio of 1.04 and a beta of 0.86.

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

Global Industrial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.14%. Global Industrial’s payout ratio is currently 58.82%.

Insider Transactions at Global Industrial

In other news, Vice Chairman Bruce Leeds sold 5,840 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total value of $165,155.20. Following the completion of the sale, the insider now directly owns 23,675 shares in the company, valued at $669,529. This represents a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 65.30% of the company’s stock.

Institutional Trading of Global Industrial

Several institutional investors have recently made changes to their positions in GIC. Copeland Capital Management LLC acquired a new stake in Global Industrial in the 3rd quarter valued at approximately $61,000. Point72 Asset Management L.P. grew its stake in shares of Global Industrial by 173.0% in the second quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock valued at $111,000 after buying an additional 2,249 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Global Industrial by 41.8% in the 2nd quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock valued at $153,000 after buying an additional 1,472 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Global Industrial by 12.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock valued at $252,000 after acquiring an additional 919 shares during the period. Finally, Quest Partners LLC acquired a new position in Global Industrial in the 2nd quarter valued at about $268,000. 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.