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

Global Industrial (NYSE:GIC) was the recipient of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 154,800 shares, a decrease of 36.3% from the February 28th total of 242,900 shares. Based on an average trading volume of 115,000 shares, the short-interest ratio is currently 1.3 days. Approximately 2.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GIC. Tower Research Capital LLC TRC boosted its holdings in shares of Global Industrial by 340.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company’s stock valued at $39,000 after acquiring an additional 1,206 shares during the period. New Age Alpha Advisors LLC bought a new stake in Global Industrial in the 4th quarter valued at about $50,000. Quantbot Technologies LP lifted its position in Global Industrial by 150.3% in the 4th quarter. Quantbot Technologies LP now owns 3,614 shares of the company’s stock valued at $90,000 after purchasing an additional 2,170 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Global Industrial by 44.4% during the 4th quarter. Wells Fargo & Company MN now owns 7,058 shares of the company’s stock valued at $175,000 after purchasing an additional 2,170 shares during the period. Finally, MetLife Investment Management LLC grew its position in Global Industrial by 13.6% in the 4th quarter. MetLife Investment Management LLC now owns 8,215 shares of the company’s stock worth $204,000 after purchasing an additional 982 shares during the last quarter. 31.19% of the stock is currently owned by institutional investors.

Global Industrial Trading Down 0.5 %

NYSE GIC traded down $0.12 during trading hours on Monday, reaching $22.41. 118,729 shares of the company traded hands, compared to its average volume of 86,456. The stock has a market capitalization of $858.55 million, a PE ratio of 13.18, a PEG ratio of 0.93 and a beta of 0.85. Global Industrial has a 12 month low of $22.09 and a 12 month high of $45.69. The company has a 50 day moving average of $23.85 and a two-hundred day moving average of $27.21.

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). The business had revenue of $302.30 million during the quarter, compared to the consensus estimate of $306.07 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. On average, equities research analysts anticipate that Global Industrial will post 1.59 earnings per share for the current year.

Global Industrial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.26 dividend. This is an increase from Global Industrial’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 10th. This represents a $1.04 annualized dividend and a dividend yield of 4.64%. Global Industrial’s dividend payout ratio (DPR) is 66.24%.

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.