Global Industrial (NYSE:GIC) Sets New 52-Week Low – Here’s Why

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

Global Industrial Trading Up 0.8 %

The company has a market cap of $923.64 million, a PE ratio of 14.21, a P/E/G ratio of 1.04 and a beta of 0.86. The company has a fifty day simple moving average of $27.21 and a two-hundred day simple moving average of $30.88.

Global Industrial (NYSE:GIC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.14). The firm had revenue of $342.40 million for 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 firm earned $0.54 EPS. On average, research analysts anticipate that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Friday, November 8th. Global Industrial’s dividend payout ratio (DPR) is 58.82%.

Insider Buying and Selling at Global Industrial

In other news, Vice Chairman Bruce Leeds sold 5,840 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $669,529. The trade was a 19.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 65.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Global Industrial

A number of institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in Global Industrial by 39.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 46,005 shares of the company’s stock valued at $1,563,000 after acquiring an additional 13,105 shares during the period. Barclays PLC increased its holdings in shares of Global Industrial by 221.5% in the third quarter. Barclays PLC now owns 30,622 shares of the company’s stock valued at $1,041,000 after purchasing an additional 21,097 shares during the period. Geode Capital Management LLC raised its stake in shares of Global Industrial by 3.5% during the third quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock worth $10,740,000 after purchasing an additional 10,601 shares during the last quarter. State Street Corp raised its stake in shares of Global Industrial by 2.6% during the third quarter. State Street Corp now owns 315,779 shares of the company’s stock worth $10,727,000 after purchasing an additional 8,136 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Global Industrial by 101.9% during the third 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 during the period. 31.19% of the stock is owned by institutional investors and hedge funds.

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.