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

Global Industrial (NYSE:GIC)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $22.60 and last traded at $22.60, with a volume of 2671 shares changing hands. The stock had previously closed at $22.89.

Global Industrial Trading Up 1.7 %

The business’s fifty day moving average is $24.18 and its 200 day moving average is $27.95. The firm has a market capitalization of $861.00 million, a P/E ratio of 13.22, a P/E/G ratio of 0.93 and a beta of 0.85.

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). Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. The company had revenue of $302.30 million during the quarter, compared to analysts’ expectations of $306.07 million. As a group, sell-side analysts predict that Global Industrial will post 1.59 earnings per share for the current fiscal year.

Global Industrial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $0.26 dividend. This is a positive change from Global Industrial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.63%. Global Industrial’s dividend payout ratio (DPR) is currently 66.24%.

Institutional Inflows and Outflows

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

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.