Global Industrial (NYSE:GIC) Short Interest Update

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

Global Industrial Stock Performance

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

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.03). The business had revenue of $302.30 million for the quarter, compared to analyst estimates of $306.07 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. Equities research analysts anticipate that Global Industrial will post 1.59 EPS for the current fiscal year.

Global Industrial Increases Dividend

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

Institutional Investors Weigh In On Global Industrial

Several hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in Global Industrial by 340.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company’s stock worth $39,000 after purchasing an additional 1,206 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Global Industrial in the fourth quarter worth approximately $50,000. Quantbot Technologies LP increased its position in shares of Global Industrial by 150.3% in the fourth quarter. Quantbot Technologies LP now owns 3,614 shares of the company’s stock worth $90,000 after acquiring an additional 2,170 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Global Industrial by 44.4% during the fourth quarter. Wells Fargo & Company MN now owns 7,058 shares of the company’s stock valued at $175,000 after acquiring an additional 2,170 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Global Industrial by 13.6% in the 4th quarter. MetLife Investment Management LLC now owns 8,215 shares of the company’s stock valued at $204,000 after acquiring an additional 982 shares in the last quarter. 31.19% of the stock is owned by hedge funds and other institutional investors.

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.