Global Industrial (NYSE:GIC) Sees Large Volume Increase – Should You Buy?

Shares of Global Industrial (NYSE:GIC) saw unusually-high trading volume on Thursday . Approximately 142,823 shares changed hands during mid-day trading, an increase of 88% from the previous session’s volume of 76,135 shares.The stock last traded at $27.40 and had previously closed at $26.24.

Global Industrial Price Performance

The stock has a market capitalization of $1.02 billion, a P/E ratio of 15.69, a PEG ratio of 0.91 and a beta of 0.83. The business’s 50 day simple moving average is $32.70 and its 200-day simple moving average is $33.63.

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). The business had revenue of $342.40 million during the quarter, compared to the consensus estimate of $353.44 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.93%. During the same period in the previous year, the business posted $0.54 earnings per share. Research analysts anticipate that Global Industrial will post 1.81 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Monday, November 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 3.75%. Global Industrial’s dividend payout ratio (DPR) is presently 58.82%.

Institutional Investors Weigh In On Global Industrial

Several hedge funds have recently bought and sold shares of GIC. Vanguard Group Inc. raised its holdings in shares of Global Industrial by 137.3% during the first quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock worth $32,118,000 after acquiring an additional 414,924 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in shares of Global Industrial during the first quarter worth $3,824,000. Mawer Investment Management Ltd. raised its holdings in shares of Global Industrial by 3.2% during the first quarter. Mawer Investment Management Ltd. now owns 2,002,426 shares of the company’s stock worth $89,669,000 after acquiring an additional 62,777 shares during the period. Millennium Management LLC raised its holdings in shares of Global Industrial by 79.4% during the second quarter. Millennium Management LLC now owns 126,107 shares of the company’s stock worth $3,955,000 after acquiring an additional 55,801 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in shares of Global Industrial during the second quarter worth $1,017,000. 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.