Global Industrial (NYSE:GIC) Hits New 1-Year Low – Here’s What Happened

Shares of Global Industrial (NYSE:GIC) reached a new 52-week low on Friday . The stock traded as low as $25.00 and last traded at $25.33, with a volume of 19554 shares traded. The stock had previously closed at $25.32.

Global Industrial Trading Down 0.3 %

The stock has a market cap of $965.33 million, a price-to-earnings ratio of 14.85, a P/E/G ratio of 1.07 and a beta of 0.86. The firm has a fifty day simple moving average of $29.16 and a 200-day simple moving average of $31.52.

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). The firm had revenue of $342.40 million for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.54 EPS. On average, equities analysts predict that Global Industrial will post 1.62 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Friday, November 8th. Global Industrial’s dividend payout ratio (DPR) is presently 58.82%.

Insider Transactions at Global Industrial

In related news, Vice Chairman Bruce Leeds sold 5,840 shares of the company’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 owns 23,675 shares in the company, valued at approximately $669,529. This represents a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 65.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Global Industrial

Several institutional investors have recently modified their holdings of the stock. Barclays PLC raised its position in shares of Global Industrial by 221.5% in the 3rd quarter. Barclays PLC now owns 30,622 shares of the company’s stock valued at $1,041,000 after acquiring an additional 21,097 shares during the period. Geode Capital Management LLC increased its stake in Global Industrial by 3.5% in the third quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock valued at $10,740,000 after purchasing an additional 10,601 shares in the last quarter. State Street Corp raised its holdings in Global Industrial by 2.6% in 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 period. Hotchkis & Wiley Capital Management LLC boosted its position 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 in the last quarter. Finally, FMR LLC grew its holdings in shares of Global Industrial by 14.7% in the 3rd quarter. FMR LLC now owns 2,534,156 shares of the company’s stock valued at $86,085,000 after buying an additional 325,555 shares during the period. 31.19% of the stock is currently 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.