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

Global Industrial (NYSE:GIC) shares saw unusually-strong trading volume on Thursday . Approximately 142,823 shares traded 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 Trading Up 0.6 %

The firm’s 50 day simple moving average is $32.70 and its 200-day simple moving average is $33.63. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 0.91 and a beta of 0.83.

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

Global Industrial Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GIC. Mawer Investment Management Ltd. lifted its holdings in Global Industrial by 3.2% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,002,426 shares of the company’s stock valued at $89,669,000 after purchasing an additional 62,777 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Global Industrial by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,022,574 shares of the company’s stock valued at $32,067,000 after purchasing an additional 6,602 shares during the period. Vanguard Group Inc. lifted its stake in shares of Global Industrial by 137.3% during the 1st quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock worth $32,118,000 after buying an additional 414,924 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Global Industrial by 2.7% during the 2nd quarter. Renaissance Technologies LLC now owns 345,174 shares of the company’s stock worth $10,825,000 after buying an additional 9,200 shares during the period. Finally, Millennium Management LLC grew its stake in Global Industrial by 79.4% in the 2nd quarter. Millennium Management LLC now owns 126,107 shares of the company’s stock valued at $3,955,000 after buying an additional 55,801 shares during the last quarter. Institutional investors own 31.19% of the company’s stock.

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.