Global Industrial (NYSE:GIC) Hits New 52-Week Low – Here’s Why

Global Industrial (NYSE:GIC) hit a new 52-week low during trading 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 Stock Down 0.3 %

The firm has a 50-day moving average price of $29.16 and a two-hundred day moving average price of $31.52. The company has a market capitalization of $965.33 million, a P/E ratio of 14.85, a PEG ratio of 1.07 and a beta of 0.86.

Global Industrial (NYSE:GIC) last issued its quarterly 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 company 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 24.53%. During the same period last year, the company earned $0.54 earnings per share. On average, analysts predict that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Announces Dividend

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

Insiders Place Their Bets

In related news, Vice Chairman Bruce Leeds sold 5,840 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total value of $165,155.20. Following the sale, the insider now owns 23,675 shares of the company’s stock, valued at $669,529. The trade was a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 65.30% of the company’s stock.

Institutional Investors Weigh In On Global Industrial

Several large investors have recently modified their holdings of the stock. FMR LLC boosted its stake in 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Global Industrial by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,574 shares of the company’s stock worth $32,067,000 after purchasing an additional 6,602 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Global Industrial by 2.7% in the 2nd quarter. Renaissance Technologies LLC now owns 345,174 shares of the company’s stock worth $10,825,000 after purchasing an additional 9,200 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Global Industrial by 3.5% during the 3rd 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 during the last quarter. Finally, State Street Corp boosted its position in Global Industrial by 2.6% in the third quarter. State Street Corp now owns 315,779 shares of the company’s stock valued at $10,727,000 after buying an additional 8,136 shares in the last quarter. 31.19% of the stock is currently owned by institutional investors.

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.