Global Industrial (NYSE:GIC) Sets New 12-Month Low – What’s Next?

Shares of Global Industrial (NYSE:GIC) hit a new 52-week low on Thursday . The stock traded as low as $24.05 and last traded at $24.05, with a volume of 69767 shares trading hands. The stock had previously closed at $24.79.

Global Industrial Price Performance

The stock has a market cap of $920.98 million, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.07 and a beta of 0.86. The stock’s 50-day moving average is $27.59 and its 200-day moving average is $30.98.

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 analysts’ consensus estimates of $0.58 by ($0.14). Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. The business had revenue of $342.40 million during the quarter, compared to analyst estimates of $353.44 million. During the same period in the previous year, the business posted $0.54 earnings per share. Analysts predict that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Friday, November 8th. Global Industrial’s dividend payout ratio is presently 58.82%.

Insider Activity

In related news, Vice Chairman Bruce Leeds sold 5,840 shares of the company’s stock in a transaction on 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 directly owns 23,675 shares of the company’s stock, valued at $669,529. This represents a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 65.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers grew its position in shares of Global Industrial by 2.1% during the 2nd quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock valued at $619,000 after buying an additional 397 shares during the last quarter. National Bank of Canada FI increased its position in Global Industrial by 41.8% in the second quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock worth $153,000 after buying an additional 1,472 shares during the period. Acadian Asset Management LLC lifted its stake in Global Industrial by 17.9% in the second quarter. Acadian Asset Management LLC now owns 20,088 shares of the company’s stock valued at $629,000 after buying an additional 3,048 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Global Industrial during the second quarter valued at $268,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Global Industrial by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,022,574 shares of the company’s stock worth $32,067,000 after acquiring an additional 6,602 shares during the last quarter. Institutional investors and hedge funds 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.