Global Industrial (NYSE:GIC) Sets New 52-Week Low – Time to Sell?

Shares of Global Industrial (NYSE:GIC) reached a new 52-week low during trading on Thursday . The company traded as low as $22.60 and last traded at $22.60, with a volume of 2671 shares traded. The stock had previously closed at $22.89.

Global Industrial Price Performance

The stock has a market capitalization of $861.00 million, a price-to-earnings ratio of 13.22, a P/E/G ratio of 0.93 and a beta of 0.85. The company’s 50-day simple moving average is $24.18 and its 200-day simple moving average is $27.95.

Global Industrial (NYSE:GIC) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.03). The firm had revenue of $302.30 million for the quarter, compared to analyst estimates of $306.07 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. Research analysts expect that Global Industrial will post 1.59 earnings per share for the current year.

Global Industrial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Monday, March 10th. This is an increase from Global Industrial’s previous quarterly dividend of $0.25. Global Industrial’s payout ratio is presently 66.24%.

Hedge Funds Weigh In On Global Industrial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amiral Gestion purchased a new position in Global Industrial in the 4th quarter worth approximately $992,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Global Industrial by 50.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,446 shares of the company’s stock valued at $1,102,000 after acquiring an additional 14,999 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of Global Industrial by 24.7% in the 4th quarter. Two Sigma Investments LP now owns 68,842 shares of the company’s stock worth $1,707,000 after acquiring an additional 13,630 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Global Industrial by 4.8% in the 4th quarter. Nuveen Asset Management LLC now owns 57,688 shares of the company’s stock worth $1,430,000 after buying an additional 2,645 shares during the last quarter. Finally, Numerai GP LLC bought a new stake in Global Industrial in the fourth quarter worth $1,506,000. 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.