Global Industrial (NYSE:GIC) Hits New 12-Month Low – Time to Sell?

Shares of Global Industrial (NYSE:GIC) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $25.99 and last traded at $25.99, with a volume of 1595 shares trading hands. The stock had previously closed at $33.05.

Global Industrial Price Performance

The stock’s fifty day simple moving average is $33.10 and its 200-day simple moving average is $33.84. The company has a market capitalization of $1.09 billion, a P/E ratio of 15.52, a PEG ratio of 1.08 and a beta of 0.83.

Global Industrial (NYSE:GIC) last announced its earnings results on Tuesday, July 30th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. The company had revenue of $347.80 million for the quarter, compared to analysts’ expectations of $348.84 million. Global Industrial had a return on equity of 26.82% and a net margin of 5.16%. During the same quarter in the prior year, the business earned $0.56 earnings per share. On average, research analysts predict that Global Industrial will post 1.94 earnings per share for the current year.

Hedge Funds Weigh In On Global Industrial

Hedge funds have recently added to or reduced their stakes in the company. Copeland Capital Management LLC bought a new position in Global Industrial in the third quarter valued at about $61,000. Point72 Asset Management L.P. boosted its holdings in Global Industrial by 173.0% in the second quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock valued at $111,000 after acquiring an additional 2,249 shares during the last quarter. National Bank of Canada FI boosted its holdings 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 valued at $153,000 after acquiring an additional 1,472 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Global Industrial by 12.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock valued at $252,000 after acquiring an additional 919 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Global Industrial in the second quarter valued at about $268,000. 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.