Global Industrial (NYSE:GIC) Hits New 1-Year Low – What’s Next?

Global Industrial (NYSE:GIC) shares reached a new 52-week low on Friday . The company traded as low as $25.00 and last traded at $25.33, with a volume of 19554 shares trading hands. The stock had previously closed at $25.32.

Global Industrial Price Performance

The stock’s 50 day simple moving average is $29.01 and its two-hundred day simple moving average is $31.46. The stock has a market capitalization of $963.42 million, a PE ratio of 14.82, a PEG ratio of 1.07 and a beta of 0.86.

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.44 earnings per share 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 24.53%. The firm had revenue of $342.40 million for the quarter, compared to the consensus estimate of $353.44 million. During the same period last year, the company posted $0.54 earnings per share. As a group, equities research analysts predict that Global Industrial will post 1.62 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Friday, November 8th. Global Industrial’s dividend payout ratio (DPR) is presently 58.82%.

Insiders Place Their Bets

In other Global Industrial news, Vice Chairman Bruce Leeds sold 5,840 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 65.30% of the company’s stock.

Hedge Funds Weigh In On Global Industrial

Several hedge funds have recently made changes to their positions in GIC. Barclays PLC boosted its stake in Global Industrial by 221.5% in the 3rd quarter. Barclays PLC now owns 30,622 shares of the company’s stock worth $1,041,000 after purchasing an additional 21,097 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Global Industrial by 3.5% in the third quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock worth $10,740,000 after buying an additional 10,601 shares in the last quarter. State Street Corp grew its stake in Global Industrial by 2.6% during the third quarter. State Street Corp now owns 315,779 shares of the company’s stock valued at $10,727,000 after acquiring an additional 8,136 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in Global Industrial by 101.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 177,884 shares of the company’s stock valued at $6,043,000 after acquiring an additional 89,780 shares in the last quarter. Finally, FMR LLC increased its holdings in Global Industrial by 14.7% during the 3rd quarter. FMR LLC now owns 2,534,156 shares of the company’s stock worth $86,085,000 after acquiring an additional 325,555 shares during the period. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

Global Industrial Company Profile

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.