Global Industrial (NYSE:GIC) Hits New 1-Year Low – Should You Sell?

Global Industrial (NYSE:GIC)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $23.75 and last traded at $23.92, with a volume of 6101 shares traded. The stock had previously closed at $24.51.

Global Industrial Stock Performance

The company has a market cap of $894.22 million, a P/E ratio of 13.76, a P/E/G ratio of 1.04 and a beta of 0.88. The firm has a 50 day moving average price of $26.71 and a 200-day moving average price of $30.61.

Global Industrial (NYSE:GIC) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $353.44 million. During the same period in the prior year, the business earned $0.54 EPS. On average, sell-side analysts forecast that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Friday, November 8th. Global Industrial’s dividend payout ratio is currently 58.82%.

Insider Buying and Selling

In other news, Vice Chairman Bruce Leeds sold 5,840 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total transaction of $165,155.20. Following the transaction, the insider now owns 23,675 shares in the company, valued at approximately $669,529. The trade was a 19.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 65.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Global Industrial

A number of institutional investors have recently added to or reduced their stakes in GIC. JPMorgan Chase & Co. lifted its position in shares of Global Industrial by 39.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 46,005 shares of the company’s stock worth $1,563,000 after acquiring an additional 13,105 shares during the period. Barclays PLC raised its stake in shares of Global Industrial by 221.5% in the third quarter. Barclays PLC now owns 30,622 shares of the company’s stock valued at $1,041,000 after purchasing an additional 21,097 shares in the last quarter. Geode Capital Management LLC lifted its position in 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 purchasing an additional 10,601 shares during the period. State Street Corp lifted 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 worth $10,727,000 after purchasing an additional 8,136 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted 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 worth $6,043,000 after buying an additional 89,780 shares in the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

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.