Short Interest in Global Industrial (NYSE:GIC) Decreases By 5.8%

Global Industrial (NYSE:GIC) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 280,100 shares, a decrease of 5.8% from the August 15th total of 297,300 shares. Based on an average daily volume of 65,900 shares, the short-interest ratio is presently 4.3 days. Currently, 3.6% of the company’s stock are sold short.

Institutional Trading of Global Industrial

Institutional investors have recently bought and sold shares of the business. Mawer Investment Management Ltd. raised its position in Global Industrial by 3.2% during the first quarter. Mawer Investment Management Ltd. now owns 2,002,426 shares of the company’s stock worth $89,669,000 after acquiring an additional 62,777 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Global Industrial by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,574 shares of the company’s stock worth $32,067,000 after purchasing an additional 6,602 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Global Industrial by 137.3% in the 1st quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock valued at $32,118,000 after purchasing an additional 414,924 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Global Industrial by 2.7% during the 2nd quarter. Renaissance Technologies LLC now owns 345,174 shares of the company’s stock worth $10,825,000 after purchasing an additional 9,200 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Global Industrial by 79.4% during the second quarter. Millennium Management LLC now owns 126,107 shares of the company’s stock worth $3,955,000 after acquiring an additional 55,801 shares during the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

Global Industrial Stock Up 0.1 %

GIC stock opened at $32.83 on Thursday. Global Industrial has a 52 week low of $30.13 and a 52 week high of $46.97. The stock has a market capitalization of $1.25 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.00 and a beta of 0.83. The firm has a 50 day moving average of $33.01 and a 200 day moving average of $36.22.

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The firm had revenue of $347.80 million for the quarter, compared to the consensus estimate of $348.84 million. Global Industrial had a return on equity of 26.82% and a net margin of 5.16%. During the same period in the prior year, the firm earned $0.56 EPS. On average, equities research analysts expect that Global Industrial will post 1.97 earnings per share for the current year.

Global Industrial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Friday, August 9th. Global Industrial’s payout ratio is currently 54.35%.

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.