Global Industrial (NYSE:GIC) Reaches New 52-Week Low – Here’s Why

Global Industrial (NYSE:GIC) shares hit a new 52-week low on Friday . The company traded as low as $23.75 and last traded at $23.92, with a volume of 6101 shares changing hands. The stock had previously closed at $24.51.

Global Industrial Stock Down 2.0 %

The stock has a fifty day moving average of $26.77 and a 200-day moving average of $30.67. The stock has a market capitalization of $918.31 million, a price-to-earnings ratio of 14.13, a P/E/G ratio of 1.04 and a beta of 0.88.

Global Industrial (NYSE:GIC) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.14). The company had revenue of $342.40 million for the quarter, compared to analysts’ expectations of $353.44 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. During the same quarter last year, the company earned $0.54 EPS. On average, equities analysts forecast that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Friday, November 8th. Global Industrial’s dividend payout ratio (DPR) is presently 58.82%.

Insider Transactions at Global Industrial

In other news, Vice Chairman Bruce Leeds sold 5,840 shares of Global Industrial 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 completion of the sale, the insider now directly owns 23,675 shares in the company, valued at $669,529. The trade was a 19.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 65.30% of the company’s stock.

Institutional Trading of Global Industrial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in shares of Global Industrial by 39.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 46,005 shares of the company’s stock valued at $1,563,000 after buying an additional 13,105 shares during the period. Barclays PLC boosted its holdings in 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 acquiring an additional 21,097 shares during the last quarter. Geode Capital Management LLC increased its stake in Global Industrial by 3.5% during the third quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock worth $10,740,000 after acquiring an additional 10,601 shares during the last quarter. State Street Corp raised 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 valued at $10,727,000 after purchasing an additional 8,136 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in Global Industrial by 101.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 177,884 shares of the company’s stock valued at $6,043,000 after buying an additional 89,780 shares during the last quarter. Hedge funds and other 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.