Global Industrial (NYSE:GIC) Short Interest Down 8.0% in July

Global Industrial (NYSE:GIC) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 267,200 shares, a decline of 8.0% from the July 15th total of 290,400 shares. Approximately 3.4% of the shares of the stock are sold short. Based on an average trading volume of 74,400 shares, the short-interest ratio is presently 3.6 days.

Hedge Funds Weigh In On Global Industrial

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Global Industrial by 137.3% during the 1st quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock worth $32,118,000 after purchasing an additional 414,924 shares during the period. Hillsdale Investment Management Inc. purchased a new position in shares of Global Industrial during the 1st quarter worth about $3,824,000. Los Angeles Capital Management LLC boosted its position in Global Industrial by 175.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 44,730 shares of the company’s stock valued at $1,737,000 after buying an additional 28,520 shares during the period. Jump Financial LLC boosted its position in Global Industrial by 94.1% in the 4th quarter. Jump Financial LLC now owns 11,841 shares of the company’s stock valued at $460,000 after buying an additional 5,741 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Global Industrial by 3.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company’s stock valued at $576,000 after buying an additional 459 shares during the period. 31.19% of the stock is owned by hedge funds and other institutional investors.

Global Industrial Stock Performance

Shares of NYSE GIC opened at $32.42 on Wednesday. The company has a market cap of $1.24 billion, a P/E ratio of 17.62, a P/E/G ratio of 1.10 and a beta of 0.85. The firm’s fifty day moving average is $32.56 and its two-hundred day moving average is $37.85. Global Industrial has a 52-week low of $30.13 and a 52-week high of $46.97.

Global Industrial (NYSE:GIC) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. Global Industrial had a net margin of 5.16% and a return on equity of 26.82%. The business had revenue of $347.80 million during the quarter, compared to analysts’ expectations of $348.84 million. During the same period last year, the company posted $0.56 EPS. As a group, analysts forecast that Global Industrial will post 1.97 EPS for the current fiscal year.

Global Industrial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.08%. Global Industrial’s dividend payout ratio is presently 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.