Global Industrial (NYSE:GIC) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Global Industrial (NYSE:GIC) saw unusually-strong trading volume on Tuesday . Approximately 147,400 shares changed hands during trading, an increase of 23% from the previous session’s volume of 119,601 shares.The stock last traded at $24.31 and had previously closed at $24.21.

Global Industrial Stock Performance

The company has a market capitalization of $922.13 million, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 1.04 and a beta of 0.88. The firm’s fifty day moving average is $26.66 and its 200-day moving average is $30.56.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share (EPS) 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 company 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 firm posted $0.54 earnings per share. As a group, analysts expect that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 4.15%. Global Industrial’s dividend payout ratio is presently 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 that occurred on Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 65.30% of the stock is owned by corporate insiders.

Institutional Trading of Global Industrial

Several institutional investors have recently made changes to their positions in GIC. Rhumbline Advisers grew its position in Global Industrial by 2.1% during the second quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock valued at $619,000 after buying an additional 397 shares during the period. Acadian Asset Management LLC lifted its holdings in Global Industrial by 17.9% during the second quarter. Acadian Asset Management LLC now owns 20,088 shares of the company’s stock valued at $629,000 after purchasing an additional 3,048 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Global Industrial by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,022,574 shares of the company’s stock valued at $32,067,000 after purchasing an additional 6,602 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Global Industrial by 2.7% during the second quarter. Renaissance Technologies LLC now owns 345,174 shares of the company’s stock valued at $10,825,000 after purchasing an additional 9,200 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in Global Industrial during the second quarter valued at about $1,017,000. Institutional investors own 31.19% of the company’s stock.

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.