Global Industrial (NYSE:GIC) Sets New 12-Month Low – Time to Sell?

Shares of Global Industrial (NYSE:GIC) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $22.80 and last traded at $22.93, with a volume of 4892 shares traded. The stock had previously closed at $23.27.

Global Industrial Stock Down 0.4 %

The company has a market cap of $887.67 million, a P/E ratio of 13.63, a PEG ratio of 0.93 and a beta of 0.87. The business has a fifty day moving average price of $24.50 and a 200-day moving average price of $28.51.

Global Industrial (NYSE:GIC) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. The business had revenue of $302.30 million for the quarter, compared to the consensus estimate of $306.07 million. As a group, research analysts expect that Global Industrial will post 1.59 earnings per share for the current year.

Global Industrial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date is Monday, March 10th. This is a positive change from Global Industrial’s previous quarterly dividend of $0.25. Global Industrial’s dividend payout ratio (DPR) is 66.24%.

Institutional Trading of Global Industrial

A number of institutional investors have recently modified their holdings of the stock. J. Goldman & Co LP grew its stake in Global Industrial by 559.7% during the fourth quarter. J. Goldman & Co LP now owns 494,650 shares of the company’s stock worth $12,262,000 after buying an additional 419,672 shares in the last quarter. FMR LLC raised its stake in shares of Global Industrial by 14.7% during the third quarter. FMR LLC now owns 2,534,156 shares of the company’s stock valued at $86,085,000 after acquiring an additional 325,555 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Global Industrial in the 4th quarter valued at about $4,001,000. Bank of New York Mellon Corp lifted its position in shares of Global Industrial by 65.6% in the 4th quarter. Bank of New York Mellon Corp now owns 319,282 shares of the company’s stock worth $7,915,000 after purchasing an additional 126,431 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in Global Industrial by 101.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 177,884 shares of the company’s stock worth $6,043,000 after acquiring an additional 89,780 shares during the period. 31.19% of the stock is currently owned by institutional investors.

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.