Global Industrial (NYSE:GIC) Sees Strong Trading Volume – Here’s What Happened

by · The Markets Daily

Global Industrial (NYSE:GIC – Get Free Report) shares saw strong trading volume on Wednesday . 411,870 shares were traded during mid-day trading, an increase of 423% from the previous session’s volume of 78,825 shares.The stock last traded at $29.54 and had previously closed at $26.97.

Global Industrial Stock Performance

The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 1.03 and a beta of 0.86. The business has a 50 day simple moving average of $32.41 and a 200-day simple moving average of $33.35.

Global Industrial (NYSE:GIC – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). The company had revenue of $342.40 million for the quarter, compared to analyst estimates of $353.44 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. During the same quarter last year, the firm posted $0.54 EPS. As a group, research analysts anticipate that Global Industrial will post 1.62 earnings per share for the current year.

Global Industrial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Monday, November 11th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 3.36%. Global Industrial’s dividend payout ratio is currently 58.82%.

Hedge Funds Weigh In On Global Industrial

Several hedge funds have recently modified their holdings of the company. Rhumbline Advisers lifted its position in shares of Global Industrial by 2.1% during the 2nd quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock worth $619,000 after buying an additional 397 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Global Industrial by 3.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company’s stock worth $576,000 after buying an additional 459 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Global Industrial by 12.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock worth $252,000 after buying an additional 919 shares in the last quarter. Quadrature Capital Ltd lifted its position in shares of Global Industrial by 14.2% during the 1st quarter. Quadrature Capital Ltd now owns 8,918 shares of the company’s stock worth $399,000 after buying an additional 1,106 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Global Industrial by 41.8% during the 2nd quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock worth $153,000 after buying an additional 1,472 shares in the last quarter. Institutional investors own 31.19% of the company’s stock.

About Global Industrial

(Get Free Report)

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.

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