Global Industrial (NYSE:GIC) Hits New 52-Week Low – What’s Next?

Global Industrial (NYSE:GIC) shares hit a new 52-week low during mid-day trading on Tuesday . The company 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 Price Performance

The stock has a market capitalization of $887.67 million, a price-to-earnings ratio of 13.63, a PEG ratio of 0.93 and a beta of 0.87. The business’s fifty day moving average price is $24.50 and its 200-day moving average price is $28.51.

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

Global Industrial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date is Monday, March 10th. This is an increase 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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its stake in shares of Global Industrial by 340.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company’s stock valued at $39,000 after acquiring an additional 1,206 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in Global Industrial in the fourth quarter worth about $50,000. Quantbot Technologies LP lifted its stake in shares of Global Industrial by 150.3% in the fourth quarter. Quantbot Technologies LP now owns 3,614 shares of the company’s stock worth $90,000 after buying an additional 2,170 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Global Industrial by 44.4% during the fourth quarter. Wells Fargo & Company MN now owns 7,058 shares of the company’s stock valued at $175,000 after buying an additional 2,170 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Global Industrial by 13.6% in the 4th quarter. MetLife Investment Management LLC now owns 8,215 shares of the company’s stock worth $204,000 after acquiring an additional 982 shares during the last quarter. Hedge funds and other 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.