Short Interest in Global Industrial (NYSE:GIC) Decreases By 36.3%

Global Industrial (NYSE:GIC) saw a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 154,800 shares, a decline of 36.3% from the February 28th total of 242,900 shares. Approximately 2.0% of the company’s shares are sold short. Based on an average trading volume of 115,000 shares, the days-to-cover ratio is currently 1.3 days.

Global Industrial Price Performance

Shares of NYSE:GIC traded down $0.74 during trading on Friday, reaching $22.51. 78,022 shares of the company were exchanged, compared to its average volume of 86,327. Global Industrial has a 12-month low of $22.09 and a 12-month high of $45.69. The business’s fifty day simple moving average is $23.85 and its 200-day simple moving average is $27.24. The firm has a market capitalization of $862.53 million, a PE ratio of 13.24, a P/E/G ratio of 0.93 and a beta of 0.85.

Global Industrial (NYSE:GIC) last released its 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 firm had revenue of $302.30 million for the quarter, compared to analyst estimates of $306.07 million. On average, sell-side analysts anticipate that Global Industrial will post 1.59 EPS for the current fiscal year.

Global Industrial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.26 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.04 dividend on an annualized basis and a yield of 4.62%. This is a positive change from Global Industrial’s previous quarterly dividend of $0.25. Global Industrial’s dividend payout ratio (DPR) is currently 66.24%.

Institutional Trading of Global Industrial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GIC. J. Goldman & Co LP boosted its position in shares of Global Industrial by 559.7% during the 4th quarter. J. Goldman & Co LP now owns 494,650 shares of the company’s stock worth $12,262,000 after purchasing an additional 419,672 shares in the last quarter. FMR LLC lifted 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 worth $86,085,000 after purchasing an additional 325,555 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Global Industrial during the fourth quarter worth about $4,001,000. Bank of New York Mellon Corp increased 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 last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Global Industrial by 101.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 177,884 shares of the company’s stock valued at $6,043,000 after buying an additional 89,780 shares during the period. Institutional investors and hedge funds 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.