Global Industrial (NYSE:GIC) Hits New 52-Week Low – Time to Sell?

Global Industrial (NYSE:GIC) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $21.51 and last traded at $21.70, with a volume of 8803 shares traded. The stock had previously closed at $22.87.

Global Industrial Stock Performance

The company has a 50-day moving average of $23.56 and a 200 day moving average of $26.93. The firm has a market cap of $839.24 million, a P/E ratio of 12.89, a P/E/G ratio of 0.93 and a beta of 0.85.

Global Industrial (NYSE:GIC) last issued its earnings results on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.03). The firm had revenue of $302.30 million during the quarter, compared to analyst estimates of $306.07 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. Sell-side analysts anticipate that Global Industrial will post 1.59 EPS for the current fiscal year.

Global Industrial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.26 per share. This is a positive change from Global Industrial’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 10th. This represents a $1.04 annualized dividend and a dividend yield of 4.75%. Global Industrial’s dividend payout ratio (DPR) is presently 66.24%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC raised its position in Global Industrial by 221.5% in the 3rd quarter. Barclays PLC now owns 30,622 shares of the company’s stock valued at $1,041,000 after purchasing an additional 21,097 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Global Industrial by 39.8% in the third quarter. JPMorgan Chase & Co. now owns 46,005 shares of the company’s stock valued at $1,563,000 after buying an additional 13,105 shares during the last quarter. New York State Common Retirement Fund lifted its position in Global Industrial by 34.6% during the 4th quarter. New York State Common Retirement Fund now owns 37,772 shares of the company’s stock worth $936,000 after buying an additional 9,700 shares in the last quarter. FMR LLC grew its holdings in Global Industrial by 14.7% during the 3rd quarter. FMR LLC now owns 2,534,156 shares of the company’s stock worth $86,085,000 after acquiring an additional 325,555 shares during the last quarter. Finally, State Street Corp increased its position in Global Industrial by 2.6% in the 3rd quarter. State Street Corp now owns 315,779 shares of the company’s stock valued at $10,727,000 after acquiring an additional 8,136 shares in the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

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.