Global Industrial (NYSE:GIC) Trading Down 0.3% – Time to Sell?

Global Industrial Company (NYSE:GIC) dropped 0.3% on Monday . The company traded as low as $32.73 and last traded at $32.8220. Approximately 99,072 shares traded hands during trading, an increase of 22% from the average session volume of 81,413 shares. The stock had previously closed at $32.91.

Analysts Set New Price Targets

Several research firms have issued reports on GIC. Wall Street Zen lowered Global Industrial from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded Global Industrial from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Global Industrial Price Performance

The company has a market capitalization of $1.28 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 1.08 and a beta of 0.79. The company’s 50-day moving average price is $31.33 and its two-hundred day moving average price is $31.17.

Global Industrial (NYSE:GIC) last announced its earnings results on Tuesday, May 5th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). Global Industrial had a return on equity of 23.53% and a net margin of 5.33%.The company had revenue of $350.40 million for the quarter, compared to the consensus estimate of $344.13 million. On average, analysts anticipate that Global Industrial Company will post 1.89 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 18th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, May 18th. Global Industrial’s payout ratio is currently 58.03%.

Hedge Funds Weigh In On Global Industrial

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in Global Industrial by 37.4% in the 1st quarter. AQR Capital Management LLC now owns 61,993 shares of the company’s stock valued at $1,389,000 after purchasing an additional 16,880 shares during the period. Goldman Sachs Group Inc. increased its position in Global Industrial by 66.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 143,162 shares of the company’s stock worth $3,207,000 after buying an additional 57,056 shares during the period. Jane Street Group LLC increased its position in Global Industrial by 16.4% during the 1st quarter. Jane Street Group LLC now owns 17,806 shares of the company’s stock worth $399,000 after buying an additional 2,512 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Global Industrial during the second quarter worth $231,000. Finally, American Century Companies Inc. lifted its holdings in shares of Global Industrial by 7.8% during the second quarter. American Century Companies Inc. now owns 38,952 shares of the company’s stock worth $1,052,000 after buying an additional 2,804 shares in the last quarter. Institutional investors own 31.19% of the company’s stock.

Global Industrial Company Profile

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.