Global Industrial (NYSE:GIC) Sets New 1-Year High – Here’s What Happened

Global Industrial Company (NYSE:GIC)’s stock price reached a new 52-week high on Monday . The stock traded as high as $41.83 and last traded at $40.53, with a volume of 1834 shares changing hands. The stock had previously closed at $40.38.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Global Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Global Industrial presently has a consensus rating of “Moderate Buy”.

Global Industrial Trading Up 2.6%

The business’s 50 day moving average price is $38.18 and its 200-day moving average price is $34.00. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 1.36 and a beta of 0.77.

Global Industrial (NYSE:GIC) last announced its earnings results on Tuesday, August 4th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $386.60 million during the quarter, compared to the consensus estimate of $377.40 million. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. Equities research analysts forecast that Global Industrial Company will post 1.87 EPS for the current fiscal year.

Global Industrial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were paid a dividend of $0.28 per share. The ex-dividend date was Monday, August 17th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.7%. Global Industrial’s dividend payout ratio (DPR) is 50.00%.

Insider Activity at Global Industrial

In related news, VP Thomas Axmacher sold 952 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $39.10, for a total value of $37,223.20. Following the completion of the sale, the vice president directly owned 6,414 shares in the company, valued at $250,787.40. The trade was a 12.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Claudia Hughes sold 4,753 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $39.78, for a total value of $189,074.34. Following the completion of the transaction, the senior vice president directly owned 32,167 shares in the company, valued at approximately $1,279,603.26. This represents a 12.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 9,287 shares of company stock valued at $363,904. 64.51% of the stock is currently owned by insiders.

Institutional Trading of Global Industrial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC acquired a new position in shares of Global Industrial during the 2nd quarter worth approximately $604,000. Corient Private Wealth LP acquired a new stake in shares of Global Industrial in the second quarter valued at approximately $260,000. Odyssean LLC bought a new stake in shares of Global Industrial in the second quarter valued at approximately $217,000. Grandeur Peak Global Advisors LLC grew its position in Global Industrial by 88.0% during the second quarter. Grandeur Peak Global Advisors LLC now owns 42,089 shares of the company’s stock worth $1,408,000 after buying an additional 19,703 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in Global Industrial by 6.2% during the 2nd quarter. Hsbc Holdings PLC now owns 81,296 shares of the company’s stock worth $2,757,000 after acquiring an additional 4,775 shares during the period. Institutional investors and hedge funds own 31.19% of the company’s stock.

About Global Industrial

Global Industrial Company (NYSE:GIC) is a distributor of industrial, commercial and business products serving organizations across the United States and Canada. The company sells through its e-commerce platforms, catalogs and sales representatives, providing products to businesses, government agencies, educational institutions and other commercial customers.

Its product range includes material-handling equipment, storage and shelving systems, safety supplies, janitorial and facility-maintenance products, packaging materials, office furniture, HVAC equipment, workbenches, tools and other industrial supplies.