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

Global Industrial Company (NYSE:GIC)’s stock price reached a new 52-week high on Wednesday. The company traded as high as $51.63 and last traded at $50.79, with a volume of 25,818 shares trading hands. The stock had previously closed at $44.13.

More Global Industrial News

Here are the key news stories impacting Global Industrial this week:

• Positive Sentiment: Third-quarter results topped estimates: revenue was $389.5 million versus about $385 million expected, while reports cited EPS of $0.60–$0.64 against a $0.55 consensus. One report also noted EPS rose from $0.48 a year earlier. Zacks article
• Positive Sentiment: The company announced a $1-per-share special dividend, payable November 23 to shareholders of record November 16. The payout may support investor interest, though it is a one-time distribution rather than recurring earnings growth.
• Neutral Sentiment: Management expects fourth-quarter gross margin to be roughly in line with last year’s 34.5%, while citing transportation costs as a headwind. Stable margin expectations are reassuring, but costs could limit further improvement. Seeking Alpha article
• Neutral Sentiment: Other coverage focused on whether earnings growth and the dividend support GIC’s valuation; the headlines provided do not specify a new price target or rating. Valuation article

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Freedom Broker started coverage on Global Industrial in a research note on Wednesday, October 14th. They issued a “hold” rating and a $39.00 price target on the stock. Wall Street Zen upgraded shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Weiss Ratings downgraded shares of Global Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. Three investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, Global Industrial has a consensus rating of “Hold” and a consensus price target of $39.00.

Global Industrial Stock Performance

The stock has a market capitalization of $1.90 billion, a PE ratio of 22.28, a P/E/G ratio of 1.47 and a beta of 0.75. The firm has a 50 day moving average of $41.96 and a 200-day moving average of $35.08.

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $386.60 million for the quarter, compared to analysts’ expectations of $377.40 million. Global Industrial had a return on equity of 21.49% and a net margin of 6.06%. On average, sell-side analysts predict that Global Industrial Company will post 1.87 earnings per share for the current year.

Global Industrial Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 16th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, November 16th. Global Industrial’s payout ratio is presently 50.00%.

Insider Activity at Global Industrial

In other news, SVP Claudia Hughes sold 4,753 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $39.78, for a total transaction of $189,074.34. Following the transaction, the senior vice president directly owned 32,167 shares in the company, valued at $1,279,603.26. The trade was a 12.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Thomas Axmacher sold 1,848 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $38.60, for a total transaction of $71,332.80. Following the completion of the transaction, the vice president directly owned 7,366 shares in the company, valued at $284,327.60. This trade represents a 20.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 9,287 shares of company stock worth $363,904. Company insiders own 64.51% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GIC. State of Wyoming lifted its holdings in shares of Global Industrial by 17.2% during the 3rd quarter. State of Wyoming now owns 7,679 shares of the company’s stock valued at $322,000 after buying an additional 1,125 shares during the last quarter. Signaturefd LLC lifted its stake in Global Industrial by 143.3% in the third quarter. Signaturefd LLC now owns 1,428 shares of the company’s stock valued at $60,000 after acquiring an additional 841 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Global Industrial by 166.4% in the third quarter. Nisa Investment Advisors LLC now owns 6,639 shares of the company’s stock valued at $278,000 after acquiring an additional 4,147 shares during the last quarter. Tidal Investments LLC bought a new stake in Global Industrial in the second quarter worth approximately $604,000. Finally, Corient Private Wealth LP bought a new stake in Global Industrial in the second quarter worth approximately $260,000. 31.19% of the stock is owned by institutional investors and hedge funds.

About Global Industrial

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

Its product offerings include material-handling and storage equipment, shelving, cabinets, workbenches, safety supplies, janitorial and sanitation products, packaging materials, tools, lighting, HVAC equipment, office furniture and other facility-maintenance products.