Global Industrial (NYSE:GIC) Sees Significant Drop in Short Interest

Global Industrial (NYSE:GIC) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 280,100 shares, a decline of 5.8% from the August 15th total of 297,300 shares. Currently, 3.6% of the company’s shares are sold short. Based on an average daily volume of 65,900 shares, the days-to-cover ratio is presently 4.3 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jump Financial LLC lifted its position in shares of Global Industrial by 94.1% in the 4th quarter. Jump Financial LLC now owns 11,841 shares of the company’s stock worth $460,000 after purchasing an additional 5,741 shares during the period. Panagora Asset Management Inc. increased its holdings in shares of Global Industrial by 18.6% in the 4th quarter. Panagora Asset Management Inc. now owns 61,257 shares of the company’s stock valued at $2,379,000 after acquiring an additional 9,589 shares during the period. Trexquant Investment LP raised its position in shares of Global Industrial by 60.3% in the 4th quarter. Trexquant Investment LP now owns 12,574 shares of the company’s stock worth $488,000 after acquiring an additional 4,732 shares in the last quarter. Isthmus Partners LLC lifted its stake in shares of Global Industrial by 3.2% during the 4th quarter. Isthmus Partners LLC now owns 69,392 shares of the company’s stock worth $2,695,000 after purchasing an additional 2,137 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Global Industrial during the 4th quarter worth $526,000. 31.19% of the stock is currently owned by institutional investors.

Global Industrial Trading Up 0.1 %

Shares of GIC opened at $32.83 on Thursday. The company’s fifty day simple moving average is $33.01 and its 200-day simple moving average is $36.22. The company has a market cap of $1.25 billion, a P/E ratio of 17.84, a P/E/G ratio of 1.00 and a beta of 0.83. Global Industrial has a twelve month low of $30.13 and a twelve month high of $46.97.

Global Industrial (NYSE:GIC) last announced its earnings results on Tuesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The business had revenue of $347.80 million during the quarter, compared to analyst estimates of $348.84 million. Global Industrial had a return on equity of 26.82% and a net margin of 5.16%. During the same quarter in the previous year, the business earned $0.56 earnings per share. Analysts predict that Global Industrial will post 1.97 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 3.05%. Global Industrial’s payout ratio is currently 54.35%.

About Global Industrial

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.