Global Industrial (NYSE:GIC) Hits New 52-Week Low – Here’s What Happened

Global Industrial (NYSE:GIC)’s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $25.00 and last traded at $25.33, with a volume of 19554 shares traded. The stock had previously closed at $25.32.

Global Industrial Trading Down 0.5 %

The company has a market cap of $963.42 million, a price-to-earnings ratio of 14.82, a P/E/G ratio of 1.07 and a beta of 0.86. The firm’s 50-day moving average price is $29.01 and its 200 day moving average price is $31.46.

Global Industrial (NYSE:GIC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.14). The company had revenue of $342.40 million during the quarter, compared to the consensus estimate of $353.44 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. During the same period last year, the firm posted $0.54 earnings per share. Analysts forecast that Global Industrial will post 1.62 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 3.97%. Global Industrial’s dividend payout ratio (DPR) is presently 58.82%.

Insider Activity

In related news, Vice Chairman Bruce Leeds sold 5,840 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total value of $165,155.20. Following the sale, the insider now owns 23,675 shares in the company, valued at $669,529. This represents a 19.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 65.30% of the company’s stock.

Institutional Trading of Global Industrial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of Global Industrial by 14.7% during the third quarter. FMR LLC now owns 2,534,156 shares of the company’s stock valued at $86,085,000 after buying an additional 325,555 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Global Industrial by 101.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 177,884 shares of the company’s stock worth $6,043,000 after acquiring an additional 89,780 shares during the last quarter. Millennium Management LLC grew its stake in shares of Global Industrial by 79.4% in the 2nd quarter. Millennium Management LLC now owns 126,107 shares of the company’s stock worth $3,955,000 after acquiring an additional 55,801 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Global Industrial in the second quarter valued at about $1,017,000. Finally, Barclays PLC lifted its position in shares of Global Industrial by 221.5% during the third 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 in the last quarter. 31.19% of the stock is owned by institutional investors.

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.