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

Global Industrial (NYSE:GIC) hit a new 52-week low on Friday . The company traded as low as $23.75 and last traded at $23.92, with a volume of 6101 shares changing hands. The stock had previously closed at $24.51.

Global Industrial Trading Down 4.6 %

The company’s 50-day moving average price is $26.71 and its two-hundred day moving average price is $30.61. The company has a market cap of $894.22 million, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 1.04 and a beta of 0.88.

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

Global Industrial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 4.28%. Global Industrial’s dividend payout ratio is currently 58.82%.

Insider Buying and Selling at Global Industrial

In other Global Industrial news, Vice Chairman Bruce Leeds sold 5,840 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total transaction of $165,155.20. Following the sale, the insider now directly owns 23,675 shares of the company’s stock, valued at $669,529. The trade was a 19.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 65.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GIC. JPMorgan Chase & Co. grew its holdings in shares of Global Industrial by 39.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 46,005 shares of the company’s stock valued at $1,563,000 after acquiring an additional 13,105 shares in the last quarter. Barclays PLC grew its stake in Global Industrial by 221.5% in 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. Geode Capital Management LLC increased its position in Global Industrial by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock worth $10,740,000 after purchasing an additional 10,601 shares during the last quarter. State Street Corp increased its position in Global Industrial by 2.6% in the 3rd quarter. State Street Corp now owns 315,779 shares of the company’s stock worth $10,727,000 after purchasing an additional 8,136 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of 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 purchasing an additional 89,780 shares in the last quarter. 31.19% of the stock is owned by hedge funds and other institutional investors.

Global Industrial Company Profile

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.