Global Industrial Company (NYSE:GIC) Short Interest Down 19.3% in August

Key Points

• Short interest in Global Industrial Company decreased by 19.3% in August, with a total of 335,700 shares sold short as of August 15th.
• Analysts have upgraded Global Industrial from a "buy" to a "strong-buy" rating, indicating increased confidence in the company's prospects.
• The company recently declared a quarterly dividend of $0.26 per share, yielding 2.7% annually, which highlights its commitment to returning value to shareholders.

Global Industrial Company (NYSE:GIC - Get Free Report) was the recipient of a significant drop in short interest during the month of August. As of August 15th, there was short interest totaling 335,700 shares, adropof19.3% from the July 31st total of 416,100 shares. Based on an average trading volume of 99,600 shares, the short-interest ratio is currently 3.4 days. Currently,4.3% of the shares of the company are sold short. Currently,4.3% of the shares of the company are sold short. Based on an average trading volume of 99,600 shares, the short-interest ratio is currently 3.4 days.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Global Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd.

Global Industrial Stock Performance

Global Industrial stock opened at $38.30 on Tuesday. The company has a 50 day moving average price of $32.45 and a 200 day moving average price of $27.26. Global Industrial has a 52 week low of $20.79 and a 52 week high of $38.79. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 1.21 and a beta of 0.84.

Global Industrial (NYSE:GIC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.15. Global Industrial had a net margin of 5.00% and a return on equity of 22.89%. The firm had revenue of $358.90 million during the quarter, compared to analyst estimates of $351.81 million. Equities analysts forecast that Global Industrial will post 1.59 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.7%. Global Industrial's dividend payout ratio (DPR) is 60.82%.

Institutional Investors Weigh In On Global Industrial

A number of institutional investors have recently modified their holdings of GIC. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Global Industrial by 82.0% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 401,534 shares of the company's stock valued at $8,994,000 after buying an additional 180,870 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Global Industrial in the 1st quarter worth $3,427,000. Nuveen LLC bought a new position in Global Industrial in the 1st quarter worth $1,802,000. Meritage Portfolio Management bought a new position in Global Industrial in the 2nd quarter worth $2,128,000. Finally, Numerai GP LLC bought a new position in shares of Global Industrial during the 4th quarter worth about $1,506,000. Institutional investors and hedge funds own 31.19% of the company's stock.

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.

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