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) saw a significant drop in short interest in August. As of August 15th, there was short interest totaling 335,700 shares, a drop of 19.3% from the July 31st total of 416,100 shares. Based on an average daily trading volume, of 99,600 shares, the short-interest ratio is presently 3.4 days. Approximately 4.3% of the shares of the stock are short sold. Approximately 4.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 99,600 shares, the short-interest ratio is presently 3.4 days.

Wall Street Analysts Forecast Growth

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.

Institutional Trading of Global Industrial

Several large investors have recently modified their holdings of GIC. Tower Research Capital LLC TRC grew its position in shares of Global Industrial by 340.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company's stock valued at $39,000 after purchasing an additional 1,206 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Global Industrial by 19.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,224 shares of the company's stock worth $427,000 after acquiring an additional 2,834 shares during the last quarter. Northern Trust Corp boosted its position in Global Industrial by 11.2% during the fourth quarter. Northern Trust Corp now owns 153,421 shares of the company's stock worth $3,803,000 after acquiring an additional 15,471 shares during the last quarter. Jane Street Group LLC boosted its position in Global Industrial by 114.0% during the fourth quarter. Jane Street Group LLC now owns 15,294 shares of the company's stock worth $379,000 after acquiring an additional 8,146 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Global Industrial during the fourth quarter worth approximately $1,391,000. 31.19% of the stock is currently owned by institutional investors and hedge funds.

Global Industrial Trading Down 3.5%

Shares of GIC stock traded down $1.34 during trading hours on Friday, hitting $37.02. The company's stock had a trading volume of 97,990 shares, compared to its average volume of 125,418. The business has a fifty day moving average of $33.20 and a 200-day moving average of $27.64. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 1.18 and a beta of 0.84. Global Industrial has a twelve month low of $20.79 and a twelve month high of $38.79.

Global Industrial (NYSE:GIC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.50 by $0.15. The business had revenue of $358.90 million for the quarter, compared to analyst estimates of $351.81 million. Global Industrial had a net margin of 5.00% and a return on equity of 22.89%. On average, equities analysts expect that Global Industrial will post 1.59 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 2.8%. Global Industrial's dividend payout ratio is currently 60.82%.

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.