Global Industrial (NYSE:GIC) Hits New 1-Year High - Here's Why

Key Points

• Global Industrial (NYSE:GIC) shares reached a new 52-week high at $35.39, indicating strong market performance, with a closing value of $35.35.
• The company received an upgrade from "buy" to "strong-buy" by Wall Street Zen, reflecting positive analyst sentiment.
• Global Industrial announced a quarterly dividend of $0.26 per share, with a dividend yield of 3.0%, signaling a commitment to returning value to shareholders.

Global Industrial Company (NYSE:GIC - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $35.39 and last traded at $35.35, with a volume of 17921 shares traded. The stock had previously closed at $34.18.

Analyst Upgrades and Downgrades

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

Global Industrial Stock Performance

The firm has a market capitalization of $1.35 billion, a P/E ratio of 20.53, a P/E/G ratio of 1.10 and a beta of 0.80. The stock's 50 day simple moving average is $28.56 and its 200 day simple moving average is $25.54.

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

Global Industrial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 11th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, August 11th. Global Industrial's dividend payout ratio is 60.82%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Teacher Retirement System of Texas increased its position in shares of Global Industrial by 3.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 13,938 shares of the company's stock valued at $376,000 after acquiring an additional 511 shares during the period. Quantbot Technologies LP lifted its position in Global Industrial by 25.8% during the 1st quarter. Quantbot Technologies LP now owns 4,548 shares of the company's stock worth $102,000 after acquiring an additional 934 shares during the period. MetLife Investment Management LLC grew its stake in Global Industrial by 13.6% during the 4th quarter. MetLife Investment Management LLC now owns 8,215 shares of the company's stock valued at $204,000 after purchasing an additional 982 shares during the last quarter. CWM LLC grew its stake in Global Industrial by 187.7% during the 1st quarter. CWM LLC now owns 1,614 shares of the company's stock valued at $36,000 after purchasing an additional 1,053 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Global Industrial by 3.6% in the first quarter. Hsbc Holdings PLC now owns 33,871 shares of the company's stock valued at $764,000 after purchasing an additional 1,191 shares during the period. Institutional investors 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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