Global Industrial (NYSE:GIC) Posts Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Key Points

• Global Industrial reported a quarterly earnings of $0.65 EPS, exceeding the consensus estimate of $0.50 by $0.15.
• The company declared a quarterly dividend of $0.26, which yields 3.83% annually with a payout ratio of 65.82%.
• Institutional investor interest has increased, with Goldman Sachs boosting its stake by 66.3% during the first quarter.

Global Industrial (NYSE:GIC - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.15, Zacks reports. Global Industrial had a return on equity of 21.85% and a net margin of 4.67%.

Global Industrial Stock Performance

Shares of GIC stock traded down $0.26 during trading on Tuesday, hitting $27.13. The company had a trading volume of 114,069 shares, compared to its average volume of 100,917. Global Industrial has a one year low of $20.79 and a one year high of $36.17. The firm has a market capitalization of $1.04 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.02 and a beta of 0.80. The stock's 50-day moving average price is $27.12 and its 200 day moving average price is $24.94.

Global Industrial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Monday, May 12th. Global Industrial's dividend payout ratio (DPR) is currently 65.82%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its holdings in Global Industrial by 16.4% in the first quarter. Jane Street Group LLC now owns 17,806 shares of the company's stock valued at $399,000 after purchasing an additional 2,512 shares during the period. AQR Capital Management LLC boosted its position in Global Industrial by 37.4% during the first quarter. AQR Capital Management LLC now owns 61,993 shares of the company's stock valued at $1,389,000 after acquiring an additional 16,880 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Global Industrial by 66.3% during the first quarter. Goldman Sachs Group Inc. now owns 143,162 shares of the company's stock valued at $3,207,000 after acquiring an additional 57,056 shares during the last quarter. 31.19% of the stock is currently owned by institutional investors and hedge funds.

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.

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