Global Industrial (NYSE:GIC) Reaches New 12-Month High - Here's Why

Key Points

• Global Industrial's stock price achieved a new 12-month high of **$37.77** during trading on Thursday, up from a previous close of **$37.52**.
• Analysts upgraded Global Industrial from a "buy" to a **"strong-buy"** rating, reflecting increased confidence in the company's performance.
• The company recently reported earnings of **$0.65 per share**, exceeding expectations, with revenues of **$358.90 million** for the quarter.

Global Industrial Company (NYSE:GIC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $37.77 and last traded at $37.67, with a volume of 168038 shares trading hands. The stock had previously closed at $37.52.

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 cap of $1.45 billion, a P/E ratio of 22.03, a P/E/G ratio of 1.20 and a beta of 0.80. The company's 50 day moving average is $30.76 and its 200 day moving average is $26.47.

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

Global Industrial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, August 11th. Global Industrial's dividend payout ratio (DPR) is presently 60.82%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GIC. CWM LLC boosted its position in Global Industrial by 187.7% during the 1st quarter. CWM LLC now owns 1,614 shares of the company's stock worth $36,000 after buying an additional 1,053 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Global Industrial by 340.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company's stock valued at $39,000 after acquiring an additional 1,206 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Global Industrial by 1,600.0% during the first quarter. GAMMA Investing LLC now owns 2,397 shares of the company's stock worth $54,000 after purchasing an additional 2,256 shares during the period. US Bancorp DE grew its stake in shares of Global Industrial by 954.3% in the first quarter. US Bancorp DE now owns 3,068 shares of the company's stock worth $69,000 after purchasing an additional 2,777 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in Global Industrial by 25.8% in the first quarter. Quantbot Technologies LP now owns 4,548 shares of the company's stock valued at $102,000 after purchasing an additional 934 shares during the period. Institutional investors and hedge funds own 31.19% of the company's stock.

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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