Global Industrial (NYSE:GIC) Sees Large Increase in Short Interest

Global Industrial (NYSE:GIC - Get Free Report) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 222,700 shares, a growth of 18.3% from the April 30th total of 188,200 shares. Approximately 2.9% of the company's shares are sold short. Based on an average daily trading volume, of 114,200 shares, the short-interest ratio is currently 2.0 days.

Global Industrial Stock Up 1.2%

Shares of Global Industrial stock traded up $0.31 during trading on Thursday, reaching $27.07. 52,549 shares of the company were exchanged, compared to its average volume of 92,620. Global Industrial has a twelve month low of $20.79 and a twelve month high of $36.17. The business has a 50-day moving average price of $24.25 and a 200-day moving average price of $24.71. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 0.93 and a beta of 0.80.

Global Industrial (NYSE:GIC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.15. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. The business had revenue of $321.00 million during the quarter, compared to analysts' expectations of $307.15 million. On average, equities research analysts forecast that Global Industrial will post 1.59 EPS for the current fiscal year.

Global Industrial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.84%. Global Industrial's dividend payout ratio (DPR) is presently 65.82%.

Institutional Investors Weigh In On Global Industrial

A number of institutional investors have recently made changes to their positions in GIC. J. Goldman & Co LP lifted its holdings in Global Industrial by 559.7% during the fourth quarter. J. Goldman & Co LP now owns 494,650 shares of the company's stock worth $12,262,000 after acquiring an additional 419,672 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Global Industrial by 82.0% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 401,534 shares of the company's stock worth $8,994,000 after acquiring an additional 180,870 shares in the last quarter. Raymond James Financial Inc. bought a new position in Global Industrial during the fourth quarter worth about $4,001,000. Jacobs Levy Equity Management Inc. bought a new position in Global Industrial during the first quarter worth about $3,427,000. Finally, Bank of New York Mellon Corp lifted its holdings in Global Industrial by 65.6% during the fourth quarter. Bank of New York Mellon Corp now owns 319,282 shares of the company's stock worth $7,915,000 after acquiring an additional 126,431 shares in the last quarter. 31.19% of the stock is 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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