Global Industrial (NYSE:GIC) Shares Gap Down to $38.51

Global Industrial (NYSE:GIC - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $38.51, but opened at $37.00. Global Industrial shares last traded at $35.26, with a volume of 18,603 shares changing hands.

Global Industrial Stock Performance

The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 1.21 and a beta of 0.88. The business has a 50-day moving average of $43.51 and a 200-day moving average of $39.96.

Global Industrial (NYSE:GIC - Get Free Report) last announced its earnings results on Thursday, February 29th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.40. The firm had revenue of $320.10 million during the quarter, compared to analysts' expectations of $313.50 million. Global Industrial had a return on equity of 29.76% and a net margin of 5.55%. On average, research analysts predict that Global Industrial will post 2.03 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.90%. Global Industrial's payout ratio is 54.05%.

Insiders Place Their Bets

In other Global Industrial news, Vice Chairman Bruce Leeds sold 380,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $41.15, for a total transaction of $15,637,000.00. Following the completion of the sale, the insider now directly owns 139,800 shares of the company's stock, valued at approximately $5,752,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 66.34% of the stock is owned by insiders.

Institutional Trading of Global Industrial

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Global Industrial during the third quarter worth $102,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Global Industrial by 178.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,306 shares of the company's stock worth $178,000 after purchasing an additional 3,402 shares during the last quarter. Arizona State Retirement System purchased a new position in Global Industrial during the fourth quarter worth $206,000. Leeward Financial Partners LLC purchased a new position in Global Industrial during the first quarter worth $224,000. Finally, Summit Global Investments purchased a new position in Global Industrial during the fourth quarter worth $255,000. 31.19% of the stock is owned by institutional investors and hedge funds.

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.