Global Industrial (NYSE:GIC - Get Free Report) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 287,300 shares, a growth of 51.4% from the March 15th total of 189,800 shares. Based on an average daily volume of 93,200 shares, the short-interest ratio is currently 3.1 days. Currently, 3.7% of the shares of the stock are short sold.
Global Industrial Price Performance
NYSE GIC traded down $0.40 during trading hours on Friday, hitting $41.85. 44,247 shares of the company's stock traded hands, compared to its average volume of 90,170. Global Industrial has a 52-week low of $20.52 and a 52-week high of $46.97. The company has a market capitalization of $1.60 billion, a PE ratio of 22.62, a PEG ratio of 1.31 and a beta of 0.88. The firm's 50-day moving average is $44.48 and its 200-day moving average is $39.33.
Global Industrial (NYSE:GIC - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. Global Industrial had a net margin of 5.55% and a return on equity of 29.76%. The company had revenue of $320.10 million during the quarter, compared to analysts' expectations of $313.50 million. Equities research analysts predict that Global Industrial will post 2.03 earnings per share for the current fiscal year.
Global Industrial Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 11th were paid a $0.25 dividend. This is a boost from Global Industrial's previous quarterly dividend of $0.20. The ex-dividend date was Friday, March 8th. This represents a $1.00 annualized dividend and a dividend yield of 2.39%. Global Industrial's dividend payout ratio is 54.05%.
Insider Transactions at Global Industrial
In other news, Vice Chairman Bruce Leeds sold 380,000 shares of the business's stock in a transaction dated Thursday, March 14th. The shares were 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 owns 139,800 shares of the company's stock, valued at $5,752,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 66.34% of the company's stock.
Institutional Trading of Global Industrial
Several hedge funds have recently made changes to their positions in the company. LVZ Inc. grew its stake in shares of Global Industrial by 6.7% in the 4th quarter. LVZ Inc. now owns 8,269 shares of the company's stock valued at $321,000 after buying an additional 518 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Global Industrial by 1.8% in the 3rd quarter. Hsbc Holdings PLC now owns 31,061 shares of the company's stock worth $1,040,000 after acquiring an additional 537 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Global Industrial by 122.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,015 shares of the company's stock worth $27,000 after acquiring an additional 559 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Global Industrial by 116.1% in the 1st quarter. Citigroup Inc. now owns 1,113 shares of the company's stock worth $30,000 after acquiring an additional 598 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Global Industrial by 8.1% in the 3rd quarter. Alliancebernstein L.P. now owns 7,971 shares of the company's stock worth $214,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 31.19% of the company's stock.
About Global Industrial
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Global Industrial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Global Industrial wasn't on the list.
While Global Industrial currently has a "hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
