Global Industrial (NYSE:GIC) Hits New 12-Month High - Time to Buy?

Key Points

• Global Industrial shares reached a new 52-week high, trading as high as $43.90 and valuing the company at approximately $1.64 billion. The stock’s 50-day and 200-day moving averages were $39.42 and $34.60, respectively.
• Analyst sentiment remains mixed, with the consensus rating at “Hold” despite one upgrade to “strong buy” and another downgrade to “hold.” The company recently met earnings expectations with $0.54 EPS and exceeded revenue estimates, reporting $386.6 million in quarterly revenue.
• Global Industrial pays a quarterly dividend of $0.28, equivalent to a 2.6% annual yield, while insiders sold $363,904 worth of shares over the past three months. Institutional investors, including BlackRock, have also established significant new positions.

Global Industrial Company (NYSE:GIC - Get Free Report) shares reached a new 52-week high during trading on Monday. The stock traded as high as $43.90 and last traded at $43.2490, with a volume of 121423 shares traded. The stock had previously closed at $43.61.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Global Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Weiss Ratings cut shares of Global Industrial from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, September 25th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

Global Industrial Trading Up 0.1%

The firm's fifty day simple moving average is $39.42 and its 200 day simple moving average is $34.60. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 1.46 and a beta of 0.77.

Global Industrial (NYSE:GIC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. The firm had revenue of $386.60 million for the quarter, compared to analyst estimates of $377.40 million. As a group, sell-side analysts expect that Global Industrial Company will post 1.87 EPS for the current year.

Global Industrial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were paid a $0.28 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.12 dividend on an annualized basis and a yield of 2.6%. Global Industrial's payout ratio is currently 50.00%.

Insider Buying and Selling at Global Industrial

In other Global Industrial news, VP Thomas Axmacher sold 1,848 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $38.60, for a total value of $71,332.80. Following the completion of the transaction, the vice president directly owned 7,366 shares of the company's stock, valued at approximately $284,327.60. This trade represents a 20.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Claudia Hughes sold 4,753 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $39.78, for a total transaction of $189,074.34. Following the completion of the sale, the senior vice president directly owned 32,167 shares in the company, valued at approximately $1,279,603.26. The trade was a 12.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,287 shares of company stock worth $363,904 over the last three months. 64.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Global Industrial during the 2nd quarter worth about $53,365,000. Bank of New York Mellon Corp acquired a new position in Global Industrial in the second quarter valued at $10,510,000. Bank of America Corp DE acquired a new stake in Global Industrial in the 2nd quarter worth about $3,367,000. Edgestream Partners L.P. acquired a new position in shares of Global Industrial during the 1st quarter valued at about $2,920,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Global Industrial during the 2nd quarter worth about $2,757,000. 31.19% of the stock is currently owned by institutional investors and hedge funds.

Global Industrial Company Profile

Global Industrial Company NYSE: GIC is a distributor of industrial and maintenance, repair and operations (MRO) products. The company serves businesses, government agencies and other organizations through digital commerce, direct sales and product catalogs.

Its product range includes material-handling and storage equipment, shelving, cabinets, workstations, safety supplies, janitorial and facility-maintenance products, packaging supplies, tools, HVAC equipment and office furnishings. Global Industrial offers products from its own brands as well as third-party manufacturers, with solutions designed for workplaces, warehouses, commercial facilities and industrial operations.

The company primarily serves customers in the United States and Canada.

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