Global Industrial (NYSE:GIC) Reaches New 52-Week High - Time to Buy?

Key Points

• Global Industrial shares reached a new 52-week high of $44.74, with the stock recently trading around $44.86. Its market capitalization is approximately $1.71 billion, and shares remain above their 50-day and 200-day moving averages.
• Analysts maintain a cautious outlook, with a consensus “Hold” rating and a $39.00 price target—below the stock’s recent trading level. Recent ratings included downgrades from Weiss Ratings and Wall Street Zen.
• The company reported quarterly EPS in line with estimates at $0.54, while revenue exceeded forecasts at $386.6 million. Global Industrial also pays a quarterly dividend of $0.28, equal to a 2.5% annualized yield, although insiders sold shares recently.

Shares of Global Industrial Company (NYSE:GIC - Get Free Report) reached a new 52-week high on Wednesday. The company traded as high as $44.74 and last traded at $44.8580, with a volume of 97,811 shares. The stock had previously closed at $44.12.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Global Industrial from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, September 25th. Freedom Broker began coverage on shares of Global Industrial in a research report on Wednesday, October 14th. They issued a "hold" rating and a $39.00 target price on the stock. Finally, Wall Street Zen lowered shares of Global Industrial from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Three equities research analysts have rated the stock with a Hold rating. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $39.00.

Global Industrial Price Performance

The company has a market cap of $1.71 billion, a PE ratio of 20.04, a PEG ratio of 1.46 and a beta of 0.77. The stock has a 50 day simple moving average of $40.90 and a two-hundred day simple moving average of $35.66.

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

Global Industrial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 17th. Global Industrial's dividend payout ratio is presently 50.00%.

Insider Activity

In other news, 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 owned 32,167 shares in the company, valued at approximately $1,279,603.26. This represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas Axmacher sold 952 shares of the firm's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $39.10, for a total value of $37,223.20. Following the transaction, the vice president directly owned 6,414 shares in the company, valued at approximately $250,787.40. This represents a 12.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,287 shares of company stock valued at $363,904 in the last quarter. Insiders own 64.51% of the company's stock.

Institutional Trading of Global Industrial

A number of hedge funds have recently added to or reduced their stakes in GIC. BlackRock Inc. purchased a new position in Global Industrial in the 2nd quarter valued at $53,365,000. Dimensional Fund Advisors LP increased its stake in Global Industrial by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 893,325 shares of the company's stock valued at $28,155,000 after buying an additional 8,901 shares during the period. Bank of New York Mellon Corp purchased a new position in Global Industrial during the 2nd quarter worth $10,510,000. Hillsdale Investment Management Inc. raised its position in Global Industrial by 4.5% during the 1st quarter. Hillsdale Investment Management Inc. now owns 199,091 shares of the company's stock worth $6,275,000 after buying an additional 8,600 shares during the last quarter. Finally, Algert Global LLC raised its position in Global Industrial by 4.8% during the 2nd quarter. Algert Global LLC now owns 141,594 shares of the company's stock worth $4,738,000 after buying an additional 6,530 shares during the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

Global Industrial Company Profile

Global Industrial Company NYSE: GIC is a distributor of industrial, commercial and business products serving organizations across North America. The company sells products through its e-commerce platforms, catalogs and sales representatives, serving businesses, government agencies, educational institutions and other commercial customers.

Its product offerings include material-handling and storage equipment, shelving, cabinets, workbenches, safety supplies, janitorial and sanitation products, packaging materials, tools, lighting, HVAC equipment, office furniture and other facility-maintenance products.

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