Global Industrial (NYSE:GIC) Sets New 12-Month High - What's Next?

Key Points

• Global Industrial shares reached a new 52-week high of $42.49 and were last up about 2.2%, giving the company a market capitalization of approximately $1.62 billion.
• Analyst sentiment improved, with recent upgrades resulting in a consensus “Moderate Buy” rating. The company also met quarterly EPS expectations at $0.54 and exceeded revenue estimates with $386.6 million.
• Global Industrial maintains a quarterly dividend of $0.28 per share, equivalent to a 2.6% yield, while insiders sold 9,287 shares worth approximately $363,904 during the last quarter.

Global Industrial Company (NYSE:GIC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday. The company traded as high as $42.49 and last traded at $42.4250, with a volume of 185571 shares trading hands. The stock had previously closed at $41.50.

Wall Street Analyst Weigh In

GIC has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Global Industrial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 18th. Wall Street Zen upgraded shares of Global Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

Global Industrial Stock Up 2.2%

The firm has a market capitalization of $1.62 billion, a PE ratio of 18.94, a P/E/G ratio of 1.39 and a beta of 0.77. The stock has a 50-day simple moving average of $38.61 and a 200-day simple moving average of $34.19.

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

Global Industrial Dividend Announcement

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

Insider Transactions at Global Industrial

In related news, SVP Claudia Hughes sold 4,753 shares of the company's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $39.78, for a total transaction of $189,074.34. Following the sale, the senior vice president directly owned 32,167 shares in the company, valued at approximately $1,279,603.26. This represents a 12.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas Axmacher sold 1,848 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $38.60, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,287 shares of company stock valued at $363,904 in the last quarter. Company insiders own 64.51% of the company's stock.

Institutional Investors Weigh In On Global Industrial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bard Associates Inc. bought a new position in shares of Global Industrial in the second quarter worth $67,000. Empowered Funds LLC bought a new stake in shares of Global Industrial during the 2nd quarter valued at $211,000. Odyssean LLC bought a new position in Global Industrial in the 2nd quarter worth about $217,000. State of Wyoming bought a new position in Global Industrial in the 2nd quarter worth about $219,000. Finally, Jupiter Topco LLC purchased a new position in Global Industrial during the 2nd quarter valued at about $220,000. Institutional investors own 31.19% of the company's stock.

Global Industrial Company Profile

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

Its product range includes material-handling equipment, storage and shelving systems, safety supplies, janitorial and facility-maintenance products, packaging materials, office furniture, HVAC equipment, workbenches, tools and other industrial supplies.

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