Global Industrial (NYSE:GIC) Short Interest Down 5.8% in August

Global Industrial (NYSE:GIC) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 280,100 shares, a decrease of 5.8% from the August 15th total of 297,300 shares. Based on an average trading volume of 65,900 shares, the short-interest ratio is currently 4.3 days. Currently, 3.6% of the shares of the company are sold short.

Global Industrial Trading Down 0.1 %

Shares of GIC stock opened at $32.78 on Wednesday. The stock has a 50 day moving average of $33.01 and a 200 day moving average of $36.22. Global Industrial has a twelve month low of $30.13 and a twelve month high of $46.97. The stock has a market cap of $1.25 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.00 and a beta of 0.83.

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, July 30th. The company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. Global Industrial had a net margin of 5.16% and a return on equity of 26.82%. The business had revenue of $347.80 million during the quarter, compared to analysts’ expectations of $348.84 million. During the same quarter in the previous year, the company earned $0.56 earnings per share. On average, research analysts predict that Global Industrial will post 1.97 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 3.05%. Global Industrial’s dividend payout ratio is presently 54.35%.

Institutional Investors Weigh In On Global Industrial

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Global Industrial by 137.3% during the first quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock worth $32,118,000 after purchasing an additional 414,924 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in shares of Global Industrial during the 1st quarter worth approximately $3,824,000. Denali Advisors LLC raised its position in shares of Global Industrial by 44.5% during the 2nd quarter. Denali Advisors LLC now owns 57,122 shares of the company’s stock valued at $1,791,000 after buying an additional 17,600 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Global Industrial by 3.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company’s stock valued at $576,000 after acquiring an additional 459 shares during the last quarter. Finally, Jump Financial LLC grew its position in Global Industrial by 94.1% in the fourth quarter. Jump Financial LLC now owns 11,841 shares of the company’s stock worth $460,000 after acquiring an additional 5,741 shares during the period. Hedge funds and other institutional investors own 31.19% of the company’s stock.

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.