Global Industrial (NYSE:GIC) Sees Large Volume Increase – What’s Next?

Global Industrial (NYSE:GIC) saw an uptick in trading volume on Monday . 123,469 shares were traded during mid-day trading, an increase of 21% from the previous session’s volume of 101,744 shares.The stock last traded at $25.26 and had previously closed at $25.31.

Global Industrial Stock Down 0.2 %

The company’s 50 day moving average price is $26.08 and its two-hundred day moving average price is $30.19. The stock has a market cap of $965.69 million, a P/E ratio of 14.86, a P/E/G ratio of 0.92 and a beta of 0.88.

Global Industrial (NYSE:GIC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. The business had revenue of $342.40 million for the quarter, compared to analysts’ expectations of $353.44 million. During the same quarter in the previous year, the firm posted $0.54 EPS. As a group, equities research analysts forecast that Global Industrial will post 1.59 earnings per share for the current year.

Global Industrial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.96%. Global Industrial’s dividend payout ratio (DPR) is currently 58.82%.

Insider Activity at Global Industrial

In other Global Industrial news, Vice Chairman Bruce Leeds sold 5,840 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total value of $165,155.20. Following the transaction, the insider now directly owns 23,675 shares of the company’s stock, valued at $669,529. This trade represents a 19.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 65.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Global Industrial

Several large investors have recently made changes to their positions in the stock. FMR LLC lifted its holdings in Global Industrial by 14.7% during the 3rd quarter. FMR LLC now owns 2,534,156 shares of the company’s stock worth $86,085,000 after buying an additional 325,555 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Global Industrial by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,574 shares of the company’s stock worth $32,067,000 after buying an additional 6,602 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Global Industrial by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock valued at $10,740,000 after acquiring an additional 10,601 shares during the last quarter. State Street Corp raised its position in shares of Global Industrial by 2.6% during the 3rd quarter. State Street Corp now owns 315,779 shares of the company’s stock worth $10,727,000 after acquiring an additional 8,136 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in Global Industrial by 101.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 177,884 shares of the company’s stock worth $6,043,000 after purchasing an additional 89,780 shares during the last quarter. 31.19% of the stock is currently owned by institutional investors and hedge funds.

About Global Industrial

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.