Global Industrial Company (NYSE:GIC) Plans $0.28 Quarterly Dividend

Global Industrial Company (NYSE:GIC) declared a quarterly dividend on Tuesday, August 4th. Stockholders of record on Monday, August 17th will be given a dividend of 0.28 per share on Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, August 17th.

Global Industrial has decreased its dividend by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 9 consecutive years. Global Industrial has a dividend payout ratio of 60.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Global Industrial to earn $2.21 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 50.7%.

Global Industrial Trading Up 2.2%

Shares of GIC opened at $37.24 on Wednesday. Global Industrial has a 12-month low of $26.40 and a 12-month high of $38.79. The stock has a market cap of $1.42 billion, a P/E ratio of 19.29, a PEG ratio of 1.20 and a beta of 0.75. The company has a 50-day moving average of $33.17 and a two-hundred day moving average of $32.12.

Global Industrial (NYSE:GIC) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. Global Industrial had a net margin of 5.33% and a return on equity of 23.53%. The business had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $377.40 million. As a group, analysts forecast that Global Industrial will post 1.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Global Industrial

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in Global Industrial by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 893,325 shares of the company’s stock valued at $28,155,000 after purchasing an additional 8,901 shares during the last quarter. Vanguard Group Inc. grew its holdings in Global Industrial by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 822,006 shares of the company’s stock valued at $30,143,000 after buying an additional 17,194 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Global Industrial by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 312,749 shares of the company’s stock valued at $9,858,000 after acquiring an additional 5,842 shares during the last quarter. J. Goldman & Co LP lifted its holdings in shares of Global Industrial by 9.4% during the 4th quarter. J. Goldman & Co LP now owns 307,757 shares of the company’s stock worth $8,993,000 after acquiring an additional 26,365 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Global Industrial by 7.6% in the fourth quarter. Millennium Management LLC now owns 244,233 shares of the company’s stock worth $7,136,000 after acquiring an additional 17,194 shares during the last quarter. Institutional investors and hedge funds own 31.19% of the company’s stock.

About Global Industrial

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.