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

Global Industrial Company (NYSE:GIC)’s share 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 traded. The stock had previously closed at $41.50.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of Global Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Global Industrial currently has an average rating of “Moderate Buy”.

Global Industrial Stock Performance

The firm has a market capitalization of $1.62 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 1.39 and a beta of 0.77. The business has a 50 day simple moving average of $38.61 and a two-hundred day simple moving average of $34.19.

Global Industrial (NYSE:GIC) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, meeting the consensus estimate 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. On average, equities analysts anticipate that Global Industrial Company will post 1.87 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 24th. Shareholders of record on Monday, August 17th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Monday, August 17th. Global Industrial’s payout ratio is currently 50.00%.

Insiders Place Their Bets

In related news, VP Thomas Axmacher sold 1,848 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $38.60, for a total value of $71,332.80. Following the completion of the transaction, the vice president directly owned 7,366 shares in the company, valued at approximately $284,327.60. The trade was a 20.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Claudia Hughes sold 4,753 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $39.78, for a total value of $189,074.34. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. Insiders sold a total of 9,287 shares of company stock worth $363,904 in the last three months. Insiders own 64.51% of the company’s stock.

Institutional Investors Weigh In On Global Industrial

Hedge funds have recently added to or reduced their stakes in the company. Bard Associates Inc. bought a new position in shares of Global Industrial during the 2nd quarter valued at about $67,000. Empowered Funds LLC purchased a new stake in Global Industrial in the second quarter worth approximately $211,000. Odyssean LLC bought a new position in Global Industrial during the second quarter valued at approximately $217,000. State of Wyoming purchased a new position in shares of Global Industrial during the second quarter worth approximately $219,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Global Industrial in the 2nd quarter valued at $220,000. Institutional investors own 31.19% of the company’s stock.

About Global Industrial

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.