Global Industrial (NYSE:GIC) Stock Price Up 1.3% – What’s Next?

Global Industrial Company (NYSE:GIC) shares rose 1.3% during trading on Thursday . The stock traded as high as $30.62 and last traded at $30.3860. Approximately 209,586 shares changed hands during mid-day trading, an increase of 71% from the average daily volume of 122,461 shares. The stock had previously closed at $30.00.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GIC. Zacks Research upgraded shares of Global Industrial from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Wall Street Zen upgraded shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Global Industrial in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Global Industrial Trading Down 0.7%

The business has a fifty day moving average price of $31.63 and a two-hundred day moving average price of $31.79. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 0.95 and a beta of 0.90.

Global Industrial (NYSE:GIC) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.35 by $0.03. Global Industrial had a net margin of 5.23% and a return on equity of 23.56%. The business had revenue of $345.60 million during the quarter, compared to analysts’ expectations of $324.86 million. On average, analysts anticipate that Global Industrial Company will post 1.59 EPS for the current year.

Global Industrial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Global Industrial’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, March 9th. Global Industrial’s dividend payout ratio (DPR) is currently 60.22%.

Institutional Trading of Global Industrial

Institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC increased its position in Global Industrial by 0.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 61,392 shares of the company’s stock worth $1,732,000 after purchasing an additional 323 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Global Industrial by 6.5% during the 3rd quarter. GSA Capital Partners LLP now owns 9,410 shares of the company’s stock valued at $345,000 after buying an additional 574 shares during the last quarter. Meritage Portfolio Management grew its stake in shares of Global Industrial by 0.8% in the 3rd quarter. Meritage Portfolio Management now owns 79,424 shares of the company’s stock valued at $2,912,000 after buying an additional 649 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Global Industrial by 3.2% in the 3rd quarter. Rhumbline Advisers now owns 21,207 shares of the company’s stock valued at $778,000 after buying an additional 666 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Global Industrial by 1.9% in the fourth quarter. Swiss National Bank now owns 37,800 shares of the company’s stock worth $1,105,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 31.19% of the company’s stock.

Global Industrial Company Profile

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.