Global Industrial (NYSE:GIC) Trading 0% Higher – Here’s What Happened

Global Industrial Company (NYSE:GIC)’s share price was up 0% during mid-day trading on Monday . The company traded as high as $30.49 and last traded at $30.41. Approximately 85,969 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 114,129 shares. The stock had previously closed at $30.40.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GIC shares. Wall Street Zen cut shares of Global Industrial from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings cut shares of Global Industrial from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Global Industrial has an average rating of “Hold”.

Global Industrial Stock Performance

The firm’s 50-day moving average price is $31.33 and its two-hundred day moving average price is $30.72. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 1.01 and a beta of 0.79.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The firm had revenue of $350.40 million for the quarter, compared to analyst estimates of $344.13 million. Global Industrial had a net margin of 5.33% and a return on equity of 23.53%. As a group, sell-side analysts expect that Global Industrial Company will post 1.89 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 18th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, May 18th. Global Industrial’s payout ratio is 58.03%.

Institutional Trading of Global Industrial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC raised its holdings 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 valued at $1,732,000 after buying an additional 323 shares during the period. GSA Capital Partners LLP raised its holdings in Global Industrial by 6.5% in 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 period. Rhumbline Advisers raised its holdings in 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 during the period. Swiss National Bank raised its holdings in Global Industrial by 1.9% in the 4th quarter. Swiss National Bank now owns 37,800 shares of the company’s stock valued at $1,105,000 after buying an additional 700 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in Global Industrial by 11.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 8,544 shares of the company’s stock worth $250,000 after purchasing an additional 888 shares during the period. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

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.