Global Industrial (NYSE:GIC) Sets New 1-Year High – Still a Buy?

Global Industrial Company (NYSE:GIC)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.83 and last traded at $40.53, with a volume of 1834 shares changing hands. The stock had previously closed at $40.38.

Analysts Set New Price Targets

GIC has been the topic of a number of research reports. Weiss Ratings raised shares of Global Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Wall Street Zen upgraded Global Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Global Industrial Stock Performance

The company’s fifty day simple moving average is $37.88 and its 200-day simple moving average is $33.88. The company has a market capitalization of $1.55 billion, a P/E ratio of 18.14, a PEG ratio of 1.35 and a beta of 0.77.

Global Industrial (NYSE:GIC) last posted its earnings results on Tuesday, August 4th. The company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. The business had revenue of $386.60 million for the quarter, compared to the consensus estimate of $377.40 million. On average, sell-side analysts predict that Global Industrial Company will post 1.87 EPS for the current year.

Global Industrial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were paid a $0.28 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.12 dividend on an annualized basis and a yield of 2.8%. Global Industrial’s payout ratio is 50.00%.

Insiders Place Their Bets

In other Global Industrial news, VP Thomas Axmacher sold 952 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $39.10, for a total transaction of $37,223.20. Following the sale, the vice president owned 6,414 shares of the company’s stock, valued at approximately $250,787.40. This trade represents a 12.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Claudia Hughes sold 4,753 shares of Global Industrial 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 owned 32,167 shares in the company, valued at $1,279,603.26. This represents a 12.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 9,287 shares of company stock valued at $363,904. 64.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Global Industrial in the second quarter worth about $53,365,000. Dimensional Fund Advisors LP grew its position in Global Industrial by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 893,325 shares of the company’s stock worth $28,155,000 after purchasing an additional 8,901 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Global Industrial during the 2nd quarter valued at approximately $10,510,000. Hillsdale Investment Management Inc. raised its holdings in shares of Global Industrial by 4.5% in the first quarter. Hillsdale Investment Management Inc. now owns 199,091 shares of the company’s stock worth $6,275,000 after buying an additional 8,600 shares during the last quarter. Finally, Algert Global LLC raised its holdings in shares of Global Industrial by 4.8% in the second quarter. Algert Global LLC now owns 141,594 shares of the company’s stock worth $4,738,000 after buying an additional 6,530 shares during the last quarter. 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 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.