Global Industrial (NYSE:GIC) Sees Significant Drop in Short Interest

Global Industrial (NYSE:GIC) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 328,400 shares, a drop of 7.5% from the October 31st total of 355,000 shares. Approximately 4.2% of the shares of the company are short sold. Based on an average trading volume of 76,800 shares, the days-to-cover ratio is presently 4.3 days.

Insider Buying and Selling at Global Industrial

In other Global Industrial news, Vice Chairman Bruce Leeds sold 5,840 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total transaction of $165,155.20. Following the sale, the insider now directly owns 23,675 shares of the company’s stock, valued at $669,529. The trade was a 19.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 65.30% of the company’s stock.

Institutional Investors Weigh In On Global Industrial

A number of hedge funds have recently made changes to their positions in GIC. Vanguard Group Inc. raised its stake in shares of Global Industrial by 137.3% during the 1st quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock worth $32,118,000 after buying an additional 414,924 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Global Industrial by 3.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company’s stock valued at $576,000 after purchasing an additional 459 shares during the last quarter. Panagora Asset Management Inc. increased its position in Global Industrial by 7.7% during the second quarter. Panagora Asset Management Inc. now owns 62,583 shares of the company’s stock worth $1,963,000 after purchasing an additional 4,448 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Global Industrial by 2.1% in the second quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock valued at $619,000 after purchasing an additional 397 shares during the period. Finally, National Bank of Canada FI raised its stake in Global Industrial by 41.8% during the second quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock worth $153,000 after acquiring an additional 1,472 shares during the period. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

Global Industrial Trading Down 1.7 %

Shares of GIC traded down $0.47 on Monday, reaching $27.78. The company’s stock had a trading volume of 81,951 shares, compared to its average volume of 78,775. The stock has a market capitalization of $1.06 billion, a PE ratio of 16.34, a PEG ratio of 1.09 and a beta of 0.86. The firm has a fifty day moving average of $30.86 and a 200-day moving average of $32.24. Global Industrial has a twelve month low of $25.00 and a twelve month high of $46.97.

Global Industrial (NYSE:GIC) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The firm had revenue of $342.40 million during the quarter, compared to the consensus estimate of $353.44 million. During the same quarter last year, the business posted $0.54 earnings per share. As a group, equities analysts anticipate that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Friday, November 8th. Global Industrial’s payout ratio is 58.82%.

Global Industrial Company Profile

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.