Global Industrial (NYSE:GIC) Sees Unusually-High Trading Volume – Here’s Why

Global Industrial (NYSE:GIC) saw unusually-high trading volume on Monday . Approximately 123,469 shares traded hands during trading, an increase of 21% from the previous session’s volume of 101,744 shares.The stock last traded at $25.26 and had previously closed at $25.31.

Global Industrial Price Performance

The stock’s 50 day simple moving average is $26.08 and its two-hundred day simple moving average is $30.19. The stock has a market capitalization of $965.69 million, a PE ratio of 14.86, a PEG ratio of 0.92 and a beta of 0.88.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.14). The company had revenue of $342.40 million for the quarter, compared to the consensus estimate of $353.44 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. During the same quarter in the prior year, the company earned $0.54 earnings per share. As a group, equities research analysts predict that Global Industrial will post 1.59 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 3.96%. The ex-dividend date was Friday, November 8th. Global Industrial’s dividend payout ratio (DPR) is currently 58.82%.

Insider Transactions at Global Industrial

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Exchange Traded Concepts LLC boosted its stake in Global Industrial by 26.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 11,465 shares of the company’s stock worth $284,000 after purchasing an additional 2,364 shares during the period. JPMorgan Chase & Co. grew its stake in Global Industrial by 39.8% during the third quarter. JPMorgan Chase & Co. now owns 46,005 shares of the company’s stock valued at $1,563,000 after acquiring an additional 13,105 shares in the last quarter. Barclays PLC increased its holdings in Global Industrial by 221.5% in the 3rd quarter. Barclays PLC now owns 30,622 shares of the company’s stock valued at $1,041,000 after acquiring an additional 21,097 shares during the last quarter. Geode Capital Management LLC lifted its stake in Global Industrial by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock worth $10,740,000 after purchasing an additional 10,601 shares in the last quarter. Finally, State Street Corp grew its position in shares of Global Industrial by 2.6% during the third quarter. State Street Corp now owns 315,779 shares of the company’s stock valued at $10,727,000 after purchasing an additional 8,136 shares in the last quarter. Institutional investors own 31.19% of the company’s stock.

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.