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

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

Wall Street Analysts Forecast Growth

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

Global Industrial Trading Up 0.0%

The company has a market capitalization of $1.16 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.01 and a beta of 0.79. The business’s 50-day simple moving average is $31.33 and its 200-day simple moving average is $30.72.

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

Global Industrial Dividend Announcement

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

Hedge Funds Weigh In On Global Industrial

Several institutional investors have recently made changes to their positions in the company. Edgestream Partners L.P. acquired a new stake in Global Industrial in the 1st quarter valued at $2,920,000. Quantinno Capital Management LP grew its stake in Global Industrial by 9.4% in the 1st quarter. Quantinno Capital Management LP now owns 43,329 shares of the company’s stock valued at $1,366,000 after acquiring an additional 3,730 shares during the period. Lazard Asset Management LLC grew its stake in Global Industrial by 9.5% in the 1st quarter. Lazard Asset Management LLC now owns 57,453 shares of the company’s stock valued at $1,811,000 after acquiring an additional 4,982 shares during the period. Sei Investments Co. grew its stake in Global Industrial by 70.7% in the 1st quarter. Sei Investments Co. now owns 17,552 shares of the company’s stock valued at $553,000 after acquiring an additional 7,268 shares during the period. Finally, Globeflex Capital L P acquired a new stake in Global Industrial in the 1st quarter valued at $249,000. 31.19% of the stock is owned by hedge funds and other institutional investors.

About Global Industrial

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.