Global Industrial (NYSE:GIC) Sees Strong Trading Volume – Here’s What Happened

Global Industrial (NYSE:GIC) shares saw unusually-high trading volume on Wednesday . Approximately 188,048 shares traded hands during trading, an increase of 60% from the previous session’s volume of 117,410 shares.The stock last traded at $22.28 and had previously closed at $22.35.

Global Industrial Trading Down 2.6 %

The firm’s 50 day moving average price is $22.97 and its 200-day moving average price is $26.10. The company has a market cap of $821.20 million, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 0.93 and a beta of 0.85.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.03). Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. The firm had revenue of $302.30 million for the quarter, compared to analyst estimates of $306.07 million. Analysts predict that Global Industrial will post 1.59 earnings per share for the current fiscal year.

Global Industrial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Global Industrial’s previous quarterly dividend of $0.25. Global Industrial’s payout ratio is 66.24%.

Institutional Investors Weigh In On Global Industrial

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its position in Global Industrial by 340.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company’s stock valued at $39,000 after buying an additional 1,206 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Global Industrial during the 4th quarter valued at approximately $50,000. GAMMA Investing LLC lifted its position in shares of Global Industrial by 1,600.0% during the 1st quarter. GAMMA Investing LLC now owns 2,397 shares of the company’s stock valued at $54,000 after buying an additional 2,256 shares during the last quarter. Quantbot Technologies LP grew its stake in Global Industrial by 150.3% in the 4th quarter. Quantbot Technologies LP now owns 3,614 shares of the company’s stock valued at $90,000 after buying an additional 2,170 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Global Industrial by 44.4% in the fourth quarter. Wells Fargo & Company MN now owns 7,058 shares of the company’s stock valued at $175,000 after acquiring an additional 2,170 shares during the period. 31.19% of the stock is currently owned by institutional investors and hedge funds.

About Global Industrial

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.