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

Global Industrial Company (NYSE:GIC)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $40.71 and last traded at $40.38, with a volume of 3508 shares traded. The stock had previously closed at $39.80.

Wall Street Analysts Forecast Growth

GIC has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Global Industrial has a consensus rating of “Hold”.

Global Industrial Price Performance

The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 1.30 and a beta of 0.75. The business has a fifty day moving average of $33.89 and a 200-day moving average of $32.35.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $386.60 million during the quarter, compared to analyst estimates of $377.40 million. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. As a group, research analysts anticipate that Global Industrial Company will post 1.88 EPS for the current year.

Global Industrial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, August 17th. Global Industrial’s dividend payout ratio (DPR) is presently 50.00%.

Insider Transactions at Global Industrial

In other Global Industrial news, VP Thomas Axmacher sold 1,848 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $38.60, for a total value of $71,332.80. Following the transaction, the vice president owned 7,366 shares of the company’s stock, valued at approximately $284,327.60. This represents a 20.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 64.51% of the company’s stock.

Institutional Investors Weigh In On Global Industrial

Institutional investors and hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC lifted its holdings in shares of Global Industrial by 0.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 61,392 shares of the company’s stock valued at $1,732,000 after purchasing an additional 323 shares during the last quarter. Swiss National Bank raised its holdings in Global Industrial by 1.9% during the 4th quarter. Swiss National Bank now owns 37,800 shares of the company’s stock worth $1,105,000 after buying an additional 700 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Global Industrial by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,146 shares of the company’s stock worth $706,000 after buying an additional 1,038 shares during the period. Russell Investments Group Ltd. lifted its stake in Global Industrial by 16.3% during the second quarter. Russell Investments Group Ltd. now owns 7,972 shares of the company’s stock valued at $215,000 after buying an additional 1,120 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Global Industrial by 2.3% during the second quarter. Bank of America Corp DE now owns 51,366 shares of the company’s stock valued at $1,387,000 after buying an additional 1,137 shares in the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

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.