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

Global Industrial Company (NYSE:GIC) shares hit a new 52-week high during mid-day trading on Monday. The company traded as high as $43.90 and last traded at $43.2490, with a volume of 121423 shares traded. The stock had previously closed at $43.61.

Analyst Ratings Changes

A number of research analysts have weighed in on GIC shares. Wall Street Zen upgraded shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Weiss Ratings lowered shares of Global Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 25th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Global Industrial Price Performance

The stock has a market capitalization of $1.66 billion, a PE ratio of 19.40, a P/E/G ratio of 1.46 and a beta of 0.77. The firm has a fifty day moving average price of $39.72 and a two-hundred day moving average price of $34.79.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The company had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $377.40 million. Global Industrial had a return on equity of 21.49% and a net margin of 6.06%. On average, research analysts expect that Global Industrial Company will post 1.87 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, August 17th. Global Industrial’s dividend payout ratio (DPR) is 50.00%.

Insiders Place Their Bets

In related news, VP Thomas Axmacher sold 952 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $39.10, for a total value of $37,223.20. Following the transaction, the vice president owned 6,414 shares of the company’s stock, valued at $250,787.40. This trade represents a 12.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Claudia Hughes sold 4,753 shares of Global Industrial stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $39.78, for a total transaction of $189,074.34. Following the sale, the senior vice president owned 32,167 shares of the company’s stock, valued at $1,279,603.26. The trade was a 12.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,287 shares of company stock valued at $363,904 over the last three months. Insiders own 64.51% of the company’s stock.

Hedge Funds Weigh In On Global Industrial

A number of institutional investors have recently modified their holdings of GIC. Bard Associates Inc. purchased a new stake in shares of Global Industrial in the second quarter valued at approximately $67,000. Empowered Funds LLC bought a new position in Global Industrial in the second quarter worth approximately $211,000. Odyssean LLC purchased a new position in Global Industrial during the 2nd quarter worth $217,000. State of Wyoming purchased a new position in Global Industrial during the 2nd quarter worth $219,000. Finally, Jupiter Topco LLC bought a new stake in Global Industrial during the 2nd quarter valued at $220,000. 31.19% of the stock is owned by hedge funds and other institutional investors.

Global Industrial Company Profile

Global Industrial Company (NYSE:GIC) is a distributor of industrial and maintenance, repair and operations (MRO) products. The company serves businesses, government agencies and other organizations through digital commerce, direct sales and product catalogs.

Its product range includes material-handling and storage equipment, shelving, cabinets, workstations, safety supplies, janitorial and facility-maintenance products, packaging supplies, tools, HVAC equipment and office furnishings. Global Industrial offers products from its own brands as well as third-party manufacturers, with solutions designed for workplaces, warehouses, commercial facilities and industrial operations.

The company primarily serves customers in the United States and Canada.