Global Industrial (NYSE:GIC) Sets New 52-Week Low – Should You Sell?

Global Industrial (NYSE:GIC)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $21.51 and last traded at $21.70, with a volume of 8803 shares. The stock had previously closed at $22.87.

Global Industrial Price Performance

The firm has a 50 day moving average of $23.70 and a two-hundred day moving average of $27.04. The stock has a market cap of $835.56 million, a PE ratio of 12.83, a PEG ratio of 0.93 and a beta of 0.85.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The company had revenue of $302.30 million during the quarter, compared to analysts’ expectations of $306.07 million. As a group, equities analysts anticipate that Global Industrial will post 1.59 EPS for the current fiscal year.

Global Industrial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Global Industrial’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.77%. Global Industrial’s dividend payout ratio (DPR) is 66.24%.

Institutional Trading of Global Industrial

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Global Industrial by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 120,803 shares of the company’s stock worth $4,104,000 after buying an additional 456 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Global Industrial by 9.8% during the third quarter. The Manufacturers Life Insurance Company now owns 8,808 shares of the company’s stock worth $299,000 after purchasing an additional 786 shares during the period. MetLife Investment Management LLC grew its position in Global Industrial by 13.6% in the 4th quarter. MetLife Investment Management LLC now owns 8,215 shares of the company’s stock valued at $204,000 after buying an additional 982 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Global Industrial by 340.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company’s stock worth $39,000 after buying an additional 1,206 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Global Industrial by 3.6% in the fourth quarter. Bank of America Corp DE now owns 41,710 shares of the company’s stock valued at $1,034,000 after acquiring an additional 1,443 shares in the last quarter. Institutional investors and hedge funds 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.