Global Industrial (NYSE:GIC) Reaches New 12-Month Low - Here's What Happened

Global Industrial (NYSE:GIC - Get Free Report) shares 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 trading hands. The stock had previously closed at $22.87.

Global Industrial Price Performance

The stock's fifty day moving average is $23.49 and its 200-day moving average is $26.76. The stock has a market capitalization of $810.81 million, a PE ratio of 12.41, a P/E/G ratio of 0.93 and a beta of 0.85.

Global Industrial (NYSE:GIC - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.03). The business had revenue of $302.30 million for the quarter, compared to analyst estimates of $306.07 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. On average, analysts forecast that Global Industrial will post 1.59 EPS for the current 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 paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.91%. This is an increase from Global Industrial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 10th. Global Industrial's dividend payout ratio is presently 66.24%.

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Institutional Investors Weigh In On Global Industrial

Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its position in shares of Global Industrial by 340.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company's stock valued at $39,000 after purchasing an additional 1,206 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Global Industrial in the 4th quarter worth about $50,000. GAMMA Investing LLC increased its stake in Global Industrial by 1,600.0% during the 1st quarter. GAMMA Investing LLC now owns 2,397 shares of the company's stock worth $54,000 after buying an additional 2,256 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of Global Industrial by 150.3% during the fourth quarter. Quantbot Technologies LP now owns 3,614 shares of the company's stock valued at $90,000 after acquiring an additional 2,170 shares during the last quarter. Finally, Wells Fargo & Company MN lifted 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 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.