Global Industrial (NYSE:GIC) Reaches New 1-Year Low - Here's What Happened

Global Industrial (NYSE:GIC - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $23.75 and last traded at $23.92, with a volume of 6101 shares traded. The stock had previously closed at $24.51.

Global Industrial Price Performance

The company's 50-day simple moving average is $26.71 and its two-hundred day simple moving average is $30.61. The firm has a market capitalization of $894.22 million, a P/E ratio of 13.76, a P/E/G ratio of 1.04 and a beta of 0.88.

Global Industrial (NYSE:GIC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.14). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The firm had revenue of $342.40 million for the quarter, compared to the consensus estimate of $353.44 million. During the same quarter in the previous year, the business earned $0.54 earnings per share. Analysts predict that Global Industrial will post 1.62 earnings per share for the current year.

Global Industrial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 4.28%. Global Industrial's payout ratio is currently 58.82%.

Insider Transactions at Global Industrial

In other news, Vice Chairman Bruce Leeds sold 5,840 shares of the business's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total transaction of $165,155.20. Following the completion of the sale, the insider now directly owns 23,675 shares of the company's stock, valued at approximately $669,529. The trade was a 19.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 65.30% of the company's stock.

Institutional Trading of Global Industrial

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in Global Industrial by 39.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 46,005 shares of the company's stock valued at $1,563,000 after acquiring an additional 13,105 shares in the last quarter. Barclays PLC grew its stake in shares of Global Industrial by 221.5% during the third quarter. Barclays PLC now owns 30,622 shares of the company's stock worth $1,041,000 after acquiring an additional 21,097 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Global Industrial by 3.5% during the third quarter. Geode Capital Management LLC now owns 316,083 shares of the company's stock valued at $10,740,000 after acquiring an additional 10,601 shares in the last quarter. State Street Corp boosted its stake in Global Industrial by 2.6% in the 3rd quarter. State Street Corp now owns 315,779 shares of the company's stock worth $10,727,000 after purchasing an additional 8,136 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in Global Industrial by 101.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 177,884 shares of the company's stock valued at $6,043,000 after purchasing an additional 89,780 shares in the last quarter. 31.19% of the stock is owned by hedge funds and other institutional investors.

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.