Global Industrial (NYSE:GIC) Sees Unusually-High Trading Volume - Here's What Happened

Shares of Global Industrial (NYSE:GIC - Get Free Report) saw an uptick in trading volume on Wednesday . 188,048 shares traded hands during trading, an increase of 60% from the previous session's volume of 117,410 shares.The stock last traded at $22.28 and had previously closed at $22.35.

Global Industrial Trading Down 0.9 %

The business's 50-day simple moving average is $22.91 and its 200 day simple moving average is $25.92. The firm has a market cap of $814.49 million, a PE ratio of 12.51, a P/E/G ratio of 0.93 and a beta of 0.85.

Global Industrial (NYSE:GIC - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.03). The business had revenue of $302.30 million for the quarter, compared to analysts' expectations of $306.07 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. Analysts expect that Global Industrial will post 1.59 earnings per share for the current year.

Global Industrial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.89%. The ex-dividend date was Monday, March 10th. This is a positive change from Global Industrial's previous quarterly dividend of $0.25. Global Industrial's payout ratio is presently 66.24%.

Institutional Trading of Global Industrial

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings in shares of Global Industrial by 340.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company's stock worth $39,000 after acquiring an additional 1,206 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Global Industrial during the 4th quarter worth $50,000. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 2,256 shares in the last quarter. Quantbot Technologies LP raised its holdings in Global Industrial by 150.3% during the fourth quarter. Quantbot Technologies LP now owns 3,614 shares of the company's stock worth $90,000 after purchasing an additional 2,170 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in 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 during the last quarter. Hedge funds and other institutional investors 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.