Global Industrial (NYSE:GIC) Hits New 12-Month Low - What's Next?

Global Industrial (NYSE:GIC - Get Free Report)'s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $22.80 and last traded at $22.93, with a volume of 4892 shares trading hands. The stock had previously closed at $23.27.

Global Industrial Price Performance

The company has a market capitalization of $883.83 million, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87. The company has a fifty day moving average price of $24.40 and a 200 day moving average price of $28.40.

Global Industrial (NYSE:GIC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.03). Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. The business had revenue of $302.30 million during the quarter, compared to the consensus estimate of $306.07 million. On average, equities research analysts predict that Global Industrial will post 1.59 earnings per share for the current fiscal year.

Global Industrial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.51%. This is a positive change from Global Industrial's previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 10th. Global Industrial's dividend payout ratio is 66.24%.

Hedge Funds Weigh In On Global Industrial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GIC. FMR LLC lifted its position in Global Industrial by 14.7% in the third quarter. FMR LLC now owns 2,534,156 shares of the company's stock worth $86,085,000 after purchasing an additional 325,555 shares during the period. J. Goldman & Co LP lifted its position in Global Industrial by 559.7% in the fourth quarter. J. Goldman & Co LP now owns 494,650 shares of the company's stock worth $12,262,000 after purchasing an additional 419,672 shares during the period. Bank of New York Mellon Corp lifted its position in Global Industrial by 65.6% in the fourth quarter. Bank of New York Mellon Corp now owns 319,282 shares of the company's stock worth $7,915,000 after purchasing an additional 126,431 shares during the period. Geode Capital Management LLC lifted its position in Global Industrial by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 319,056 shares of the company's stock worth $7,912,000 after purchasing an additional 2,973 shares during the period. Finally, State Street Corp lifted its position in Global Industrial by 2.6% in the third 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 during the period. 31.19% of the stock is owned by institutional investors.

About Global Industrial

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.