Short Interest in Global Industrial (NYSE:GIC) Declines By 5.8%

Global Industrial (NYSE:GIC - Get Free Report) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 280,100 shares, a decrease of 5.8% from the August 15th total of 297,300 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average daily volume of 65,900 shares, the days-to-cover ratio is currently 4.3 days.

Global Industrial Stock Performance

Shares of GIC stock traded up $0.04 during mid-day trading on Wednesday, reaching $32.83. The company's stock had a trading volume of 49,651 shares, compared to its average volume of 76,449. The firm's 50-day moving average is $33.01 and its two-hundred day moving average is $36.22. The company has a market cap of $1.25 billion, a P/E ratio of 17.84, a PEG ratio of 1.00 and a beta of 0.83. Global Industrial has a 1-year low of $30.13 and a 1-year high of $46.97.

Global Industrial (NYSE:GIC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The firm had revenue of $347.80 million during the quarter, compared to analyst estimates of $348.84 million. Global Industrial had a net margin of 5.16% and a return on equity of 26.82%. During the same quarter in the prior year, the business posted $0.56 earnings per share. Sell-side analysts anticipate that Global Industrial will post 1.97 EPS for the current year.

Global Industrial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.05%. Global Industrial's payout ratio is presently 54.35%.

Institutional Investors Weigh In On Global Industrial

Institutional investors and hedge funds have recently made changes to their positions in the company. Jump Financial LLC boosted its position in Global Industrial by 94.1% in the fourth quarter. Jump Financial LLC now owns 11,841 shares of the company's stock valued at $460,000 after buying an additional 5,741 shares in the last quarter. Panagora Asset Management Inc. grew its position in Global Industrial by 18.6% during the 4th quarter. Panagora Asset Management Inc. now owns 61,257 shares of the company's stock worth $2,379,000 after acquiring an additional 9,589 shares during the last quarter. Trexquant Investment LP grew its position in Global Industrial by 60.3% during the 4th quarter. Trexquant Investment LP now owns 12,574 shares of the company's stock worth $488,000 after acquiring an additional 4,732 shares during the last quarter. Isthmus Partners LLC increased its holdings in Global Industrial by 3.2% during the 4th quarter. Isthmus Partners LLC now owns 69,392 shares of the company's stock valued at $2,695,000 after purchasing an additional 2,137 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Global Industrial in the 4th quarter valued at $526,000. 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.