Global Industrial (NYSE:GIC - Get Free Report) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 154,800 shares, a drop of 36.3% from the February 28th total of 242,900 shares. Based on an average trading volume of 115,000 shares, the short-interest ratio is currently 1.3 days. Approximately 2.0% of the shares of the stock are sold short.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its position in Global Industrial by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 120,803 shares of the company's stock worth $4,104,000 after buying an additional 456 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Global Industrial by 9.8% during the third quarter. The Manufacturers Life Insurance Company now owns 8,808 shares of the company's stock valued at $299,000 after acquiring an additional 786 shares during the last quarter. MetLife Investment Management LLC increased its position in Global Industrial by 13.6% during the 4th quarter. MetLife Investment Management LLC now owns 8,215 shares of the company's stock worth $204,000 after purchasing an additional 982 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Global Industrial by 340.7% in the 4th 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 last quarter. Finally, Bank of America Corp DE lifted its holdings in Global Industrial by 3.6% in the 4th quarter. Bank of America Corp DE now owns 41,710 shares of the company's stock valued at $1,034,000 after purchasing an additional 1,443 shares in the last quarter. 31.19% of the stock is owned by hedge funds and other institutional investors.
Global Industrial Price Performance
GIC traded up $0.36 during trading on Wednesday, reaching $22.88. 76,328 shares of the stock were exchanged, compared to its average volume of 86,528. The company has a market capitalization of $876.56 million, a price-to-earnings ratio of 13.46, a P/E/G ratio of 0.93 and a beta of 0.85. Global Industrial has a 1 year low of $22.09 and a 1 year high of $45.69. The business's 50 day moving average price is $23.70 and its two-hundred day moving average price is $27.04.
Global Industrial (NYSE:GIC - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $306.07 million. On average, analysts anticipate that Global Industrial will post 1.59 EPS for the current year.
Global Industrial Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.26 dividend. The ex-dividend date was Monday, March 10th. This is a positive change from Global Industrial's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 4.55%. Global Industrial's dividend payout ratio is currently 66.24%.
About Global Industrial
(
Get Free Report)
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.
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