Global Industrial (NYSE:GIC) Shares Gap Down to $38.51

Global Industrial (NYSE:GIC) gapped down before the market opened on Wednesday . The stock had previously closed at $38.51, but opened at $37.00. Global Industrial shares last traded at $35.26, with a volume of 18,603 shares trading hands.

Global Industrial Price Performance

The firm has a market capitalization of $1.31 billion, a PE ratio of 18.69, a P/E/G ratio of 1.21 and a beta of 0.88. The firm has a fifty day moving average price of $43.51 and a 200 day moving average price of $39.96.

Global Industrial (NYSE:GIC) last announced its earnings results on Thursday, February 29th. The company reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. Global Industrial had a return on equity of 29.76% and a net margin of 5.55%. The business had revenue of $320.10 million during the quarter, compared to the consensus estimate of $313.50 million. On average, sell-side analysts expect that Global Industrial will post 2.03 EPS for the current year.

Global Industrial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 11th were paid a $0.25 dividend. This is an increase from Global Industrial’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Friday, March 8th. Global Industrial’s dividend payout ratio is currently 54.05%.

Insider Buying and Selling

In related news, Vice Chairman Bruce Leeds sold 380,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $41.15, for a total value of $15,637,000.00. Following the completion of the sale, the insider now directly owns 139,800 shares of the company’s stock, valued at approximately $5,752,770. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 66.34% of the company’s stock.

Institutional Investors Weigh In On Global Industrial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mawer Investment Management Ltd. raised its stake in shares of Global Industrial by 2.7% during the 3rd quarter. Mawer Investment Management Ltd. now owns 1,967,554 shares of the company’s stock worth $65,913,000 after purchasing an additional 51,028 shares in the last quarter. FMR LLC increased its holdings in shares of Global Industrial by 520.0% during the 3rd quarter. FMR LLC now owns 409,721 shares of the company’s stock valued at $13,726,000 after acquiring an additional 343,633 shares during the last quarter. Isthmus Partners LLC grew its holdings in Global Industrial by 3.2% in the 4th quarter. Isthmus Partners LLC now owns 69,392 shares of the company’s stock valued at $2,695,000 after buying an additional 2,137 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in Global Industrial by 18.6% in the 4th quarter. Panagora Asset Management Inc. now owns 61,257 shares of the company’s stock valued at $2,379,000 after buying an additional 9,589 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in Global Industrial by 175.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 44,730 shares of the company’s stock valued at $1,737,000 after buying an additional 28,520 shares during the last quarter. 31.19% of the stock is owned by hedge funds and other 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.