Global Industrial Company (NYSE:GIC) Declares Dividend Increase – $0.28 Per Share

Global Industrial Company (NYSE:GIC) declared a quarterly dividend on Tuesday, February 24th. Stockholders of record on Monday, March 9th will be given a dividend of 0.28 per share on Monday, March 16th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, March 9th. This is a 7.7% increase from Global Industrial’s previous quarterly dividend of $0.26.

Global Industrial has raised its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 9 years. Global Industrial has a dividend payout ratio of 56.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Global Industrial to earn $1.66 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 62.7%.

Global Industrial Stock Performance

Global Industrial stock traded up $2.71 during trading on Wednesday, reaching $33.64. The company had a trading volume of 98,573 shares, compared to its average volume of 88,199. Global Industrial has a 12-month low of $20.79 and a 12-month high of $38.79. The stock’s 50 day moving average price is $30.95 and its two-hundred day moving average price is $32.28. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 0.98 and a beta of 0.90.

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. The company had revenue of $345.60 million during the quarter, compared to analysts’ expectations of $324.86 million. Global Industrial had a net margin of 5.11% and a return on equity of 22.85%. As a group, research analysts expect that Global Industrial will post 1.59 earnings per share for the current year.

Hedge Funds Weigh In On Global Industrial

A number of hedge funds have recently bought and sold shares of the company. New York State Teachers Retirement System acquired a new position in shares of Global Industrial in the 4th quarter worth approximately $38,000. State of Alaska Department of Revenue bought a new position in Global Industrial in the third quarter worth about $79,000. Advisors Asset Management Inc. boosted its stake in Global Industrial by 234.9% in the fourth quarter. Advisors Asset Management Inc. now owns 2,502 shares of the company’s stock valued at $73,000 after acquiring an additional 1,755 shares during the period. State of Wyoming bought a new position in shares of Global Industrial during the second quarter valued at approximately $117,000. Finally, CWM LLC grew its holdings in shares of Global Industrial by 185.2% during the second quarter. CWM LLC now owns 4,603 shares of the company’s stock valued at $124,000 after purchasing an additional 2,989 shares during the last quarter. 31.19% of the stock is currently owned by institutional investors and hedge funds.

About Global Industrial

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.