Global Industrial (NYSE:GIC) Shares Gap Down – Here’s Why

Global Industrial Company (NYSE:GIC) shares gapped down before the market opened on Monday . The stock had previously closed at $30.22, but opened at $28.83. Global Industrial shares last traded at $29.1150, with a volume of 3,726 shares traded.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Weiss Ratings raised Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Wall Street Zen downgraded Global Industrial from a “strong-buy” rating to a “buy” rating in a report on Saturday. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Global Industrial Stock Performance

The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.97 and a beta of 0.83. The company has a fifty day simple moving average of $32.19 and a two-hundred day simple moving average of $30.87.

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, May 5th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). The firm had revenue of $350.40 million during the quarter, compared to the consensus estimate of $344.13 million. Global Industrial had a net margin of 5.33% and a return on equity of 23.69%. As a group, equities analysts anticipate that Global Industrial Company will post 1.89 earnings per share for the current year.

Global Industrial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Monday, May 18th will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.12 annualized dividend and a yield of 3.9%. Global Industrial’s dividend payout ratio (DPR) is presently 58.03%.

Institutional Investors Weigh In On Global Industrial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its stake in Global Industrial by 0.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 61,392 shares of the company’s stock valued at $1,732,000 after buying an additional 323 shares during the last quarter. GSA Capital Partners LLP increased its position in Global Industrial by 6.5% in the third quarter. GSA Capital Partners LLP now owns 9,410 shares of the company’s stock worth $345,000 after buying an additional 574 shares during the last quarter. Meritage Portfolio Management increased its position in Global Industrial by 0.8% in the third quarter. Meritage Portfolio Management now owns 79,424 shares of the company’s stock worth $2,912,000 after buying an additional 649 shares during the last quarter. Rhumbline Advisers increased its position in Global Industrial by 3.2% in the third quarter. Rhumbline Advisers now owns 21,207 shares of the company’s stock worth $778,000 after buying an additional 666 shares during the last quarter. Finally, Swiss National Bank increased its position in Global Industrial by 1.9% in the fourth quarter. Swiss National Bank now owns 37,800 shares of the company’s stock worth $1,105,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Global Industrial Company Profile

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.