Global Industrial (NYSE:GIC) Sets New 12-Month High – Still a Buy?

Global Industrial Company (NYSE:GIC)’s share price reached a new 52-week high during trading on Thursday. The stock traded as high as $44.73 and last traded at $43.70, with a volume of 7,514 shares changing hands. The stock had previously closed at $44.09.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GIC shares. Weiss Ratings lowered Global Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 25th. Freedom Broker started coverage on Global Industrial in a research note on Wednesday. They issued a “hold” rating and a $39.00 target price for the company. Finally, Wall Street Zen upgraded Global Industrial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Three equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $39.00.

Global Industrial Price Performance

The firm has a market cap of $1.66 billion, a P/E ratio of 19.42, a PEG ratio of 1.47 and a beta of 0.77. The stock’s 50 day moving average is $40.55 and its two-hundred day moving average is $35.31.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The firm had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $377.40 million. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. As a group, research analysts forecast that Global Industrial Company will post 1.87 EPS for the current fiscal year.

Global Industrial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.6%. Global Industrial’s dividend payout ratio is presently 50.00%.

Insider Buying and Selling

In related news, VP Thomas Axmacher sold 1,848 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $38.60, for a total value of $71,332.80. Following the sale, the vice president owned 7,366 shares of the company’s stock, valued at $284,327.60. The trade was a 20.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Claudia Hughes sold 4,753 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $39.78, for a total value of $189,074.34. Following the completion of the sale, the senior vice president directly owned 32,167 shares in the company, valued at approximately $1,279,603.26. This represents a 12.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 9,287 shares of company stock valued at $363,904. 64.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Global Industrial in the 2nd quarter valued at $53,365,000. Bank of New York Mellon Corp acquired a new stake in shares of Global Industrial during the 2nd quarter worth about $10,510,000. Bank of America Corp DE bought a new position in Global Industrial during the 2nd quarter valued at about $3,367,000. Edgestream Partners L.P. bought a new position in Global Industrial during the 1st quarter valued at about $2,920,000. Finally, Hsbc Holdings PLC bought a new position in Global Industrial during the 2nd quarter valued at about $2,757,000. 31.19% of the stock is owned by institutional investors.

About Global Industrial

Global Industrial Company (NYSE:GIC) is a distributor of industrial and maintenance, repair and operations (MRO) products. The company serves businesses, government agencies and other organizations through digital commerce, direct sales and product catalogs.

Its product range includes material-handling and storage equipment, shelving, cabinets, workstations, safety supplies, janitorial and facility-maintenance products, packaging supplies, tools, HVAC equipment and office furnishings. Global Industrial offers products from its own brands as well as third-party manufacturers, with solutions designed for workplaces, warehouses, commercial facilities and industrial operations.

The company primarily serves customers in the United States and Canada.