Global Industrial (NYSE:GIC) Sees Strong Trading Volume – Here’s What Happened

Shares of Global Industrial (NYSE:GIC) saw unusually-high trading volume on Wednesday . Approximately 411,870 shares were traded during mid-day trading, an increase of 423% from the previous session’s volume of 78,825 shares.The stock last traded at $29.54 and had previously closed at $26.97.

Global Industrial Trading Up 10.4 %

The company has a market cap of $1.14 billion, a P/E ratio of 17.14, a PEG ratio of 1.03 and a beta of 0.86. The business’s fifty day moving average is $32.41 and its 200 day moving average is $33.35.

Global Industrial (NYSE:GIC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). The company had revenue of $342.40 million during the quarter, compared to the consensus estimate of $353.44 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. During the same period last year, the firm posted $0.54 EPS. As a group, research analysts expect that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Monday, November 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.36%. Global Industrial’s dividend payout ratio (DPR) is presently 58.82%.

Institutional Investors Weigh In On Global Industrial

Several institutional investors have recently made changes to their positions in GIC. Mawer Investment Management Ltd. lifted its position in shares of Global Industrial by 3.2% during the first quarter. Mawer Investment Management Ltd. now owns 2,002,426 shares of the company’s stock worth $89,669,000 after acquiring an additional 62,777 shares in the last quarter. Gallacher Capital Management LLC purchased a new stake in shares of Global Industrial during the first quarter worth $324,000. Isthmus Partners LLC increased its holdings in shares of Global Industrial by 38.4% in the first quarter. Isthmus Partners LLC now owns 96,047 shares of the company’s stock worth $4,301,000 after purchasing an additional 26,655 shares during the period. Vanguard Group Inc. increased its holdings in shares of Global Industrial by 137.3% in the first quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock worth $32,118,000 after purchasing an additional 414,924 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Global Industrial in the first quarter worth $3,824,000. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Global Industrial Company Profile

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.