Short Interest in Global Industrial (NYSE:GIC) Declines By 7.5%

Global Industrial (NYSE:GIC) was the recipient of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 328,400 shares, a drop of 7.5% from the October 31st total of 355,000 shares. Based on an average daily volume of 76,800 shares, the short-interest ratio is presently 4.3 days. Approximately 4.2% of the shares of the stock are sold short.

Global Industrial Price Performance

GIC traded down $0.20 during trading on Wednesday, hitting $27.61. The company’s stock had a trading volume of 18,596 shares, compared to its average volume of 78,562. Global Industrial has a twelve month low of $25.00 and a twelve month high of $46.97. The firm’s 50 day moving average price is $30.64 and its 200-day moving average price is $32.14. The stock has a market cap of $1.06 billion, a PE ratio of 16.23, a PEG ratio of 1.08 and a beta of 0.86.

Global Industrial (NYSE:GIC) last posted its earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.14). The business had revenue of $342.40 million for the quarter, compared to analyst estimates of $353.44 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. During the same quarter in the previous year, the firm posted $0.54 EPS. Equities analysts anticipate that Global Industrial will post 1.62 earnings per share for the current year.

Global Industrial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Friday, November 8th. Global Industrial’s dividend payout ratio is presently 58.82%.

Insider Activity at Global Industrial

In other news, Vice Chairman Bruce Leeds sold 5,840 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total value of $165,155.20. Following the completion of the transaction, the insider now directly owns 23,675 shares of the company’s stock, valued at $669,529. The trade was a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 65.30% of the company’s stock.

Institutional Investors Weigh In On Global Industrial

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Global Industrial by 137.3% during the 1st quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock valued at $32,118,000 after purchasing an additional 414,924 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Global Industrial by 3.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company’s stock valued at $576,000 after purchasing an additional 459 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Global Industrial by 7.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 62,583 shares of the company’s stock valued at $1,963,000 after purchasing an additional 4,448 shares during the period. Rhumbline Advisers increased its stake in shares of Global Industrial by 2.1% in the second quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock valued at $619,000 after purchasing an additional 397 shares during the period. Finally, National Bank of Canada FI raised its holdings in shares of Global Industrial by 41.8% during the second quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock valued at $153,000 after buying an additional 1,472 shares during the last quarter. Institutional investors own 31.19% of the company’s stock.

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.