Global Industrial (NYSE:GIC) Short Interest Up 25.5% in June

Global Industrial (NYSE:GIC) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 246,300 shares, a growth of 25.5% from the May 31st total of 196,300 shares. Based on an average daily volume of 74,000 shares, the short-interest ratio is currently 3.3 days. Approximately 3.1% of the shares of the stock are sold short.

Global Industrial Stock Down 1.8 %

NYSE:GIC opened at $30.80 on Tuesday. The firm’s fifty day simple moving average is $34.48 and its 200-day simple moving average is $39.46. The stock has a market cap of $1.18 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.02 and a beta of 0.85. Global Industrial has a fifty-two week low of $26.36 and a fifty-two week high of $46.97.

Global Industrial (NYSE:GIC) last issued its earnings results on Tuesday, April 30th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.04). Global Industrial had a return on equity of 28.39% and a net margin of 5.34%. The company had revenue of $323.40 million for the quarter, compared to analyst estimates of $322.27 million. Equities analysts anticipate that Global Industrial will post 1.93 earnings per share for the current year.

Global Industrial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 3.25%. Global Industrial’s dividend payout ratio is presently 54.35%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GIC. Mawer Investment Management Ltd. increased its holdings in Global Industrial by 3.2% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,002,426 shares of the company’s stock valued at $89,669,000 after acquiring an additional 62,777 shares in the last quarter. Vanguard Group Inc. lifted its stake in Global Industrial by 137.3% in the 1st quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock valued at $32,118,000 after buying an additional 414,924 shares in the last quarter. FMR LLC grew its holdings in Global Industrial by 520.0% during the 3rd quarter. FMR LLC now owns 409,721 shares of the company’s stock valued at $13,726,000 after buying an additional 343,633 shares during the last quarter. Isthmus Partners LLC increased its position in Global Industrial by 38.4% during the first quarter. Isthmus Partners LLC now owns 96,047 shares of the company’s stock worth $4,301,000 after buying an additional 26,655 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired 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.

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.