Short Interest in Global Industrial (NYSE:GIC) Decreases By 8.0%

Global Industrial (NYSE:GIC) saw a large drop in short interest in July. As of July 31st, there was short interest totalling 267,200 shares, a drop of 8.0% from the July 15th total of 290,400 shares. Based on an average daily volume of 74,400 shares, the short-interest ratio is presently 3.6 days. Currently, 3.4% of the company’s stock are short sold.

Global Industrial Stock Performance

Shares of Global Industrial stock opened at $32.39 on Monday. Global Industrial has a one year low of $30.13 and a one year high of $46.97. The business has a 50-day simple moving average of $32.61 and a 200-day simple moving average of $38.00. The company has a market cap of $1.24 billion, a PE ratio of 17.60, a P/E/G ratio of 1.10 and a beta of 0.85.

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. Global Industrial had a net margin of 5.16% and a return on equity of 26.82%. The business had revenue of $347.80 million for the quarter, compared to analyst estimates of $348.84 million. During the same period last year, the business earned $0.56 EPS. On average, sell-side analysts predict that Global Industrial will post 1.97 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Monday, August 12th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 3.09%. Global Industrial’s payout ratio is currently 54.35%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GIC. Vanguard Group Inc. grew its stake in Global Industrial by 137.3% during the 1st quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock worth $32,118,000 after buying an additional 414,924 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Global Industrial during the 1st quarter valued at approximately $3,824,000. Mawer Investment Management Ltd. raised its stake 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 during the last quarter. Millennium Management LLC lifted its position in Global Industrial by 79.4% during the 2nd quarter. Millennium Management LLC now owns 126,107 shares of the company’s stock worth $3,955,000 after acquiring an additional 55,801 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in shares of Global Industrial in the second quarter valued at approximately $1,017,000. Institutional investors and hedge funds 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.