Global Industrial (NYSE:GIC) Sees Large Decrease in Short Interest

Global Industrial (NYSE:GIC) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 280,100 shares, a decrease of 5.8% from the August 15th total of 297,300 shares. Approximately 3.6% of the company’s shares are short sold. Based on an average trading volume of 65,900 shares, the days-to-cover ratio is presently 4.3 days.

Global Industrial Stock Up 2.9 %

NYSE GIC opened at $33.77 on Friday. The firm’s 50 day moving average is $33.05 and its 200-day moving average is $36.19. Global Industrial has a 12-month low of $30.13 and a 12-month high of $46.97. The company has a market capitalization of $1.29 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.00 and a beta of 0.83.

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

Global Industrial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.96%. Global Industrial’s dividend payout ratio (DPR) is currently 54.35%.

Hedge Funds Weigh In On Global Industrial

Institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers grew its position in Global Industrial by 2.1% during the second quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock worth $619,000 after buying an additional 397 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Global Industrial by 3.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company’s stock worth $576,000 after purchasing an additional 459 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Global Industrial by 12.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock worth $252,000 after purchasing an additional 919 shares during the period. Quadrature Capital Ltd increased its position in shares of Global Industrial by 14.2% in the first quarter. Quadrature Capital Ltd now owns 8,918 shares of the company’s stock worth $399,000 after purchasing an additional 1,106 shares during the period. Finally, National Bank of Canada FI raised its stake in Global Industrial by 41.8% in the second quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock valued at $153,000 after purchasing an additional 1,472 shares in the last quarter. 31.19% of the stock is currently owned by institutional investors and hedge funds.

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.