Global Industrial (NYSE:GIC) Sets New 1-Year High – What’s Next?

Global Industrial Company (NYSE:GIC)’s share price hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $44.74 and last traded at $44.8580, with a volume of 97,811 shares. The stock had previously closed at $44.12.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Freedom Broker initiated coverage on shares of Global Industrial in a report on Wednesday, October 14th. They set a “hold” rating and a $39.00 price target for the company. Weiss Ratings lowered Global Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 25th. Finally, Wall Street Zen lowered Global Industrial from a “strong-buy” rating to a “buy” rating in a report on Saturday. Three equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Global Industrial has an average rating of “Hold” and an average price target of $39.00.

Global Industrial Trading Up 1.8%

The stock’s 50 day moving average price is $40.90 and its two-hundred day moving average price is $35.66. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.46 and a beta of 0.77.

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $377.40 million. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. On average, sell-side analysts forecast that Global Industrial Company will post 1.87 earnings per share for the current fiscal year.

Global Industrial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.12 dividend on an annualized basis and a yield of 2.5%. Global Industrial’s dividend payout ratio (DPR) is 50.00%.

Insider Transactions at Global Industrial

In other news, SVP Claudia Hughes sold 4,753 shares of Global Industrial stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $39.78, for a total transaction of $189,074.34. Following the completion of the sale, the senior vice president directly owned 32,167 shares in the company, valued at approximately $1,279,603.26. This trade represents a 12.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas Axmacher sold 1,848 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $38.60, for a total value of $71,332.80. Following the sale, the vice president directly owned 7,366 shares in the company, valued at $284,327.60. This trade represents a 20.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 9,287 shares of company stock valued at $363,904. 64.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Global Industrial

Several hedge funds and other institutional investors have recently bought and sold shares of GIC. Nisa Investment Advisors LLC boosted its position in Global Industrial by 166.4% during the third quarter. Nisa Investment Advisors LLC now owns 6,639 shares of the company’s stock worth $278,000 after purchasing an additional 4,147 shares in the last quarter. Tidal Investments LLC acquired a new stake in Global Industrial in the second quarter valued at $604,000. Corient Private Wealth LP purchased a new position in shares of Global Industrial in the second quarter valued at $260,000. Odyssean LLC purchased a new position in shares of Global Industrial in the second quarter valued at $217,000. Finally, Grandeur Peak Global Advisors LLC increased its position in shares of Global Industrial by 88.0% in the second quarter. Grandeur Peak Global Advisors LLC now owns 42,089 shares of the company’s stock valued at $1,408,000 after buying an additional 19,703 shares in the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

Global Industrial Company Profile

Global Industrial Company (NYSE:GIC) is a distributor of industrial, commercial and business products serving organizations across North America. The company sells products through its e-commerce platforms, catalogs and sales representatives, serving businesses, government agencies, educational institutions and other commercial customers.

Its product offerings include material-handling and storage equipment, shelving, cabinets, workbenches, safety supplies, janitorial and sanitation products, packaging materials, tools, lighting, HVAC equipment, office furniture and other facility-maintenance products.