Global Industrial (NYSE:GIC) Trading Down 0.3% – Time to Sell?

Global Industrial Company (NYSE:GIC) traded down 0.3% on Monday . The company traded as low as $32.73 and last traded at $32.8220. Approximately 99,072 shares traded hands during mid-day trading, an increase of 22% from the average daily volume of 81,413 shares. The stock had previously closed at $32.91.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings lowered Global Industrial from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 15th. Wall Street Zen downgraded Global Industrial from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Global Industrial Trading Down 0.3%

The business’s 50 day simple moving average is $31.33 and its two-hundred day simple moving average is $31.14. The firm has a market capitalization of $1.26 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.09 and a beta of 0.79.

Global Industrial (NYSE:GIC) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). Global Industrial had a return on equity of 23.53% and a net margin of 5.33%.The firm had revenue of $350.40 million during the quarter, compared to the consensus estimate of $344.13 million. As a group, equities research analysts anticipate that Global Industrial Company will post 1.89 earnings per share for the current year.

Global Industrial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 18th were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.4%. Global Industrial’s dividend payout ratio (DPR) is presently 58.03%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GIC. Tudor Investment Corp ET AL purchased a new stake in shares of Global Industrial in the 3rd quarter worth $2,284,000. Meritage Portfolio Management grew its holdings in Global Industrial by 34.8% during the fourth quarter. Meritage Portfolio Management now owns 107,047 shares of the company’s stock valued at $3,128,000 after purchasing an additional 27,623 shares during the period. Lazard Asset Management LLC increased its position in Global Industrial by 9.5% in the first quarter. Lazard Asset Management LLC now owns 57,453 shares of the company’s stock worth $1,811,000 after buying an additional 4,982 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Global Industrial by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 312,749 shares of the company’s stock worth $9,858,000 after buying an additional 5,842 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in shares of Global Industrial during the 1st quarter valued at about $2,920,000. 31.19% of the stock is currently owned by institutional investors.

About Global Industrial

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.