Global Industrial (NYSE:GIC) Reaches New 52-Week Low – Should You Sell?

Global Industrial (NYSE:GIC) hit a new 52-week low on Thursday . The stock traded as low as $21.51 and last traded at $21.70, with a volume of 8803 shares changing hands. The stock had previously closed at $22.87.

Global Industrial Price Performance

The business’s 50 day simple moving average is $23.56 and its 200-day simple moving average is $26.93. The stock has a market capitalization of $839.24 million, a P/E ratio of 12.89, a PEG ratio of 0.93 and a beta of 0.85.

Global Industrial (NYSE:GIC) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.03). The company had revenue of $302.30 million during the quarter, compared to the consensus estimate of $306.07 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. Research analysts anticipate that Global Industrial will post 1.59 earnings per share for the current fiscal year.

Global Industrial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Global Industrial’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.75%. Global Industrial’s dividend payout ratio is 66.24%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC raised its holdings in Global Industrial by 221.5% in the third quarter. Barclays PLC now owns 30,622 shares of the company’s stock worth $1,041,000 after purchasing an additional 21,097 shares during the period. JPMorgan Chase & Co. lifted its holdings in Global Industrial by 39.8% during the third quarter. JPMorgan Chase & Co. now owns 46,005 shares of the company’s stock worth $1,563,000 after acquiring an additional 13,105 shares in the last quarter. New York State Common Retirement Fund grew its stake in Global Industrial by 34.6% in the fourth quarter. New York State Common Retirement Fund now owns 37,772 shares of the company’s stock valued at $936,000 after acquiring an additional 9,700 shares during the period. FMR LLC raised its position in shares of Global Industrial by 14.7% during the third quarter. FMR LLC now owns 2,534,156 shares of the company’s stock worth $86,085,000 after purchasing an additional 325,555 shares during the period. Finally, State Street Corp lifted its holdings in shares of Global Industrial by 2.6% during the 3rd quarter. State Street Corp now owns 315,779 shares of the company’s stock valued at $10,727,000 after purchasing an additional 8,136 shares in the last quarter. Institutional investors own 31.19% of the company’s stock.

Global Industrial Company Profile

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.