Global Industrial Company (NYSE:GIC) Short Interest Down 15.4% in March

Global Industrial Company (NYSE:GIC) saw a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 249,916 shares, a decrease of 15.4% from the February 26th total of 295,267 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average trading volume of 124,775 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GIC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Industrial in a research note on Thursday, January 22nd. Zacks Research upgraded shares of Global Industrial from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Finally, Wall Street Zen raised shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Global Industrial Trading Up 1.8%

Shares of NYSE GIC opened at $31.41 on Wednesday. The stock has a fifty day moving average price of $31.63 and a 200 day moving average price of $31.39. Global Industrial has a 12-month low of $20.79 and a 12-month high of $38.79. The company has a market cap of $1.20 billion, a P/E ratio of 16.88, a P/E/G ratio of 0.96 and a beta of 0.90.

Global Industrial (NYSE:GIC) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Global Industrial had a return on equity of 23.56% and a net margin of 5.23%.The company had revenue of $345.60 million for the quarter, compared to analysts’ expectations of $324.86 million. On average, sell-side analysts forecast that Global Industrial will post 1.59 EPS for the current fiscal year.

Global Industrial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were given a dividend of $0.28 per share. This is a boost from Global Industrial’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, March 9th. This represents a $1.12 annualized dividend and a yield of 3.6%. Global Industrial’s dividend payout ratio is presently 60.22%.

Institutional Trading of Global Industrial

Large investors have recently bought and sold shares of the company. Hsbc Holdings PLC raised its stake in shares of Global Industrial by 40.3% during the fourth quarter. Hsbc Holdings PLC now owns 63,114 shares of the company’s stock valued at $1,860,000 after purchasing an additional 18,123 shares during the period. VARCOV Co. purchased a new position in shares of Global Industrial in the fourth quarter valued at $293,000. Tudor Investment Corp ET AL grew its holdings in Global Industrial by 8.7% during the 4th quarter. Tudor Investment Corp ET AL now owns 67,687 shares of the company’s stock valued at $1,978,000 after purchasing an additional 5,407 shares in the last quarter. Polymer Capital Management US LLC grew its holdings in Global Industrial by 11.5% during the 4th quarter. Polymer Capital Management US LLC now owns 11,641 shares of the company’s stock valued at $340,000 after purchasing an additional 1,201 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Global Industrial by 7.6% during the 4th quarter. Millennium Management LLC now owns 244,233 shares of the company’s stock worth $7,136,000 after buying an additional 17,194 shares during the period. Institutional investors and hedge funds own 31.19% of the company’s stock.

Global Industrial Company Profile

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.