Global Industrial (NYSE:GIC) Shares Gap Down – Time to Sell?

Global Industrial Company (NYSE:GIC)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $30.22, but opened at $28.83. Global Industrial shares last traded at $29.1150, with a volume of 3,726 shares.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GIC shares. Wall Street Zen downgraded Global Industrial from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings raised shares of Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Global Industrial presently has an average rating of “Hold”.

Global Industrial Trading Up 1.4%

The business has a 50-day moving average price of $31.94 and a 200 day moving average price of $30.75. The stock has a market cap of $1.11 billion, a PE ratio of 15.08, a PEG ratio of 0.95 and a beta of 0.83.

Global Industrial (NYSE:GIC) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). Global Industrial had a net margin of 5.33% and a return on equity of 23.69%. The firm had revenue of $350.40 million for the quarter, compared to analysts’ expectations of $344.13 million. On average, equities analysts predict that Global Industrial Company will post 1.89 earnings per share for the current year.

Global Industrial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Monday, May 18th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, May 18th. Global Industrial’s payout ratio is presently 58.03%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GIC. New York State Teachers Retirement System bought a new position in shares of Global Industrial in the fourth quarter worth $38,000. Advisors Asset Management Inc. increased its holdings in shares of Global Industrial by 234.9% in the fourth quarter. Advisors Asset Management Inc. now owns 2,502 shares of the company’s stock worth $73,000 after purchasing an additional 1,755 shares during the period. State of Alaska Department of Revenue purchased a new stake in Global Industrial in the third quarter valued at approximately $79,000. State of Wyoming purchased a new stake in Global Industrial in the second quarter valued at approximately $117,000. Finally, Arizona State Retirement System purchased a new stake in Global Industrial in the third quarter valued at approximately $208,000. Hedge funds and other institutional investors 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.