Global Industrial (NYSE:GIC) Trading Up 1.3% – Should You Buy?

Global Industrial Company (NYSE:GIC)’s share price rose 1.3% on Thursday . The company traded as high as $30.62 and last traded at $30.3860. Approximately 209,586 shares were traded during mid-day trading, an increase of 71% from the average daily volume of 122,461 shares. The stock had previously closed at $30.00.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GIC. Wall Street Zen upgraded shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 31st. Zacks Research raised Global Industrial from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Global Industrial in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Global Industrial Trading Up 1.3%

The stock has a market capitalization of $1.16 billion, a P/E ratio of 16.34, a P/E/G ratio of 0.94 and a beta of 0.90. The business’s fifty day simple moving average is $31.64 and its two-hundred day simple moving average is $31.84.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.03. The company had revenue of $345.60 million for the quarter, compared to the consensus estimate of $324.86 million. Global Industrial had a net margin of 5.23% and a return on equity of 23.56%. On average, equities research analysts anticipate that Global Industrial Company will post 1.59 earnings per share for the current year.

Global Industrial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were issued a $0.28 dividend. This is a positive change 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 3.7%. Global Industrial’s payout ratio is currently 60.22%.

Institutional Trading of Global Industrial

Several institutional investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. acquired a new stake in shares of Global Industrial during the 3rd quarter valued at about $6,985,000. Teacher Retirement System of Texas lifted its stake in Global Industrial by 114.3% during the third quarter. Teacher Retirement System of Texas now owns 29,864 shares of the company’s stock worth $1,095,000 after purchasing an additional 15,926 shares during the period. Bank of New York Mellon Corp lifted its stake in Global Industrial by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 308,639 shares of the company’s stock worth $8,336,000 after purchasing an additional 2,083 shares during the period. GSA Capital Partners LLP boosted its holdings in Global Industrial by 6.5% during the third quarter. GSA Capital Partners LLP now owns 9,410 shares of the company’s stock valued at $345,000 after purchasing an additional 574 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Global Industrial by 3.2% during the third quarter. Rhumbline Advisers now owns 21,207 shares of the company’s stock valued at $778,000 after purchasing an additional 666 shares in the last quarter. Institutional investors and hedge funds own 31.19% of the company’s stock.

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.