Global Industrial (NYSE:GIC) Hits New 1-Year High – Should You Buy?

Global Industrial Company (NYSE:GIC)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $37.77 and last traded at $37.67, with a volume of 168038 shares trading hands. The stock had previously closed at $37.52.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Global Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd.

Global Industrial Price Performance

The firm has a market capitalization of $1.43 billion, a PE ratio of 21.79, a P/E/G ratio of 1.19 and a beta of 0.80. The business has a 50-day simple moving average of $31.19 and a 200-day simple moving average of $26.66.

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, July 29th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.15. Global Industrial had a return on equity of 22.89% and a net margin of 5.00%.The firm had revenue of $358.90 million for the quarter, compared to the consensus estimate of $351.81 million. On average, research analysts expect that Global Industrial Company will post 1.59 earnings per share for the current year.

Global Industrial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 2.8%. Global Industrial’s dividend payout ratio is currently 60.82%.

Hedge Funds Weigh In On Global Industrial

Large investors have recently made changes to their positions in the company. State of Wyoming purchased a new stake in Global Industrial in the 2nd quarter worth about $117,000. Engineers Gate Manager LP grew its stake in shares of Global Industrial by 22.8% during the second quarter. Engineers Gate Manager LP now owns 17,642 shares of the company’s stock valued at $477,000 after buying an additional 3,270 shares during the last quarter. Brevan Howard Capital Management LP purchased a new stake in shares of Global Industrial in the second quarter worth approximately $295,000. Bank of America Corp DE lifted its stake in shares of Global Industrial by 2.3% during the 2nd quarter. Bank of America Corp DE now owns 51,366 shares of the company’s stock worth $1,387,000 after acquiring an additional 1,137 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in Global Industrial by 87.9% during the 2nd quarter. Jane Street Group LLC now owns 33,462 shares of the company’s stock valued at $904,000 after acquiring an additional 15,656 shares during the period. 31.19% of the stock is owned by hedge funds and other institutional investors.

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.