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

Shares of Global Industrial Company (NYSE:GIC) hit a new 52-week high on Thursday. The stock traded as high as $44.73 and last traded at $43.70, with a volume of 7,514 shares changing hands. The stock had previously closed at $44.09.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Weiss Ratings cut Global Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 25th. Freedom Broker started coverage on Global Industrial in a research report on Wednesday. They issued a “hold” rating and a $39.00 price objective for the company. Finally, Wall Street Zen lowered Global Industrial from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Three analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Global Industrial has a consensus rating of “Hold” and a consensus price target of $39.00.

Global Industrial Stock Up 0.1%

The company has a market capitalization of $1.68 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 1.47 and a beta of 0.77. The company has a 50-day moving average of $40.73 and a two-hundred day moving average of $35.46.

Global Industrial (NYSE:GIC) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $386.60 million during the quarter, compared to analyst estimates of $377.40 million. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. As a group, equities analysts expect that Global Industrial Company will post 1.87 EPS for the current fiscal year.

Global Industrial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 17th. Global Industrial’s dividend payout ratio is presently 50.00%.

Insider Activity

In other Global Industrial news, SVP Claudia Hughes sold 4,753 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $39.78, for a total value of $189,074.34. Following the transaction, the senior vice president directly owned 32,167 shares of the company’s stock, valued at approximately $1,279,603.26. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Thomas Axmacher sold 1,848 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $38.60, for a total transaction of $71,332.80. Following the sale, the vice president owned 7,366 shares of the company’s stock, valued at $284,327.60. This trade represents a 20.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,287 shares of company stock worth $363,904 in the last 90 days. Company insiders own 64.51% of the company’s stock.

Institutional Investors Weigh In On Global Industrial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Global Industrial during the second quarter valued at approximately $53,365,000. Bank of New York Mellon Corp bought a new position in shares of Global Industrial during the second quarter worth $10,510,000. Bank of America Corp DE purchased a new position in Global Industrial during the second quarter valued at $3,367,000. Edgestream Partners L.P. purchased a new position in Global Industrial during the first quarter valued at $2,920,000. Finally, Hsbc Holdings PLC purchased a new position in Global Industrial during the second quarter valued at $2,757,000. Institutional investors own 31.19% of the company’s stock.

Global Industrial Company Profile

Global Industrial Company (NYSE:GIC) is a distributor of industrial and maintenance, repair and operations (MRO) products. The company serves businesses, government agencies and other organizations through digital commerce, direct sales and product catalogs.

Its product range includes material-handling and storage equipment, shelving, cabinets, workstations, safety supplies, janitorial and facility-maintenance products, packaging supplies, tools, HVAC equipment and office furnishings. Global Industrial offers products from its own brands as well as third-party manufacturers, with solutions designed for workplaces, warehouses, commercial facilities and industrial operations.

The company primarily serves customers in the United States and Canada.