Global Industrial (NYSE:GIC) Short Interest Up 27.2% in October

Global Industrial (NYSE:GIC) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 355,000 shares, an increase of 27.2% from the October 15th total of 279,100 shares. Currently, 4.6% of the shares of the stock are sold short. Based on an average daily volume of 73,200 shares, the short-interest ratio is presently 4.8 days.

Institutional Trading of Global Industrial

Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its position in Global Industrial by 2.1% in the second quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock worth $619,000 after buying an additional 397 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Global Industrial by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 120,803 shares of the company’s stock worth $4,104,000 after purchasing an additional 456 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Global Industrial by 3.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company’s stock valued at $576,000 after buying an additional 459 shares during the period. The Manufacturers Life Insurance Company lifted its position in Global Industrial by 9.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,808 shares of the company’s stock valued at $299,000 after acquiring an additional 786 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Global Industrial by 12.9% during the second quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock valued at $252,000 after purchasing an additional 919 shares in the last quarter. Institutional investors own 31.19% of the company’s stock.

Global Industrial Price Performance

Shares of GIC traded down $0.37 during trading hours on Friday, hitting $27.50. 23,390 shares of the stock were exchanged, compared to its average volume of 79,226. Global Industrial has a fifty-two week low of $25.00 and a fifty-two week high of $46.97. The business has a 50-day moving average of $31.83 and a 200-day moving average of $32.86. The firm has a market capitalization of $1.05 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 1.09 and a beta of 0.86.

Global Industrial (NYSE:GIC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.14). The business had revenue of $342.40 million during the quarter, compared to analyst estimates of $353.44 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. During the same period in the previous year, the business posted $0.54 EPS. As a group, analysts forecast that Global Industrial will post 1.62 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Monday, November 11th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 3.64%. Global Industrial’s payout ratio is currently 58.82%.

About Global Industrial

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.