Global Industrial (NYSE:GIC) Sees Significant Increase in Short Interest

Global Industrial (NYSE:GIC) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 246,300 shares, a growth of 25.5% from the May 31st total of 196,300 shares. Based on an average daily volume of 74,000 shares, the days-to-cover ratio is currently 3.3 days. Approximately 3.1% of the shares of the stock are sold short.

Global Industrial Stock Up 1.2 %

GIC stock traded up $0.36 during trading on Friday, reaching $31.36. The company’s stock had a trading volume of 298,539 shares, compared to its average volume of 59,919. The company’s fifty day moving average is $34.67 and its 200-day moving average is $39.51. The company has a market capitalization of $1.20 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 1.02 and a beta of 0.87. Global Industrial has a 1 year low of $26.36 and a 1 year high of $46.97.

Global Industrial (NYSE:GIC) last issued its earnings results on Tuesday, April 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.04). Global Industrial had a net margin of 5.34% and a return on equity of 28.39%. The business had revenue of $323.40 million for the quarter, compared to the consensus estimate of $322.27 million. Analysts anticipate that Global Industrial will post 1.93 earnings per share for the current year.

Global Industrial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 3.19%. Global Industrial’s payout ratio is 54.35%.

Institutional Trading of Global Industrial

Hedge funds have recently bought and sold shares of the stock. Mawer Investment Management Ltd. increased its holdings in shares of Global Industrial by 3.2% in the first quarter. Mawer Investment Management Ltd. now owns 2,002,426 shares of the company’s stock worth $89,669,000 after purchasing an additional 62,777 shares during the last quarter. Vanguard Group Inc. grew its holdings in Global Industrial by 137.3% during the 1st quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock valued at $32,118,000 after buying an additional 414,924 shares in the last quarter. FMR LLC increased its stake in Global Industrial by 520.0% in the 3rd quarter. FMR LLC now owns 409,721 shares of the company’s stock worth $13,726,000 after acquiring an additional 343,633 shares during the last quarter. Isthmus Partners LLC raised its holdings in shares of Global Industrial by 38.4% during the 1st quarter. Isthmus Partners LLC now owns 96,047 shares of the company’s stock worth $4,301,000 after acquiring an additional 26,655 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Global Industrial during the 1st quarter valued at approximately $3,824,000. Hedge funds and other institutional investors own 31.19% of the company’s stock.

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.