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

Global Industrial (NYSE:GIC) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 355,000 shares, a growth of 27.2% from the October 15th total of 279,100 shares. Currently, 4.6% of the shares of the company are sold short. Based on an average daily volume of 73,200 shares, the days-to-cover ratio is currently 4.8 days.

Global Industrial Stock Down 2.6 %

Shares of GIC stock opened at $27.14 on Friday. Global Industrial has a 12 month low of $25.00 and a 12 month high of $46.97. The company has a market cap of $1.04 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.05 and a beta of 0.86. The business’s 50 day moving average is $31.75 and its two-hundred day moving average is $32.74.

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

Global Industrial Dividend Announcement

The firm also recently disclosed 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 dividend yield of 3.68%. Global Industrial’s dividend payout ratio is presently 58.82%.

Institutional Trading of Global Industrial

Several hedge funds have recently added to or reduced their stakes in GIC. Geode Capital Management LLC lifted its holdings in shares of Global Industrial by 3.5% during the third quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock worth $10,740,000 after buying an additional 10,601 shares during the last quarter. Barclays PLC increased its position in Global Industrial by 221.5% during the third quarter. Barclays PLC now owns 30,622 shares of the company’s stock worth $1,041,000 after acquiring an additional 21,097 shares during the period. State Street Corp raised its stake in Global Industrial by 2.6% during the 3rd quarter. State Street Corp now owns 315,779 shares of the company’s stock valued at $10,727,000 after purchasing an additional 8,136 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Global Industrial by 101.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 177,884 shares of the company’s stock valued at $6,043,000 after purchasing an additional 89,780 shares during the period. Finally, FMR LLC grew its position in Global Industrial by 14.7% in the 3rd quarter. FMR LLC now owns 2,534,156 shares of the company’s stock worth $86,085,000 after purchasing an additional 325,555 shares during the last quarter. Institutional investors own 31.19% of the company’s stock.

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.