Global Industrial Company (GIC) To Go Ex-Dividend on August 17th

by · The Markets Daily

Global Industrial Company (NYSE:GIC – Get Free Report) declared a quarterly dividend on Tuesday, August 4th. Investors of record on Monday, August 17th will be given a dividend of 0.28 per share on Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, August 17th.

Global Industrial has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 9 consecutive years. Global Industrial has a payout ratio of 60.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Global Industrial to earn $2.20 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 50.9%.

Global Industrial Stock Performance

Shares of GIC stock opened at $39.01 on Friday. Global Industrial has a 52-week low of $26.40 and a 52-week high of $40.71. The stock has a market cap of $1.49 billion, a PE ratio of 17.41, a PEG ratio of 1.31 and a beta of 0.75. The firm’s 50 day moving average price is $34.58 and its two-hundred day moving average price is $32.56.

Global Industrial (NYSE:GIC – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. Global Industrial had a return on equity of 21.49% and a net margin of 6.06%.The firm had revenue of $386.60 million for the quarter, compared to the consensus estimate of $377.40 million. As a group, sell-side analysts predict that Global Industrial will post 1.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Thomas Axmacher sold 952 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $39.10, for a total value of $37,223.20. Following the completion of the sale, the vice president directly owned 6,414 shares in the company, valued at $250,787.40. This represents a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 64.51% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GIC. New York State Teachers Retirement System acquired a new position in Global Industrial during the fourth quarter worth $38,000. Bard Associates Inc. acquired a new stake in shares of Global Industrial during the 2nd quarter valued at approximately $67,000. Advisors Asset Management Inc. lifted its stake in Global Industrial by 234.9% in the fourth quarter. Advisors Asset Management Inc. now owns 2,502 shares of the company’s stock valued at $73,000 after buying an additional 1,755 shares during the last quarter. State of Wyoming acquired a new stake in Global Industrial in the second quarter worth about $117,000. Finally, State of Alaska Department of Revenue lifted its holdings in Global Industrial by 111.4% in the 4th quarter. State of Alaska Department of Revenue now owns 4,562 shares of the company’s stock valued at $133,000 after acquiring an additional 2,404 shares during the last quarter. 31.19% of the stock is owned by hedge funds and other institutional investors.

Global Industrial Company Profile

(Get Free Report)

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.

Recommended Stories