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

Global Industrial (NYSE:GIC) saw a large 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 stock are sold short. Based on an average trading volume of 73,200 shares, the short-interest ratio is presently 4.8 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GIC. FMR LLC boosted its stake in shares of Global Industrial by 14.7% in the 3rd quarter. FMR LLC now owns 2,534,156 shares of the company’s stock valued at $86,085,000 after purchasing an additional 325,555 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Global Industrial by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,022,574 shares of the company’s stock valued at $32,067,000 after buying an additional 6,602 shares in the last quarter. Vanguard Group Inc. grew its stake in Global Industrial by 137.3% during the first quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock worth $32,118,000 after buying an additional 414,924 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Global Industrial by 2.7% during the second quarter. Renaissance Technologies LLC now owns 345,174 shares of the company’s stock worth $10,825,000 after buying an additional 9,200 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Global Industrial by 3.5% in the third quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock valued at $10,740,000 after acquiring an additional 10,601 shares during the last quarter. 31.19% of the stock is currently owned by institutional investors and hedge funds.

Global Industrial Stock Performance

Shares of Global Industrial stock opened at $27.14 on Friday. The firm has a market cap of $1.04 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 1.05 and a beta of 0.86. The firm’s 50-day simple moving average is $31.75 and its 200-day simple moving average is $32.74. Global Industrial has a twelve month low of $25.00 and a twelve month high of $46.97.

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

Global Industrial Announces Dividend

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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.68%. The ex-dividend date is Friday, November 8th. Global Industrial’s dividend payout ratio is 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.