Global Industrial (NYSE:GIC) VP Sells $37,223.20 in Stock

Global Industrial Company (NYSE:GIC) VP Thomas Axmacher sold 952 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $39.10, for a total transaction of $37,223.20. Following the transaction, the vice president owned 6,414 shares in the company, valued at approximately $250,787.40. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Thomas Axmacher also recently made the following trade(s):

• On Thursday, August 6th, Thomas Axmacher sold 1,848 shares of Global Industrial stock. The shares were sold at an average price of $38.60, for a total transaction of $71,332.80.

Global Industrial Stock Performance

Shares of GIC stock opened at $39.01 on Monday. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 1.30 and a beta of 0.75. Global Industrial Company has a one year low of $26.40 and a one year high of $40.71. The company has a 50 day moving average price of $34.58 and a 200 day moving average price of $32.58.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. The company had revenue of $386.60 million for the quarter, compared to analyst estimates of $377.40 million. As a group, equities analysts forecast that Global Industrial Company will post 1.87 EPS for the current fiscal year.

Global Industrial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, August 17th. Global Industrial’s dividend payout ratio (DPR) is 50.00%.

Institutional Investors Weigh In On Global Industrial

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Global Industrial in the 2nd quarter valued at $53,365,000. Dimensional Fund Advisors LP boosted its position in Global Industrial by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 893,325 shares of the company’s stock worth $28,155,000 after purchasing an additional 8,901 shares during the period. Vanguard Group Inc. increased its holdings in Global Industrial by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 822,006 shares of the company’s stock valued at $30,143,000 after purchasing an additional 17,194 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Global Industrial in the second quarter valued at about $10,510,000. Finally, J. Goldman & Co LP raised its position in Global Industrial by 9.4% in the fourth quarter. J. Goldman & Co LP now owns 307,757 shares of the company’s stock valued at $8,993,000 after purchasing an additional 26,365 shares during the period. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GIC has been the subject of a number of research reports. Weiss Ratings raised Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded Global Industrial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Global Industrial presently has an average rating of “Hold”.

About Global Industrial

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.