Insider Selling: Global Industrial (NYSE:GIC) SVP Sells $92,600.00 in Stock

Global Industrial Company (NYSE:GIC) SVP Manoj Shetty sold 2,000 shares of the business’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $46.30, for a total value of $92,600.00. Following the completion of the transaction, the senior vice president directly owned 33,757 shares in the company, valued at approximately $1,562,949.10. This represents a 5.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Global Industrial Trading Down 0.8%

Shares of NYSE:GIC traded down $0.39 during midday trading on Friday, reaching $46.65. The company had a trading volume of 115,069 shares, compared to its average volume of 165,228. The stock has a market cap of $1.78 billion, a P/E ratio of 19.44, a P/E/G ratio of 1.52 and a beta of 0.75. The company’s 50 day moving average price is $43.18 and its 200 day moving average price is $35.72. Global Industrial Company has a 52-week low of $26.40 and a 52-week high of $51.63.

Global Industrial Dividend Announcement

The business also recently announced a special dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 16th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, November 16th. Global Industrial’s dividend payout ratio is currently 46.67%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Freedom Broker started coverage on Global Industrial in a research report on Wednesday, October 14th. They set a “hold” rating and a $39.00 price target on the stock. Weiss Ratings downgraded shares of Global Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 25th. Finally, Wall Street Zen downgraded shares of Global Industrial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 10th. Three research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.00.

Institutional Investors Weigh In On Global Industrial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Global Industrial in the second quarter worth $53,365,000. Advisors Asset Management Inc. bought a new stake in Global Industrial during the third quarter valued at $15,778,000. Bank of New York Mellon Corp purchased a new position in Global Industrial during the second quarter worth about $10,510,000. Edgestream Partners L.P. purchased a new position in Global Industrial during the third quarter worth about $5,503,000. Finally, Bank of America Corp DE bought a new position in Global Industrial in the 2nd quarter worth about $3,367,000. 31.19% of the stock is currently owned by institutional investors.

Global Industrial Company Profile

Global Industrial Company is a distributor of industrial and commercial products, serving businesses, government organizations and other institutions. The company sells through its e-commerce platform and sales teams, with operations focused on the United States and Canada. Its broad product range includes material-handling and storage equipment, tools, safety supplies, furniture, janitorial products, packaging materials and maintenance, repair and operations supplies. Products are offered under the Global Industrial brand as well as through third-party manufacturers.