Global Industrial (NYSE:GIC) VP Sells $175,846.02 in Stock

Global Industrial Company (NYSE:GIC) VP Thomas Axmacher sold 3,759 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $46.78, for a total transaction of $175,846.02. Following the sale, the vice president directly owned 5,253 shares in the company, valued at approximately $245,735.34. This represents a 41.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, November 9th, Thomas Axmacher sold 648 shares of Global Industrial stock. The shares were sold at an average price of $47.40, for a total value of $30,715.20.
• On Friday, November 6th, Thomas Axmacher sold 1,314 shares of Global Industrial stock. The stock was sold at an average price of $46.80, for a total value of $61,495.20.
• On Thursday, August 13th, Thomas Axmacher sold 952 shares of Global Industrial stock. The shares were sold at an average price of $39.10, for a total transaction of $37,223.20.

Global Industrial Trading Down 0.4%

Shares of NYSE GIC opened at $47.12 on Thursday. Global Industrial Company has a 1 year low of $26.40 and a 1 year high of $51.63. The firm’s 50-day moving average is $42.88 and its 200-day moving average is $35.55. The firm has a market capitalization of $1.80 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75.

Global Industrial Dividend Announcement

The company also recently declared 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 (DPR) is currently 46.67%.

Hedge Funds Weigh In On Global Industrial

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

Analyst Ratings Changes

Several research analysts have recently weighed in on GIC shares. Wall Street Zen cut shares of Global Industrial from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Freedom Broker began coverage on shares of Global Industrial in a report on Wednesday, October 14th. They set a “hold” rating and a $39.00 price objective on the stock. Finally, Weiss Ratings cut shares of Global Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. Three equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $39.00.

About Global Industrial

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.