Global Industrial (NYSE:GIC) VP Sells $30,715.20 in Stock

Global Industrial Company (NYSE:GIC) VP Thomas Axmacher sold 648 shares of Global Industrial stock in a transaction on Monday, November 9th. The shares were sold at an average price of $47.40, for a total transaction of $30,715.20. Following the completion of the transaction, the vice president owned 3,291 shares in the company, valued at approximately $155,993.40. This represents a 16.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, November 6th, Thomas Axmacher sold 1,314 shares of Global Industrial stock. The shares were sold at an average price of $46.80, for a total transaction of $61,495.20.
• On Thursday, November 5th, Thomas Axmacher sold 3,759 shares of Global Industrial stock. The stock was sold at an average price of $46.78, for a total transaction of $175,846.02.
• On Thursday, August 13th, Thomas Axmacher sold 952 shares of Global Industrial stock. The stock was sold at an average price of $39.10, for a total value of $37,223.20.

Global Industrial Stock Down 0.1%

GIC stock traded down $0.06 during trading on Monday, hitting $46.34. The company had a trading volume of 172,341 shares, compared to its average volume of 119,132. The firm has a market cap of $1.77 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.50 and a beta of 0.75. Global Industrial Company has a 1-year low of $26.40 and a 1-year high of $51.63. The firm has a 50-day moving average price of $42.40 and a 200-day moving average price of $35.32.

Global Industrial Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Monday, November 23rd. Shareholders 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 presently 46.67%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in shares of Global Industrial by 92.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 28,202 shares of the company’s stock worth $1,184,000 after purchasing an additional 13,581 shares in the last quarter. State of Wyoming grew its stake in shares of Global Industrial by 17.2% during the 3rd quarter. State of Wyoming now owns 7,679 shares of the company’s stock worth $322,000 after purchasing an additional 1,125 shares during the period. Signaturefd LLC lifted its stake in shares of Global Industrial by 143.3% in the third quarter. Signaturefd LLC now owns 1,428 shares of the company’s stock valued at $60,000 after purchasing an additional 841 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Global Industrial by 166.4% during the third quarter. Nisa Investment Advisors LLC now owns 6,639 shares of the company’s stock worth $278,000 after buying an additional 4,147 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in Global Industrial during the second quarter worth about $604,000. 31.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GIC has been the topic of a number of recent research reports. Freedom Broker began coverage on Global Industrial in a report on Wednesday, October 14th. They issued a “hold” rating and a $39.00 target price on the stock. Weiss Ratings downgraded Global Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 25th. Finally, Wall Street Zen raised Global Industrial from a “buy” rating to a “strong-buy” rating in a report on Monday, November 2nd. Three research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.00.

Global Industrial Company Profile

Global Industrial Company (NYSE:GIC) is a distributor of industrial, commercial and business products serving organizations across North America. The company sells products through its e-commerce platforms, catalogs and sales representatives, serving businesses, government agencies, educational institutions and other commercial customers.

Its product offerings include material-handling and storage equipment, shelving, cabinets, workbenches, safety supplies, janitorial and sanitation products, packaging materials, tools, lighting, HVAC equipment, office furniture and other facility-maintenance products.