Global Industrial (NYSE:GIC) VP Sells $61,495.20 in Stock

Global Industrial Company (NYSE:GIC) VP Thomas Axmacher sold 1,314 shares of Global Industrial stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $46.80, for a total value of $61,495.20. Following the sale, the vice president owned 3,939 shares in the company, valued at $184,345.20. This represents a 25.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 stock was sold at an average price of $47.40, for a total value of $30,715.20.
• 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 value of $175,846.02.
• 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 value of $37,223.20.

Global Industrial Trading Down 0.4%

Shares of GIC stock opened at $47.12 on Thursday. Global Industrial Company has a 12 month low of $26.40 and a 12 month high of $51.63. The stock has a market cap 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. The company’s fifty day moving average price is $42.88 and its 200-day moving average price is $35.55.

Global Industrial Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Monday, November 23rd. Investors 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 46.67%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Global Industrial

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

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.