Insider Selling: Global Industrial (NYSE:GIC) VP Sells 1,848 Shares

Global Industrial Company (NYSE:GIC) VP Thomas Axmacher sold 1,848 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $38.60, for a total transaction of $71,332.80. Following the completion of the sale, the vice president directly owned 7,366 shares of the company’s stock, valued at $284,327.60. This represents a 20.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Global Industrial Stock Up 2.0%

Shares of GIC traded up $0.80 during mid-day trading on Monday, hitting $39.93. 178,979 shares of the company’s stock were exchanged, compared to its average volume of 107,951. Global Industrial Company has a 52 week low of $26.40 and a 52 week high of $40.26. The stock’s 50-day simple moving average is $33.70 and its 200-day simple moving average is $32.28. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 1.30 and a beta of 0.75.

Global Industrial (NYSE:GIC) last released 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. The company had revenue of $386.60 million during the quarter, compared to the consensus estimate of $377.40 million. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. Analysts forecast that Global Industrial Company will post 1.88 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.12 annualized dividend and a yield of 2.8%. Global Industrial’s payout ratio is currently 50.00%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wall Street Zen raised Global Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings raised Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Institutional Trading of Global Industrial

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Global Industrial during the second quarter worth $53,365,000. Deutsche Bank AG bought a new position in shares of Global Industrial in the 2nd quarter valued at $587,000. Bank of New York Mellon Corp acquired a new stake in shares of Global Industrial during the 2nd quarter valued at $10,510,000. State of Wyoming acquired a new stake in shares of Global Industrial during the 2nd quarter valued at $219,000. Finally, GSA Capital Partners LLP bought a new stake in Global Industrial during the 2nd quarter worth $899,000. Institutional investors and hedge funds own 31.19% of the company’s stock.

Global Industrial Company Profile

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.