Global Industrial (NYSE:GIC) SVP Manoj Shetty Sells 2,000 Shares of Company Stock

Global Industrial Company (NYSE:GIC) SVP Manoj Shetty sold 2,000 shares of the company’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $46.30, for a total transaction of $92,600.00. Following the transaction, the senior vice president owned 33,757 shares in the company, valued at approximately $1,562,949.10. The trade was 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 Stock Down 0.4%

Shares of Global Industrial stock opened at $46.94 on Friday. The company has a market cap of $1.79 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. Global Industrial Company has a 52 week low of $26.40 and a 52 week high of $51.63. The business has a 50 day moving average price of $43.03 and a 200-day moving average price of $35.64.

Global Industrial Announces Dividend

The firm 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 (DPR) is currently 46.67%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Global Industrial

Hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC raised its stake in shares of Global Industrial by 143.3% during the third quarter. Signaturefd LLC now owns 1,428 shares of the company’s stock worth $60,000 after acquiring an additional 841 shares in the last quarter. State of Wyoming boosted its holdings in shares of Global Industrial by 17.2% during the third 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. Bard Associates Inc. purchased a new stake in shares of Global Industrial during the second quarter worth about $67,000. Quantinno Capital Management LP boosted its holdings in shares of Global Industrial by 9.4% during the first quarter. Quantinno Capital Management LP now owns 43,329 shares of the company’s stock worth $1,366,000 after purchasing an additional 3,730 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of Global Industrial by 166.4% in the third quarter. Nisa Investment Advisors LLC now owns 6,639 shares of the company’s stock worth $278,000 after purchasing an additional 4,147 shares during the last quarter. 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.