Global Industrial (NYSE:GIC) VP Thomas Axmacher Sells 952 Shares

Global Industrial Company (NYSE:GIC) VP Thomas Axmacher sold 952 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $39.10, for a total value of $37,223.20. Following the completion of the sale, the vice president owned 6,414 shares of the company’s stock, valued at approximately $250,787.40. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, August 6th, Thomas Axmacher sold 1,848 shares of Global Industrial stock. The stock was sold at an average price of $38.60, for a total value of $71,332.80.

Global Industrial Stock Performance

Global Industrial stock opened at $39.01 on Friday. The firm has a 50 day moving average price of $34.58 and a 200 day moving average price of $32.56. Global Industrial Company has a fifty-two week low of $26.40 and a fifty-two week high of $40.71. The company has a market capitalization of $1.49 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.31 and a beta of 0.75.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. Global Industrial had a return on equity of 21.49% and a net margin of 6.06%.The business had revenue of $386.60 million for the quarter, compared to analyst estimates of $377.40 million. As a group, equities research analysts forecast that Global Industrial Company will post 1.87 earnings per share for the current year.

Global Industrial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, August 17th. Global Industrial’s dividend payout ratio (DPR) is currently 50.00%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GIC. Weiss Ratings upgraded Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Wall Street Zen raised shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GIC. AQR Capital Management LLC raised its stake in shares of Global Industrial by 37.4% during the first quarter. AQR Capital Management LLC now owns 61,993 shares of the company’s stock worth $1,389,000 after purchasing an additional 16,880 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Global Industrial by 66.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 143,162 shares of the company’s stock valued at $3,207,000 after buying an additional 57,056 shares during the last quarter. Jane Street Group LLC increased its stake in Global Industrial by 16.4% in the 1st quarter. Jane Street Group LLC now owns 17,806 shares of the company’s stock valued at $399,000 after buying an additional 2,512 shares during the period. Franklin Resources Inc. acquired a new position in Global Industrial in the 2nd quarter valued at $231,000. Finally, American Century Companies Inc. raised its position in Global Industrial by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 38,952 shares of the company’s stock worth $1,052,000 after buying an additional 2,804 shares during the last quarter. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

About Global Industrial

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.