Insider Selling: Global Industrial (NYSE:GIC) VP Sells $71,332.80 in Stock

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

Global Industrial Stock Down 1.2%

Shares of NYSE:GIC opened at $38.88 on Thursday. The company has a market capitalization of $1.48 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.32 and a beta of 0.75. Global Industrial Company has a 52-week low of $26.40 and a 52-week high of $40.71. The stock’s fifty day simple moving average is $34.24 and its 200-day simple moving average is $32.46.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The firm had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $377.40 million. Global Industrial had a return on equity of 21.49% and a net margin of 6.06%. On average, sell-side analysts anticipate that Global Industrial Company will post 1.87 earnings per share for the current year.

Global Industrial Announces Dividend

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Global Industrial

Several large investors have recently added to or reduced their stakes in GIC. New York State Teachers Retirement System acquired a new stake in shares of Global Industrial in the 4th quarter worth about $38,000. Bard Associates Inc. acquired a new stake in Global Industrial in the second quarter worth approximately $67,000. Advisors Asset Management Inc. boosted its stake in Global Industrial by 234.9% during the fourth quarter. Advisors Asset Management Inc. now owns 2,502 shares of the company’s stock valued at $73,000 after buying an additional 1,755 shares in the last quarter. State of Wyoming acquired a new position in shares of Global Industrial in the 2nd quarter worth approximately $117,000. Finally, State of Alaska Department of Revenue grew its position in Global Industrial by 111.4% in the fourth quarter. State of Alaska Department of Revenue now owns 4,562 shares of the company’s stock worth $133,000 after buying an additional 2,404 shares during the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

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.