Thomas Axmacher Sells 1,848 Shares of Global Industrial (NYSE:GIC) Stock

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 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 owned 7,366 shares in the company, valued at approximately $284,327.60. This trade represents a 20.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Global Industrial Stock Down 0.9%

Shares of NYSE GIC opened at $39.43 on Wednesday. Global Industrial Company has a fifty-two week low of $26.40 and a fifty-two week high of $40.71. The business has a 50 day moving average price of $34.07 and a two-hundred day moving average price of $32.40. The firm has a market cap of $1.50 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.33 and a beta of 0.75.

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

Global Industrial Announces Dividend

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 dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, August 17th. Global Industrial’s dividend payout ratio (DPR) is currently 50.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GIC. Los Angeles Capital Management LLC increased its holdings in shares of Global Industrial by 0.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 61,392 shares of the company’s stock valued at $1,732,000 after purchasing an additional 323 shares during the period. Swiss National Bank grew its position in Global Industrial by 1.9% in the 4th quarter. Swiss National Bank now owns 37,800 shares of the company’s stock valued at $1,105,000 after buying an additional 700 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Global Industrial by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,146 shares of the company’s stock valued at $706,000 after buying an additional 1,038 shares during the period. Russell Investments Group Ltd. raised its position in shares of Global Industrial by 16.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,972 shares of the company’s stock worth $215,000 after buying an additional 1,120 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Global Industrial by 2.3% in the second quarter. Bank of America Corp DE now owns 51,366 shares of the company’s stock valued at $1,387,000 after acquiring an additional 1,137 shares in the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on GIC shares. Weiss Ratings raised shares of Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded Global Industrial from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

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.