Global Industrial (NYSE:GIC) SVP Claudia Hughes Sells 1,734 Shares

Global Industrial Company (NYSE:GIC) SVP Claudia Hughes sold 1,734 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $38.22, for a total transaction of $66,273.48. Following the sale, the senior vice president owned 36,920 shares in the company, valued at $1,411,082.40. This represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Claudia Hughes also recently made the following trade(s):

• On Friday, August 28th, Claudia Hughes sold 4,753 shares of Global Industrial stock. The shares were sold at an average price of $39.78, for a total transaction of $189,074.34.

Global Industrial Stock Performance

Global Industrial stock opened at $39.05 on Tuesday. The company has a 50 day moving average price of $36.17 and a 200 day moving average price of $33.17. Global Industrial Company has a 52 week low of $26.40 and a 52 week high of $40.71. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 1.32 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 the consensus estimate of $0.54. The company had revenue of $386.60 million for 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%. Equities analysts forecast that Global Industrial Company will post 1.87 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were issued a dividend of $0.28 per share. The ex-dividend date was Monday, August 17th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.9%. Global Industrial’s payout ratio is currently 50.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GIC. Wall Street Zen upgraded Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Global Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 18th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Global Industrial

Several institutional investors and hedge funds have recently modified their holdings of GIC. New York State Teachers Retirement System acquired a new position in shares of Global Industrial in the fourth quarter worth $38,000. Bard Associates Inc. purchased a new position in Global Industrial in the second quarter valued at about $67,000. Advisors Asset Management Inc. increased its position in Global Industrial by 234.9% in the 4th quarter. Advisors Asset Management Inc. now owns 2,502 shares of the company’s stock worth $73,000 after purchasing an additional 1,755 shares during the last quarter. State of Wyoming purchased a new stake in shares of Global Industrial during the 2nd quarter worth about $117,000. Finally, Empowered Funds LLC acquired a new stake in shares of Global Industrial during the 2nd quarter valued at about $211,000. 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.