Insider Selling: Global Industrial (NYSE:GIC) VP Sells $61,495.20 in Stock

Global Industrial Company (NYSE:GIC) VP Thomas Axmacher sold 1,314 shares of the firm’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $46.80, for a total transaction of $61,495.20. Following the completion of the transaction, the vice president owned 3,939 shares of the company’s stock, valued at approximately $184,345.20. The trade was a 25.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, November 9th, Thomas Axmacher sold 648 shares of Global Industrial stock. The shares were sold at an average price of $47.40, for a total transaction of $30,715.20.
• On Thursday, November 5th, Thomas Axmacher sold 3,759 shares of Global Industrial stock. The shares were sold at an average price of $46.78, for a total transaction of $175,846.02.
• On Thursday, August 13th, Thomas Axmacher sold 952 shares of Global Industrial stock. The shares were sold at an average price of $39.10, for a total transaction of $37,223.20.

Global Industrial Price Performance

Global Industrial stock traded down $0.06 during midday trading on Monday, reaching $46.34. The stock had a trading volume of 172,341 shares, compared to its average volume of 119,132. The firm’s fifty day simple moving average is $42.40 and its two-hundred day simple moving average is $35.32. Global Industrial Company has a twelve month low of $26.40 and a twelve month high of $51.63. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 1.50 and a beta of 0.75.

Global Industrial Dividend Announcement

The company also recently announced a special dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 16th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, November 16th. Global Industrial’s payout ratio is 46.67%.

Institutional Trading of Global Industrial

A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its position in Global Industrial by 92.9% during the third quarter. Russell Investments Group Ltd. now owns 28,202 shares of the company’s stock valued at $1,184,000 after purchasing an additional 13,581 shares in the last quarter. State of Wyoming increased its stake in Global Industrial by 17.2% in the 3rd quarter. State of Wyoming now owns 7,679 shares of the company’s stock valued at $322,000 after buying an additional 1,125 shares during the period. Signaturefd LLC increased its stake in Global Industrial by 143.3% in the 3rd quarter. Signaturefd LLC now owns 1,428 shares of the company’s stock valued at $60,000 after buying an additional 841 shares during the period. Nisa Investment Advisors LLC lifted its position in Global Industrial by 166.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,639 shares of the company’s stock worth $278,000 after buying an additional 4,147 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in Global Industrial in the 2nd quarter worth approximately $604,000. 31.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GIC. Freedom Broker began coverage on Global Industrial in a research report on Wednesday, October 14th. They issued a “hold” rating and a $39.00 target price for the company. Weiss Ratings lowered Global Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. Finally, Wall Street Zen raised Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 2nd. Three research analysts have rated the stock with a Hold rating. According to MarketBeat, Global Industrial has an average rating of “Hold” and an average price target of $39.00.

About Global Industrial

Global Industrial Company (NYSE:GIC) is a distributor of industrial, commercial and business products serving organizations across North America. The company sells products through its e-commerce platforms, catalogs and sales representatives, serving businesses, government agencies, educational institutions and other commercial customers.

Its product offerings include material-handling and storage equipment, shelving, cabinets, workbenches, safety supplies, janitorial and sanitation products, packaging materials, tools, lighting, HVAC equipment, office furniture and other facility-maintenance products.