Global Industrial (NYSE:GIC) VP Thomas Axmacher Sells 3,759 Shares of Company Stock

Global Industrial Company (NYSE:GIC) VP Thomas Axmacher sold 3,759 shares of the firm’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $46.78, for a total transaction of $175,846.02. Following the completion of the transaction, the vice president directly owned 5,253 shares in the company, valued at approximately $245,735.34. This represents a 41.71% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $47.40, for a total transaction of $30,715.20.
• On Friday, November 6th, Thomas Axmacher sold 1,314 shares of Global Industrial stock. The stock was sold at an average price of $46.80, for a total value of $61,495.20.
• On Thursday, August 13th, Thomas Axmacher sold 952 shares of Global Industrial stock. The stock was sold at an average price of $39.10, for a total value of $37,223.20.

Global Industrial Price Performance

Shares of NYSE GIC opened at $46.34 on Tuesday. Global Industrial Company has a 1-year low of $26.40 and a 1-year high of $51.63. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 1.59 and a beta of 0.75. The business has a 50-day moving average of $42.54 and a 200-day moving average of $35.39.

Global Industrial Dividend Announcement

The business also recently declared a special dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 16th will be given 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%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GIC. Weiss Ratings cut shares of Global Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. Freedom Broker assumed coverage on Global Industrial in a research report on Wednesday, October 14th. They set a “hold” rating and a $39.00 target price on the stock. Finally, Wall Street Zen cut Global Industrial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $39.00.

More Global Industrial News

Here are the key news stories impacting Global Industrial this week:

• Neutral Sentiment: A financial review compared Global Industrial with Watsco, but the headline provided no specific conclusion or new company development. Financial Review: Watsco versus Global Industrial
• Negative Sentiment: Wall Street Zen lowered its rating on GIC. The article details provided do not specify the prior or new rating, but a downgrade can weigh on investor sentiment. Global Industrial Stock Rating Lowered by Wall Street Zen
• Negative Sentiment: VP Thomas Axmacher sold 5,721 shares over three transactions on Nov. 5, 6 and 9, for about $268,056 in total. The sales reduced his reported holdings to 3,291 shares; insider selling may add to market caution, though it does not by itself establish a change in the company’s outlook. SEC filing on insider transactions

Hedge Funds Weigh In On Global Industrial

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Global Industrial in the 2nd quarter valued at approximately $53,365,000. Dimensional Fund Advisors LP grew its stake in shares of Global Industrial by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 893,325 shares of the company’s stock worth $28,155,000 after purchasing an additional 8,901 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Global Industrial during the second quarter valued at $10,510,000. Hillsdale Investment Management Inc. boosted its holdings in shares of Global Industrial by 4.5% in the first quarter. Hillsdale Investment Management Inc. now owns 199,091 shares of the company’s stock worth $6,275,000 after buying an additional 8,600 shares during the period. Finally, Algert Global LLC grew its position in Global Industrial by 4.8% during the 2nd quarter. Algert Global LLC now owns 141,594 shares of the company’s stock worth $4,738,000 after purchasing an additional 6,530 shares in the last quarter. Institutional investors and hedge funds own 31.19% of the company’s stock.

About Global Industrial

Global Industrial Company is a distributor of industrial and commercial products, serving businesses, government organizations and other institutions. The company sells through its e-commerce platform and sales teams, with operations focused on the United States and Canada.

Its broad product range includes material-handling and storage equipment, tools, safety supplies, furniture, janitorial products, packaging materials and maintenance, repair and operations supplies. Products are offered under the Global Industrial brand as well as through third-party manufacturers.

The business traces its history to 1949 and was previously known as Systemax Inc before adopting the Global Industrial Company name in 2021.