Thomas Axmacher Sells 952 Shares of Global Industrial (NYSE:GIC) Stock

Global Industrial Company (NYSE:GIC) VP Thomas Axmacher sold 952 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $39.10, for a total transaction of $37,223.20. Following the sale, the vice president owned 6,414 shares in the company, valued at approximately $250,787.40. This trade represents a 12.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, August 6th, Thomas Axmacher sold 1,848 shares of Global Industrial stock. The stock was sold at an average price of $38.60, for a total transaction of $71,332.80.

Global Industrial Stock Down 0.2%

Shares of GIC stock opened at $39.01 on Friday. The business has a 50 day moving average of $34.58 and a two-hundred day moving average of $32.56. Global Industrial Company has a 52 week low of $26.40 and a 52 week high of $40.71. The company has a market cap of $1.49 billion, a P/E ratio of 17.41, a PEG ratio of 1.30 and a beta of 0.75.

Global Industrial (NYSE:GIC) last posted its earnings results on Tuesday, August 4th. The company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $386.60 million during the quarter, compared to analyst estimates of $377.40 million. Global Industrial had a return on equity of 21.49% and a net margin of 6.06%. Analysts expect that Global Industrial Company will post 1.87 EPS for the current fiscal year.

Global Industrial Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GIC shares. Wall Street Zen upgraded Global Industrial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded shares of Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Global Industrial

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

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.