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

Global Industrial Company (NYSE:GIC) VP Thomas Axmacher sold 952 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $39.10, for a total transaction of $37,223.20. Following the completion of the sale, the vice president owned 6,414 shares in the company, valued at $250,787.40. This represents a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 value of $71,332.80.

Global Industrial Stock Performance

Shares of NYSE:GIC traded down $0.07 during midday trading on Friday, reaching $39.01. 77,723 shares of the company’s stock were exchanged, compared to its average volume of 108,552. The firm has a market capitalization of $1.49 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.30 and a beta of 0.75. Global Industrial Company has a 12 month low of $26.40 and a 12 month high of $40.71. The company’s 50 day simple moving average is $34.41 and its two-hundred day simple moving average is $32.52.

Global Industrial (NYSE:GIC) last issued 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 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%. On average, research analysts anticipate that Global Industrial Company will post 1.87 earnings per share for the current year.

Global Industrial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be given a dividend of $0.28 per share. The ex-dividend date is 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 presently 50.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GIC. Weiss Ratings raised Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Institutional Trading of Global Industrial

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Global Industrial in the second quarter valued at about $53,365,000. Bank of New York Mellon Corp bought a new position in shares of Global Industrial during the second quarter worth about $10,510,000. Algert Global LLC acquired a new stake in Global Industrial in the 3rd quarter valued at approximately $5,329,000. Edgestream Partners L.P. acquired a new stake in Global Industrial in the 1st quarter valued at approximately $2,920,000. Finally, Barclays PLC boosted its position in Global Industrial by 164.7% during the 3rd quarter. Barclays PLC now owns 101,921 shares of the company’s stock worth $3,737,000 after acquiring an additional 63,414 shares during the last quarter. Institutional investors and hedge funds own 31.19% of the company’s stock.

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.