Global Industrial (NYSE:GIC) Stock: Insider Thomas Axmacher Sells 1,314 Shares

Global Industrial Company (NYSE:GIC) VP Thomas Axmacher sold 1,314 shares of Global Industrial stock in a transaction that occurred on Friday, November 6th. The shares were 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 directly owned 3,939 shares in the company, valued at approximately $184,345.20. The trade was a 25.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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 stock was sold at an average price of $39.10, for a total transaction of $37,223.20.

Global Industrial Stock Up 2.4%

Shares of GIC stock opened at $47.39 on Wednesday. Global Industrial Company has a 12-month low of $26.40 and a 12-month high of $51.63. The firm has a fifty day moving average of $42.71 and a 200-day moving average of $35.47. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 1.50 and a beta of 0.75.

Global Industrial Dividend Announcement

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

Institutional Investors Weigh In On Global Industrial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ieq Capital LLC acquired a new position in shares of Global Industrial during the 3rd quarter worth about $396,000. Edgestream Partners L.P. acquired a new stake in shares of Global Industrial in the third quarter valued at about $5,503,000. Russell Investments Group Ltd. increased its position in shares of Global Industrial by 92.9% in the third quarter. Russell Investments Group Ltd. now owns 28,202 shares of the company’s stock valued at $1,184,000 after acquiring an additional 13,581 shares during the last quarter. State of Wyoming increased its position in shares of Global Industrial by 17.2% in the third quarter. State of Wyoming now owns 7,679 shares of the company’s stock valued at $322,000 after acquiring an additional 1,125 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Global Industrial by 143.3% in the third quarter. Signaturefd LLC now owns 1,428 shares of the company’s stock valued at $60,000 after acquiring an additional 841 shares during the last quarter. 31.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GIC has been the topic of several recent research reports. Wall Street Zen downgraded Global Industrial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Weiss Ratings cut Global Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. Finally, Freedom Broker initiated coverage on Global Industrial in a report on Wednesday, October 14th. They set a “hold” rating and a $39.00 price objective for the company. Three research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Global Industrial has an average rating of “Hold” and an average target price of $39.00.

More Global Industrial News

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

• Positive Sentiment: Global Industrial declared a $1.00-per-share special dividend, payable November 23 to shareholders of record November 16. The payout may attract income-focused investors and provide support for sentiment. Global Industrial company and dividend information
• Neutral Sentiment: Wall Street Zen lowered its rating from “strong buy” to “buy”—a less bullish view, but not a sell recommendation. The article provides no new price target. Wall Street Zen rating report
• Negative Sentiment: VP Thomas Axmacher sold 5,721 shares in transactions on November 5, 6 and 9, totaling about $268,056. His reported holdings fell to 3,291 shares. Insider sales can raise caution, although they do not by themselves indicate a change in the company’s prospects. SEC filing on insider transactions

Global Industrial Company Profile

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.