Global Industrial (NYSE:GIC) VP Thomas Axmacher Sells 1,848 Shares

Key Points

• Insider sale: VP Thomas Axmacher sold 1,848 Global Industrial shares for approximately $71,333 at $38.60 per share, reducing his direct holdings by 20.06% to 7,366 shares.
• Financial performance: Global Industrial matched quarterly earnings expectations at $0.54 per share while revenue of $386.6 million exceeded analyst estimates of $377.4 million. Shares recently traded near a 52-week high at $39.93.
• Dividend and outlook: The company declared a quarterly dividend of $0.28, equivalent to a 2.8% annualized yield. Analysts maintain an average “Hold” rating, although one research service upgraded the stock to “strong-buy.”

Global Industrial Company (NYSE:GIC - Get Free Report) VP Thomas Axmacher sold 1,848 shares of the firm's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $38.60, for a total transaction of $71,332.80. Following the completion of the transaction, the vice president directly owned 7,366 shares of the company's stock, valued at approximately $284,327.60. This trade represents a 20.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Global Industrial Price Performance

NYSE:GIC traded up $0.80 on Monday, hitting $39.93. 178,979 shares of the company's stock were exchanged, compared to its average volume of 107,951. The firm has a 50-day moving average price of $33.70 and a 200-day moving average price of $32.28. Global Industrial Company has a 52 week low of $26.40 and a 52 week high of $40.26. The company has a market cap of $1.52 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 1.30 and a beta of 0.75.

Global Industrial (NYSE:GIC - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $386.60 million during the quarter, compared to analysts' expectations 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 expect that Global Industrial Company will post 1.88 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be paid a $0.28 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.12 dividend on an annualized basis and a yield of 2.8%. Global Industrial's dividend payout ratio (DPR) is currently 50.00%.

Hedge Funds Weigh In On Global Industrial

A number of large investors have recently made changes to their positions in GIC. New York State Teachers Retirement System bought a new stake in Global Industrial in the 4th quarter valued at $38,000. Advisors Asset Management Inc. lifted its holdings in shares of Global Industrial by 234.9% during the fourth quarter. Advisors Asset Management Inc. now owns 2,502 shares of the company's stock worth $73,000 after buying an additional 1,755 shares in the last quarter. State of Wyoming acquired a new stake in shares of Global Industrial during the second quarter worth $117,000. State of Alaska Department of Revenue boosted its position 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 valued at $133,000 after acquiring an additional 2,404 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Global Industrial in the third quarter valued at about $234,000. Institutional investors own 31.19% of the company's stock.

Wall Street Analyst Weigh In

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

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.

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