Claudia Hughes Sells 4,753 Shares of Global Industrial (NYSE:GIC) Stock

Key Points

• Global Industrial SVP Claudia Hughes sold 4,753 shares for approximately $189,074, reducing her direct holdings by 12.87% to 32,167 shares. She also sold 1,734 shares the previous day.
• GIC shares fell 1.4% to $39.05, despite the company meeting quarterly EPS estimates at $0.54 and exceeding revenue expectations with $386.6 million. The company pays a quarterly dividend of $0.28, representing a 2.9% annualized yield.
• Analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating after recent upgrades; institutional investors own 31.19% of the company.

Global Industrial Company (NYSE:GIC - Get Free Report) SVP Claudia Hughes sold 4,753 shares of the business's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $39.78, for a total value of $189,074.34. Following the completion of the transaction, the senior vice president directly owned 32,167 shares in the company, valued at approximately $1,279,603.26. This represents a 12.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Claudia Hughes also recently made the following trade(s):

• On Thursday, August 27th, Claudia Hughes sold 1,734 shares of Global Industrial stock. The stock was sold at an average price of $38.22, for a total transaction of $66,273.48.

Global Industrial Trading Down 1.4%

Shares of GIC traded down $0.55 during mid-day trading on Monday, hitting $39.05. 145,396 shares of the company traded hands, compared to its average volume of 139,627. The business has a 50-day moving average of $36.17 and a 200 day moving average of $33.17. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.32 and a beta of 0.75. Global Industrial Company has a one year low of $26.40 and a one year high of $40.71.

Global Industrial (NYSE:GIC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.54 EPS for the quarter, hitting analysts' consensus estimates of $0.54. The firm 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%. As a group, 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 declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, August 17th. Global Industrial's dividend payout ratio (DPR) is currently 50.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Los Angeles Capital Management LLC increased its stake in Global Industrial by 0.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 61,392 shares of the company's stock valued at $1,732,000 after buying an additional 323 shares during the last quarter. Swiss National Bank increased its position in shares of Global Industrial by 1.9% during the 4th quarter. Swiss National Bank now owns 37,800 shares of the company's stock worth $1,105,000 after purchasing an additional 700 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Global Industrial by 4.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,146 shares of the company's stock valued at $706,000 after acquiring an additional 1,038 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Global Industrial by 16.3% during the second quarter. Russell Investments Group Ltd. now owns 7,972 shares of the company's stock worth $215,000 after purchasing an additional 1,120 shares during the period. Finally, Bank of America Corp DE raised its stake in Global Industrial by 2.3% in the second quarter. Bank of America Corp DE now owns 51,366 shares of the company's stock valued at $1,387,000 after buying an additional 1,137 shares during the period. 31.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GIC. Weiss Ratings raised shares of Global Industrial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 18th. Wall Street Zen raised shares of Global Industrial from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source