Global Industrial (NYSE:GIC) SVP Claudia Hughes Sells 1,734 Shares of Stock

Key Points

• Insider selling: SVP Claudia Hughes sold 1,734 Global Industrial shares for $66,273.48, reducing her holdings by 4.49% to 36,920 shares. She also sold an additional 4,753 shares the following day for $189,074.34.
• Financial performance: Global Industrial recently reported quarterly earnings of $0.54 per share, in line with estimates, while revenue of $386.6 million exceeded expectations. The stock traded near its 12-month high at $39.05.
• Shareholder returns and outlook: The company paid a quarterly dividend of $0.28 per share, implying a 2.9% annualized yield. Analysts maintain a “Moderate Buy” consensus, and institutional investors own 31.19% of the stock.

Global Industrial Company (NYSE:GIC - Get Free Report) SVP Claudia Hughes sold 1,734 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $38.22, for a total value of $66,273.48. Following the sale, the senior vice president owned 36,920 shares in the company, valued at $1,411,082.40. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, August 28th, Claudia Hughes sold 4,753 shares of Global Industrial stock. The stock was sold at an average price of $39.78, for a total transaction of $189,074.34.

Global Industrial Stock Performance

Global Industrial stock traded down $0.55 during trading on Monday, reaching $39.05. The company had a trading volume of 145,396 shares, compared to its average volume of 139,627. Global Industrial Company has a 12-month low of $26.40 and a 12-month high of $40.71. The stock's 50 day moving average price is $36.17 and its two-hundred day moving average price is $33.17. The firm 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 (NYSE:GIC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, hitting analysts' consensus estimates 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%. As a group, research analysts expect 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. Shareholders of record on Monday, August 17th were given 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 of this dividend was Monday, August 17th. Global Industrial's payout ratio is 50.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GIC shares. Wall Street Zen upgraded Global Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Weiss Ratings raised shares of Global Industrial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Global Industrial has an average rating of "Moderate Buy".

Institutional Investors Weigh In On Global Industrial

Several hedge funds and other institutional investors have recently bought and sold shares of GIC. BlackRock Inc. purchased a new position in shares of Global Industrial during the 2nd quarter valued at approximately $53,365,000. California State Teachers Retirement System raised its holdings in Global Industrial by 3,728.8% in the second quarter. California State Teachers Retirement System now owns 684,592 shares of the company's stock valued at $22,906,000 after acquiring an additional 666,712 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Global Industrial during the 2nd quarter worth $10,510,000. Algert Global LLC bought a new stake in shares of Global Industrial in the 3rd quarter worth about $5,329,000. Finally, Bank of America Corp DE acquired a new stake in shares of Global Industrial in the 2nd quarter valued at about $3,367,000. 31.19% of the stock is currently owned by hedge funds and other 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.

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