Global Industrial (NYSE:GIC) VP Thomas Axmacher Sells 1,314 Shares of Company Stock

Key Points

• VP Thomas Axmacher sold 1,314 Global Industrial shares at an average of $46.80, totaling about $61,495; the sale reduced his stake by 25.01%, leaving him with 3,939 shares.
• Axmacher also reported other recent sales, including 3,759 shares on November 5 and 648 shares on November 9.
• Global Industrial announced a $1.00 special dividend per share, payable November 23 to shareholders of record November 16. Analysts’ consensus rating is Hold, with an average price target of $39.

Global Industrial Company (NYSE:GIC - Get Free Report) VP Thomas Axmacher sold 1,314 shares of the company's stock in a transaction on Friday, November 6th. The shares were sold at an average price of $46.80, for a total value of $61,495.20. Following the completion of the sale, the vice president owned 3,939 shares of the company's stock, valued at approximately $184,345.20. This trade represents a 25.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $30,715.20.
• On Thursday, November 5th, Thomas Axmacher sold 3,759 shares of Global Industrial stock. The stock was sold at an average price of $46.78, for a total value 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 value of $37,223.20.

Global Industrial Stock Down 0.1%

Global Industrial stock traded down $0.06 during midday trading on Monday, hitting $46.34. The company's stock had a trading volume of 172,341 shares, compared to its average volume of 119,132. The stock's 50-day moving average price is $42.40 and its 200-day moving average price is $35.32. Global Industrial Company has a 12 month low of $26.40 and a 12 month high of $51.63. The company has a market capitalization of $1.77 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.50 and a beta of 0.75.

Global Industrial Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Monday, November 23rd. Stockholders 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 payout ratio is currently 46.67%.

Wall Street Analysts Forecast Growth

GIC has been the topic of a number of research reports. Freedom Broker initiated coverage on shares of Global Industrial in a report on Wednesday, October 14th. They issued a "hold" rating and a $39.00 target price on the stock. Wall Street Zen upgraded shares of Global Industrial from a "buy" rating to a "strong-buy" rating in a report on Monday, November 2nd. Finally, Weiss Ratings lowered shares of Global Industrial from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, September 25th. Three research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $39.00.

Institutional Investors Weigh In On Global Industrial

Institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC lifted its holdings in shares of Global Industrial by 143.3% during the third quarter. Signaturefd LLC now owns 1,428 shares of the company's stock valued at $60,000 after purchasing an additional 841 shares during the last quarter. State of Wyoming boosted its position in shares of Global Industrial by 17.2% in the 3rd quarter. State of Wyoming now owns 7,679 shares of the company's stock valued at $322,000 after purchasing an additional 1,125 shares during the period. Bard Associates Inc. purchased a new position in Global Industrial in the 2nd quarter worth about $67,000. Quantinno Capital Management LP increased its stake in Global Industrial by 9.4% in the 1st quarter. Quantinno Capital Management LP now owns 43,329 shares of the company's stock worth $1,366,000 after purchasing an additional 3,730 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Global Industrial by 166.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,639 shares of the company's stock worth $278,000 after purchasing an additional 4,147 shares in the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

Global Industrial Company Profile

Global Industrial Company NYSE: GIC is a distributor of industrial, commercial and business products serving organizations across North America. The company sells products through its e-commerce platforms, catalogs and sales representatives, serving businesses, government agencies, educational institutions and other commercial customers.

Its product offerings include material-handling and storage equipment, shelving, cabinets, workbenches, safety supplies, janitorial and sanitation products, packaging materials, tools, lighting, HVAC equipment, office furniture and other facility-maintenance products.

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