Global Industrial (NYSE:GIC) VP Thomas Axmacher Sells 3,759 Shares of Company Stock

Key Points

• VP Thomas Axmacher sold 3,759 Global Industrial shares at an average of $46.78, totaling about $175,846. After the sale, he owned 5,253 shares, a 41.71% reduction in his position.
• Axmacher also reported other recent sales, including 648 shares at $47.40 and 1,314 shares at $46.80.
• Global Industrial announced a $1.00-per-share special dividend, payable November 23 to shareholders of record November 16. Analysts’ consensus rating was Hold, with an average price target of $39.

Global Industrial Company (NYSE:GIC - Get Free Report) VP Thomas Axmacher sold 3,759 shares of the business's stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $46.78, for a total transaction of $175,846.02. Following the completion of the sale, the vice president directly owned 5,253 shares of the company's stock, valued at $245,735.34. This represents a 41.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Thomas Axmacher also recently made the following trade(s):

• On Monday, November 9th, Thomas Axmacher sold 648 shares of Global Industrial stock. The stock was sold at an average price of $47.40, for a total transaction of $30,715.20.
• On Friday, November 6th, Thomas Axmacher sold 1,314 shares of Global Industrial stock. The stock was sold at an average price of $46.80, for a total transaction of $61,495.20.
• 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 Performance

Shares of NYSE GIC traded down $0.06 during midday trading on Monday, reaching $46.34. The company's stock had a trading volume of 172,341 shares, compared to its average volume of 119,132. Global Industrial Company has a fifty-two week low of $26.40 and a fifty-two week high of $51.63. The business's 50 day moving average price is $42.40 and its two-hundred day moving average price is $35.32. The company has a market cap of $1.77 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.50 and a beta of 0.75.

Global Industrial Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 16th will be paid a dividend of $1.00 per share. The ex-dividend date is Monday, November 16th. Global Industrial's dividend payout ratio (DPR) is 46.67%.

Wall Street Analyst Weigh In

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

Institutional Trading of Global Industrial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE acquired a new stake in Global Industrial in the second quarter worth $3,367,000. Bank of New York Mellon Corp acquired a new position in shares of Global Industrial during the second quarter valued at about $10,510,000. Walleye Capital LLC acquired a new position in shares of Global Industrial during the second quarter valued at about $1,923,000. BlackRock Inc. bought a new position in Global Industrial in the second quarter worth approximately $53,365,000. Finally, J. Goldman & Co LP acquired a new stake in Global Industrial in the 2nd quarter valued at $2,057,000. Institutional investors own 31.19% of the company's stock.

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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