Global Industrial (NYSE:GIC) VP Thomas Axmacher Sells 648 Shares of Company Stock

Key Points

• VP Thomas Axmacher sold 648 Global Industrial shares at an average $47.40, worth about $30,715, reducing his position by 16.45% to 3,291 shares. He had also sold 5,073 shares in two transactions earlier in November.
• Global Industrial declared a $1.00-per-share special dividend, payable November 23 to shareholders of record November 16.
• Analyst sentiment is mixed, with the stock carrying an average “Hold” rating and a $39 price target; shares were trading at $46.34 in the reported session.

Global Industrial Company (NYSE:GIC - Get Free Report) VP Thomas Axmacher sold 648 shares of the firm's stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $47.40, for a total transaction of $30,715.20. Following the completion of the sale, the vice president directly owned 3,291 shares in the company, valued at approximately $155,993.40. This trade represents a 16.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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, 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 transaction 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 transaction of $37,223.20.

Global Industrial Stock Performance

Shares of NYSE:GIC traded down $0.06 during trading hours on Monday, reaching $46.34. The stock had a trading volume of 172,341 shares, compared to its average volume of 119,132. Global Industrial Company has a 1 year low of $26.40 and a 1 year high of $51.63. The firm's 50 day moving average is $42.40 and its 200-day moving average is $35.32. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 1.50 and a beta of 0.75.

Global Industrial Announces Dividend

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

Analyst Ratings Changes

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

Institutional Trading of Global Industrial

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

About Global Industrial

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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