Insider Selling: Global Industrial (NYSE:GIC) SVP Sells 2,000 Shares of Stock

Key Points

• Global Industrial SVP Manoj Shetty sold 2,000 shares at an average price of $46.30, totaling $92,600. He retained 33,757 shares after the sale, a 5.59% reduction in his direct holdings.
• The company declared a $1.00 special dividend, payable November 23 to shareholders of record on November 16.
• Analysts’ consensus rating is Hold, with a $39 price target; shares recently traded at $46.94.

Global Industrial Company (NYSE:GIC - Get Free Report) SVP Manoj Shetty sold 2,000 shares of the business's stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $46.30, for a total value of $92,600.00. Following the completion of the transaction, the senior vice president directly owned 33,757 shares of the company's stock, valued at approximately $1,562,949.10. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Global Industrial Trading Down 0.4%

Shares of NYSE GIC traded down $0.21 during mid-day trading on Thursday, reaching $46.94. 173,790 shares of the company's stock were exchanged, compared to its average volume of 120,145. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.53 and a beta of 0.75. The business has a fifty day simple moving average of $42.88 and a 200 day simple moving average of $35.55. Global Industrial Company has a twelve month low of $26.40 and a twelve month high of $51.63.

Global Industrial Announces Dividend

The business 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 of this dividend is Monday, November 16th. Global Industrial's payout ratio is presently 46.67%.

Analyst Upgrades and Downgrades

GIC has been the subject of several research reports. Weiss Ratings downgraded shares of Global Industrial from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, September 25th. Wall Street Zen cut shares of Global Industrial from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. Finally, Freedom Broker started coverage on shares of Global Industrial in a research report on Wednesday, October 14th. They issued a "hold" rating and a $39.00 price objective on the stock. 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 a consensus price target of $39.00.

Institutional Investors Weigh In On Global Industrial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC lifted its stake in Global Industrial by 143.3% in the 3rd quarter. Signaturefd LLC now owns 1,428 shares of the company's stock valued at $60,000 after acquiring an additional 841 shares in the last quarter. State of Wyoming grew its stake in shares of Global Industrial by 17.2% during the 3rd quarter. State of Wyoming now owns 7,679 shares of the company's stock worth $322,000 after acquiring an additional 1,125 shares in the last quarter. Bard Associates Inc. acquired a new stake in shares of Global Industrial in the second quarter valued at approximately $67,000. Quantinno Capital Management LP raised its holdings in shares of Global Industrial by 9.4% in the first quarter. Quantinno Capital Management LP now owns 43,329 shares of the company's stock valued at $1,366,000 after purchasing an additional 3,730 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Global Industrial by 166.4% in the third quarter. Nisa Investment Advisors LLC now owns 6,639 shares of the company's stock valued at $278,000 after purchasing an additional 4,147 shares during the last quarter. Institutional investors and hedge funds own 31.19% of the company's stock.

Global Industrial Company Profile

Global Industrial Company is a distributor of industrial and commercial products, serving businesses, government organizations and other institutions. The company sells through its e-commerce platform and sales teams, with operations focused on the United States and Canada. Its broad product range includes material-handling and storage equipment, tools, safety supplies, furniture, janitorial products, packaging materials and maintenance, repair and operations supplies. Products are offered under the Global Industrial brand as well as through third-party manufacturers.

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