Insider Selling: Global Industrial (NYSE:GIC) VP Sells 952 Shares of Stock

Key Points

• Insider selling: VP Thomas Axmacher sold 952 Global Industrial shares at an average price of $39.10, reducing his holdings by 12.92% to 6,414 shares. He also sold 1,848 shares the previous week.
• Financial performance: Global Industrial reported quarterly EPS of $0.54, in line with estimates, while revenue of $386.6 million exceeded expectations of $377.4 million. The stock traded near its 52-week high at $39.01.
• Dividend and outlook: The company declared a quarterly dividend of $0.28, equivalent to an annualized yield of about 2.9%. Analysts maintain a consensus “Hold” rating, despite one research firm upgrading the stock to “Strong Buy.”

Global Industrial Company (NYSE:GIC - Get Free Report) VP Thomas Axmacher sold 952 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $39.10, for a total transaction of $37,223.20. Following the sale, the vice president owned 6,414 shares of the company's stock, valued at approximately $250,787.40. This represents a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Thursday, August 6th, Thomas Axmacher sold 1,848 shares of Global Industrial stock. The stock was sold at an average price of $38.60, for a total value of $71,332.80.

Global Industrial Trading Down 0.2%

GIC stock traded down $0.07 during mid-day trading on Friday, hitting $39.01. The stock had a trading volume of 77,723 shares, compared to its average volume of 108,552. The company has a fifty day moving average of $34.41 and a 200 day moving average of $32.52. Global Industrial Company has a 1-year low of $26.40 and a 1-year high of $40.71. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 1.30 and a beta of 0.75.

Global Industrial (NYSE:GIC - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.54. The firm had revenue of $386.60 million during the quarter, compared to analysts' expectations of $377.40 million. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. As a group, sell-side analysts expect that Global Industrial Company will post 1.87 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be issued a $0.28 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.12 dividend on an annualized basis and a yield of 2.9%. Global Industrial's dividend payout ratio is currently 50.00%.

Hedge Funds Weigh In On Global Industrial

A number of institutional investors have recently modified their holdings of GIC. New York State Teachers Retirement System bought a new stake in shares of Global Industrial during the 4th quarter worth $38,000. Bard Associates Inc. bought a new position in Global Industrial in the 2nd quarter worth $67,000. Advisors Asset Management Inc. lifted its position in Global Industrial by 234.9% during the 4th quarter. Advisors Asset Management Inc. now owns 2,502 shares of the company's stock worth $73,000 after acquiring an additional 1,755 shares during the last quarter. State of Wyoming acquired a new position in Global Industrial during the 2nd quarter worth $117,000. Finally, State of Alaska Department of Revenue boosted its holdings in Global Industrial by 111.4% during the fourth quarter. State of Alaska Department of Revenue now owns 4,562 shares of the company's stock valued at $133,000 after acquiring an additional 2,404 shares during the period. Institutional investors own 31.19% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on GIC. Weiss Ratings upgraded Global Industrial from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 16th. Wall Street Zen upgraded Global Industrial from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Global Industrial has a consensus rating of "Hold".

About Global Industrial

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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