Rep. Thomas R. Suozzi Sells Off Shares of Global Industrial (NYSE:GIC)

Representative Thomas R. Suozzi (D-New York) recently sold shares of Global Industrial NYSE: GIC. In a filing disclosed on April 21st, the Representative disclosed that they had sold between $15,001 and $50,000 in Global Industrial stock on March 31st.

Global Industrial Stock Up 0.3 %

Shares of GIC stock traded up $0.06 during trading hours on Tuesday, hitting $22.10. 133,708 shares of the company's stock traded hands, compared to its average volume of 91,850. The stock's 50 day simple moving average is $22.57 and its 200 day simple moving average is $25.44. The stock has a market cap of $846.67 million, a PE ratio of 13.00, a price-to-earnings-growth ratio of 0.93 and a beta of 0.85. Global Industrial has a 12 month low of $20.79 and a 12 month high of $39.30.

Global Industrial (NYSE:GIC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.15. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. As a group, equities research analysts expect that Global Industrial will post 1.59 EPS for the current fiscal year.

Global Industrial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.04 annualized dividend and a dividend yield of 4.71%. This is an increase from Global Industrial's previous quarterly dividend of $0.25. Global Industrial's dividend payout ratio (DPR) is presently 66.24%.

Institutional Investors Weigh In On Global Industrial

Several large investors have recently modified their holdings of the company. J. Goldman & Co LP increased its position in shares of Global Industrial by 559.7% during the fourth quarter. J. Goldman & Co LP now owns 494,650 shares of the company's stock worth $12,262,000 after buying an additional 419,672 shares during the period. Bank of New York Mellon Corp increased its position in shares of Global Industrial by 65.6% during the fourth quarter. Bank of New York Mellon Corp now owns 319,282 shares of the company's stock worth $7,915,000 after buying an additional 126,431 shares during the period. Geode Capital Management LLC increased its position in shares of Global Industrial by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 319,056 shares of the company's stock worth $7,912,000 after buying an additional 2,973 shares during the period. State Street Corp increased its position in shares of Global Industrial by 2.6% during the third quarter. State Street Corp now owns 315,779 shares of the company's stock worth $10,727,000 after buying an additional 8,136 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Global Industrial in the fourth quarter worth $4,001,000. 31.19% of the stock is currently owned by institutional investors and hedge funds.

About Representative Suozzi

Thomas Richard Suozzi (born August 31, 1962) is an American politician, attorney, and accountant serving as the U.S. representative for New York's 3rd congressional district since 2024 and previously from 2017 to 2023. A member of the Democratic Party, he was the county executive of Nassau County on Long Island from 2002 to 2009, when he was unseated by Republican Ed Mangano. Before that, Suozzi served eight years as the mayor of Glen Cove in Nassau County. In 2006, he ran unsuccessfully against Eliot Spitzer for the Democratic nomination for governor of New York. Suozzi was elected to the U.S. House of Representatives in 2016 and reelected in 2018 and 2020. He retired from Congress to run again for the Democratic gubernatorial nomination in 2022, losing to incumbent governor Kathy Hochul. In October 2023, Suozzi announced that he would run for his old congressional seat in 2024.After Congress expelled George Santos that December, a special election to fill the remainder of the term was scheduled for February 13, 2024. Suozzi was selected as the Democratic nominee, and then won the special election, reclaiming the seat for Democrats.

Global Industrial Company Profile

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.