Global Industrial (NYSE:GIC) Stock: Insider Thomas Axmacher Sells 648 Shares

Global Industrial Company (NYSE:GIC) VP Thomas Axmacher sold 648 shares of the business’s stock in a transaction 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 transaction, the vice president owned 3,291 shares of the company’s stock, valued at approximately $155,993.40. This represents a 16.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were 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 Up 2.4%

GIC stock opened at $47.39 on Wednesday. Global Industrial Company has a 52-week low of $26.40 and a 52-week high of $51.63. The firm has a market cap of $1.81 billion, a P/E ratio of 19.75, a PEG ratio of 1.50 and a beta of 0.75. The company’s 50-day simple moving average is $42.71 and its 200-day simple moving average is $35.47.

Global Industrial Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 16th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Monday, November 16th. Global Industrial’s dividend payout ratio is presently 46.67%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GIC. Weiss Ratings lowered Global Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. Wall Street Zen lowered shares of Global Industrial from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, Freedom Broker initiated coverage on shares of Global Industrial in a research report on Wednesday, October 14th. They set a “hold” rating and a $39.00 price objective for the company. Three research analysts have rated the stock with a Hold rating. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $39.00.

Institutional Trading of Global Industrial

A number of institutional investors have recently made changes to their positions in GIC. Signaturefd LLC increased its position in shares of 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 purchasing an additional 841 shares in the last quarter. Bard Associates Inc. purchased a new stake in Global Industrial during the 2nd quarter valued at about $67,000. Empowered Funds LLC purchased a new position in Global Industrial in the 2nd quarter worth approximately $211,000. Odyssean LLC purchased a new position in Global Industrial in the 2nd quarter worth approximately $217,000. Finally, State of Wyoming purchased a new position in Global Industrial in the 2nd quarter worth approximately $219,000. 31.19% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Global Industrial

Here are the key news stories impacting Global Industrial this week:

• Positive Sentiment: Global Industrial declared a $1.00-per-share special dividend, payable November 23 to shareholders of record November 16. The payout may attract income-focused investors and provide support for sentiment. Global Industrial company and dividend information
• Neutral Sentiment: Wall Street Zen lowered its rating from “strong buy” to “buy”—a less bullish view, but not a sell recommendation. The article provides no new price target. Wall Street Zen rating report
• Negative Sentiment: VP Thomas Axmacher sold 5,721 shares in transactions on November 5, 6 and 9, totaling about $268,056. His reported holdings fell to 3,291 shares. Insider sales can raise caution, although they do not by themselves indicate a change in the company’s prospects. SEC filing on insider transactions

About Global Industrial

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.