Global Industrial (NYSE:GIC) Vice Chairman Bruce Leeds Sells 5,840 Shares

Global Industrial (NYSE:GIC) Vice Chairman Bruce Leeds sold 5,840 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total transaction of $165,155.20. Following the sale, the insider now owns 23,675 shares of the company’s stock, valued at $669,529. This represents a 19.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Global Industrial Price Performance

Shares of NYSE:GIC opened at $28.31 on Friday. Global Industrial has a 12 month low of $25.00 and a 12 month high of $46.97. The firm has a market capitalization of $1.08 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.10 and a beta of 0.86. The company’s fifty day moving average price is $30.96 and its 200 day moving average price is $32.32.

Global Industrial (NYSE:GIC) last posted its earnings results on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). The firm had revenue of $342.40 million for the quarter, compared to analyst estimates of $353.44 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. During the same quarter last year, the firm posted $0.54 EPS. On average, sell-side analysts anticipate that Global Industrial will post 1.62 EPS for the current year.

Global Industrial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend was Friday, November 8th. Global Industrial’s dividend payout ratio is currently 58.82%.

Hedge Funds Weigh In On Global Industrial

A number of hedge funds have recently modified their holdings of the business. FMR LLC raised its position in Global Industrial by 14.7% in the 3rd quarter. FMR LLC now owns 2,534,156 shares of the company’s stock valued at $86,085,000 after purchasing an additional 325,555 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Global Industrial by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,022,574 shares of the company’s stock valued at $32,067,000 after buying an additional 6,602 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Global Industrial by 137.3% during the first quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock worth $32,118,000 after buying an additional 414,924 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Global Industrial by 2.7% during the second quarter. Renaissance Technologies LLC now owns 345,174 shares of the company’s stock worth $10,825,000 after buying an additional 9,200 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Global Industrial by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock valued at $10,740,000 after acquiring an additional 10,601 shares during the period. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

About Global Industrial

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.