Global Industrial (NYSE:GIC) VP Thomas Axmacher Sells 1,314 Shares of Stock

Global Industrial Company (NYSE:GIC) VP Thomas Axmacher sold 1,314 shares of the business’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $46.80, for a total transaction of $61,495.20. Following the completion of the sale, the vice president directly owned 3,939 shares of the company’s stock, valued at approximately $184,345.20. The trade was a 25.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, November 9th, Thomas Axmacher sold 648 shares of Global Industrial stock. The stock was sold at an average price of $47.40, for a total transaction of $30,715.20.
• On Thursday, November 5th, Thomas Axmacher sold 3,759 shares of Global Industrial stock. The shares were 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 value of $37,223.20.

Global Industrial Stock Performance

GIC opened at $46.34 on Tuesday. The business’s fifty day moving average is $42.54 and its 200-day moving average is $35.39. The firm has a market cap of $1.77 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 1.59 and a beta of 0.75. Global Industrial Company has a 52-week low of $26.40 and a 52-week high of $51.63.

Global Industrial Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Global Industrial News Summary

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

• Neutral Sentiment: A financial review compared Global Industrial with Watsco, but the headline provided no specific conclusion or new company development. Financial Review: Watsco versus Global Industrial
• Negative Sentiment: Wall Street Zen lowered its rating on GIC. The article details provided do not specify the prior or new rating, but a downgrade can weigh on investor sentiment. Global Industrial Stock Rating Lowered by Wall Street Zen
• Negative Sentiment: VP Thomas Axmacher sold 5,721 shares over three transactions on Nov. 5, 6 and 9, for about $268,056 in total. The sales reduced his reported holdings to 3,291 shares; insider selling may add to market caution, though it does not by itself establish a change in the company’s outlook. SEC filing on insider transactions

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC increased its holdings in Global Industrial by 143.3% during the 3rd 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 shares of Global Industrial in the second quarter worth approximately $67,000. Empowered Funds LLC bought a new position in shares of Global Industrial in the second quarter valued at approximately $211,000. Odyssean LLC bought a new position in shares of Global Industrial in the second quarter valued at approximately $217,000. Finally, State of Wyoming purchased a new position in shares of Global Industrial during the second quarter valued at approximately $219,000. 31.19% of the stock is currently owned by institutional investors and hedge funds.

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.

The business traces its history to 1949 and was previously known as Systemax Inc before adopting the Global Industrial Company name in 2021.