Insider Selling: Global Industrial (NYSE:GIC) SVP Sells $66,273.48 in Stock

Global Industrial Company (NYSE:GIC) SVP Claudia Hughes sold 1,734 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $38.22, for a total transaction of $66,273.48. Following the completion of the sale, the senior vice president directly owned 36,920 shares of the company’s stock, valued at $1,411,082.40. The trade was a 4.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Claudia Hughes also recently made the following trade(s):

• On Friday, August 28th, Claudia Hughes sold 4,753 shares of Global Industrial stock. The stock was sold at an average price of $39.78, for a total transaction of $189,074.34.

Global Industrial Stock Up 1.2%

GIC opened at $39.10 on Thursday. The company has a fifty day simple moving average of $36.39 and a 200 day simple moving average of $33.26. The stock has a market cap of $1.49 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.29 and a beta of 0.77. Global Industrial Company has a 12 month low of $26.40 and a 12 month high of $40.71.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. Global Industrial had a return on equity of 21.49% and a net margin of 6.06%.The company had revenue of $386.60 million during the quarter, compared to the consensus estimate of $377.40 million. On average, equities research analysts expect that Global Industrial Company will post 1.87 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.12 annualized dividend and a dividend yield of 2.9%. Global Industrial’s dividend payout ratio is currently 50.00%.

Institutional Trading of Global Industrial

Several hedge funds have recently added to or reduced their stakes in GIC. BlackRock Inc. acquired a new position in Global Industrial in the 2nd quarter valued at $53,365,000. California State Teachers Retirement System lifted its holdings in shares of Global Industrial by 3,728.8% during the second quarter. California State Teachers Retirement System now owns 684,592 shares of the company’s stock worth $22,906,000 after buying an additional 666,712 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Global Industrial in the second quarter valued at about $10,510,000. Algert Global LLC bought a new stake in shares of Global Industrial in the third quarter valued at about $5,329,000. Finally, Bank of America Corp DE acquired a new position in shares of Global Industrial in the second quarter valued at about $3,367,000. 31.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GIC has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Global Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. Wall Street Zen raised Global Industrial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Global Industrial Company Profile

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.