Key Points
- Global Industrial VP Thomas Axmacher sold 1,848 shares at an average price of $38.60, totaling $71,332.80 and reducing his direct holdings by 20.06%.
- The company’s latest quarterly results met expectations with earnings of $0.54 per share, while revenue of $386.6 million exceeded estimates of $377.4 million.
- Global Industrial declared a quarterly dividend of $0.28 per share, equivalent to an annualized yield of about 2.8%; analysts maintain a consensus “Hold” rating despite one recent upgrade.
Global Industrial Company (NYSE:GIC - Get Free Report) VP Thomas Axmacher sold 1,848 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $38.60, for a total transaction of $71,332.80. Following the transaction, the vice president directly owned 7,366 shares of the company's stock, valued at approximately $284,327.60. This trade represents a 20.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Global Industrial Price Performance
NYSE GIC opened at $39.93 on Tuesday. Global Industrial Company has a 1 year low of $26.40 and a 1 year high of $40.26. The company has a market capitalization of $1.52 billion, a PE ratio of 17.83, a P/E/G ratio of 1.30 and a beta of 0.75. The company has a fifty day moving average of $33.89 and a 200 day moving average of $32.35.
Global Industrial (NYSE:GIC - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, meeting analysts' consensus estimates of $0.54. Global Industrial had a return on equity of 21.49% and a net margin of 6.06%.The business had revenue of $386.60 million during the quarter, compared to analyst estimates of $377.40 million. Research analysts expect that Global Industrial Company will post 1.88 earnings per share for the current year.
Global Industrial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.12 dividend on an annualized basis and a yield of 2.8%. Global Industrial's payout ratio is presently 50.00%.
Analysts Set New Price Targets
Several research firms have recently weighed in on GIC. Weiss Ratings raised shares of Global Industrial from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 16th. Wall Street Zen upgraded shares of Global Industrial from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Global Industrial has a consensus rating of "Hold".
View Our Latest Analysis on GIC
Institutional Investors Weigh In On Global Industrial
A number of large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Global Industrial in the second quarter worth about $53,365,000. Dimensional Fund Advisors LP raised its holdings in Global Industrial by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 893,325 shares of the company's stock valued at $28,155,000 after acquiring an additional 8,901 shares during the last quarter. Vanguard Group Inc. raised its holdings in Global Industrial by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 822,006 shares of the company's stock valued at $30,143,000 after acquiring an additional 17,194 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Global Industrial in the 2nd quarter worth approximately $10,510,000. Finally, J. Goldman & Co LP lifted its stake in Global Industrial by 9.4% in the 4th quarter. J. Goldman & Co LP now owns 307,757 shares of the company's stock worth $8,993,000 after purchasing an additional 26,365 shares in the last quarter. Hedge funds and other institutional investors own 31.19% of the company's stock.
About Global Industrial
(
Get Free Report)
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.
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