Key Points
- VP Thomas Axmacher sold 3,759 shares at an average of $46.78, for about $175,846, reducing his direct holdings to 5,253 shares.
- Global Industrial announced a $1.00 special dividend, payable November 23 to shareholders of record on November 16.
- Analyst sentiment is at Hold, with a consensus price target of $39.00; the stock opened at $46.34.
Global Industrial Company (NYSE:GIC - Get Free Report) VP Thomas Axmacher sold 3,759 shares of the stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $46.78, for a total transaction of $175,846.02. Following the transaction, the vice president directly owned 5,253 shares in the company, valued at $245,735.34. The trade was a 41.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 value of $30,715.20.
- 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, 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 Price Performance
GIC stock opened at $46.34 on Tuesday. Global Industrial Company has a 52-week low of $26.40 and a 52-week high of $51.63. The company has a 50-day moving average of $42.54 and a two-hundred day moving average of $35.39. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.59 and a beta of 0.75.
Global Industrial Dividend Announcement
The firm also recently disclosed a special dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 16th will be given a $1.00 dividend. The ex-dividend date of this dividend is Monday, November 16th. Global Industrial's dividend payout ratio is currently 46.67%.
Global Industrial News Roundup
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
Analyst Ratings Changes
Several brokerages recently issued reports on GIC. Weiss Ratings lowered Global Industrial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, September 25th. Wall Street Zen cut Global Industrial from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. Finally, Freedom Broker began coverage on shares of Global Industrial in a research note on Wednesday, October 14th. They set a "hold" rating and a $39.00 price target on the stock. Three analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $39.00.
Read Our Latest Research Report on GIC
Hedge Funds Weigh In On Global Industrial
A number of large investors have recently modified their holdings of GIC. Signaturefd LLC raised 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 acquiring an additional 841 shares during the last quarter. Bard Associates Inc. acquired a new stake in Global Industrial during the 2nd quarter worth $67,000. Empowered Funds LLC bought a new position in shares of Global Industrial during the 2nd quarter valued at about $211,000. Odyssean LLC acquired a new position in shares of Global Industrial in the second quarter valued at approximately $217,000. Finally, State of Wyoming bought a new position in Global Industrial during the 2nd quarter worth about $219,000. 31.19% of the stock is currently owned by institutional investors and hedge funds.
About Global Industrial
(
Get Free Report)
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.
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