Key Points
- SVP Manoj Shetty sold 2,000 shares at an average price of $46.30, totaling $92,600. He retained 33,757 shares after the sale, a 5.59% reduction in his position.
- Global Industrial announced a $1.00 special dividend per share, payable November 23 to shareholders of record November 16.
- Analyst sentiment is generally cautious: the stock carries a consensus Hold rating and a $39 target price, below its reported $46.94 opening price.
Global Industrial Company (NYSE:GIC - Get Free Report) SVP Manoj Shetty sold 2,000 shares of Global Industrial stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $46.30, for a total transaction of $92,600.00. Following the sale, the senior vice president directly owned 33,757 shares in the company, valued at $1,562,949.10. The trade was a 5.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Global Industrial Price Performance
NYSE:GIC opened at $46.94 on Friday. The firm's 50-day moving average price is $43.03 and its 200-day moving average price is $35.64. The company has a market capitalization of $1.79 billion, a PE ratio of 19.56, a P/E/G ratio of 1.53 and a beta of 0.75. Global Industrial Company has a 1-year low of $26.40 and a 1-year high of $51.63.
Global Industrial Dividend Announcement
The company also recently disclosed a special dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 16th will be issued a $1.00 dividend. The ex-dividend date is Monday, November 16th. Global Industrial's payout ratio is presently 46.67%.
Analyst Ratings Changes
Several research firms have recently weighed in on GIC. Wall Street Zen cut shares of Global Industrial from a "strong-buy" rating to a "buy" rating in a report on Tuesday. Weiss Ratings cut shares of Global Industrial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, September 25th. Finally, Freedom Broker began coverage on shares of Global Industrial in a research report on Wednesday, October 14th. They issued a "hold" rating and a $39.00 target price for the company. Three equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Global Industrial has an average rating of "Hold" and a consensus target price of $39.00.
Get Our Latest Stock Report on Global Industrial
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of GIC. First Trust Advisors LP increased its position in Global Industrial by 15.5% in the third quarter. First Trust Advisors LP now owns 62,482 shares of the company's stock worth $2,620,000 after buying an additional 8,365 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Global Industrial during the 3rd quarter valued at about $15,778,000. Ieq Capital LLC purchased a new position in shares of Global Industrial during the 3rd quarter valued at about $396,000. Edgestream Partners L.P. bought a new position in shares of Global Industrial during the 3rd quarter valued at approximately $5,503,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Global Industrial by 92.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 28,202 shares of the company's stock valued at $1,184,000 after acquiring an additional 13,581 shares during the period. 31.19% of the stock is owned by hedge funds and other institutional investors.
Global Industrial Company Profile
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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.
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