Global Industrial (NYSE:GIC) VP Thomas Axmacher Sells 648 Shares of Company Stock

Global Industrial Company (NYSE:GIC) VP Thomas Axmacher sold 648 shares of the firm’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $47.40, for a total value of $30,715.20. Following the sale, the vice president directly owned 3,291 shares of the company’s stock, valued at $155,993.40. The trade was a 16.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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, 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 shares were sold at an average price of $39.10, for a total transaction of $37,223.20.

Global Industrial Price Performance

Shares of GIC stock opened at $46.34 on Tuesday. The firm has a market cap of $1.77 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.59 and a beta of 0.75. The company has a 50-day moving average of $42.54 and a two-hundred day moving average of $35.39. Global Industrial Company has a 1-year low of $26.40 and a 1-year high of $51.63.

Global Industrial Dividend Announcement

The business also recently declared a special dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 16th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Monday, November 16th. Global Industrial’s payout ratio is 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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GIC. Signaturefd LLC lifted its holdings in shares of Global Industrial by 143.3% in the 3rd quarter. Signaturefd LLC now owns 1,428 shares of the company’s stock valued at $60,000 after purchasing an additional 841 shares during the last quarter. State of Wyoming grew its stake in Global Industrial by 17.2% during the 3rd quarter. State of Wyoming now owns 7,679 shares of the company’s stock worth $322,000 after buying an additional 1,125 shares during the last quarter. Bard Associates Inc. purchased a new position in Global Industrial during the 2nd quarter worth approximately $67,000. Quantinno Capital Management LP increased its position in Global Industrial by 9.4% during the first quarter. Quantinno Capital Management LP now owns 43,329 shares of the company’s stock worth $1,366,000 after buying an additional 3,730 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Global Industrial by 166.4% during the third quarter. Nisa Investment Advisors LLC now owns 6,639 shares of the company’s stock worth $278,000 after buying an additional 4,147 shares during the period. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GIC. Wall Street Zen cut shares of Global Industrial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Freedom Broker began coverage on shares of Global Industrial in a report on Wednesday, October 14th. They issued a “hold” rating and a $39.00 target price for the company. Finally, Weiss Ratings lowered Global Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. Three analysts have rated the stock with a Hold rating. According to MarketBeat, Global Industrial presently has a consensus rating of “Hold” and a consensus price target of $39.00.

About Global Industrial

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.