Insider Selling: Global Industrial (NYSE:GIC) Vice Chairman Sells $165,155.20 in Stock

Global Industrial (NYSE:GIC) Vice Chairman Bruce Leeds sold 5,840 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total value of $165,155.20. Following the completion of the sale, the insider now directly owns 23,675 shares of the company’s stock, valued at approximately $669,529. This trade represents a 19.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Global Industrial Trading Down 0.8 %

NYSE GIC opened at $28.25 on Monday. The business has a fifty day simple moving average of $30.86 and a 200 day simple moving average of $32.26. Global Industrial has a 12 month low of $25.00 and a 12 month high of $46.97. The firm has a market capitalization of $1.08 billion, a P/E ratio of 16.62, a PEG ratio of 1.09 and a beta of 0.86.

Global Industrial (NYSE:GIC) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The firm had revenue of $342.40 million for the quarter, compared to the consensus estimate of $353.44 million. During the same period in the previous year, the business earned $0.54 earnings per share. As a group, sell-side analysts predict that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Friday, November 8th. Global Industrial’s dividend payout ratio is presently 58.82%.

Institutional Trading of Global Industrial

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Global Industrial by 137.3% during the 1st quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock valued at $32,118,000 after purchasing an additional 414,924 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Global Industrial during the second quarter worth about $1,017,000. Denali Advisors LLC raised its position in Global Industrial by 44.5% in the second quarter. Denali Advisors LLC now owns 57,122 shares of the company’s stock worth $1,791,000 after acquiring an additional 17,600 shares during the period. Millennium Management LLC boosted its stake in Global Industrial by 79.4% in the second quarter. Millennium Management LLC now owns 126,107 shares of the company’s stock valued at $3,955,000 after acquiring an additional 55,801 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Global Industrial by 3.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company’s stock valued at $576,000 after acquiring an additional 459 shares during the period. 31.19% of the stock is currently owned by institutional investors.

Global Industrial Company Profile

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.