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 company’s stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Global Industrial Price Performance

Shares of NYSE GIC traded down $0.18 during mid-day trading on Friday, reaching $28.31. The company’s stock had a trading volume of 30,381 shares, compared to its average volume of 78,761. The firm has a market capitalization of $1.08 billion, a PE ratio of 16.62, a P/E/G ratio of 1.10 and a beta of 0.86. The stock has a fifty day moving average of $30.96 and a two-hundred day moving average of $32.32. Global Industrial has a 52 week low of $25.00 and a 52 week high of $46.97.

Global Industrial (NYSE:GIC) last released its quarterly earnings data 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). The business had revenue of $342.40 million during the quarter, compared to the consensus estimate of $353.44 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. During the same period last year, the company earned $0.54 EPS. Analysts anticipate that Global Industrial will post 1.62 EPS for the current fiscal year.

Global Industrial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Friday, November 8th. Global Industrial’s dividend payout ratio (DPR) is 58.82%.

Institutional Investors Weigh In On Global Industrial

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

About Global Industrial

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.