Bruce Leeds Sells 5,840 Shares of Global Industrial (NYSE:GIC) Stock

Global Industrial (NYSE:GIC) Vice Chairman Bruce Leeds sold 5,840 shares of the firm’s stock in a transaction 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 $669,529. The trade was a 19.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Global Industrial Stock Down 0.8 %

Shares of GIC stock opened at $28.25 on Friday. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.10 and a beta of 0.86. The stock has a fifty day moving average of $30.86 and a 200 day moving average of $32.27. Global Industrial has a 52 week low of $25.00 and a 52 week high of $46.97.

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.14). The firm had revenue of $342.40 million for the quarter, compared to analysts’ expectations of $353.44 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. During the same period in the prior year, the business posted $0.54 EPS. Equities research analysts anticipate that Global Industrial will post 1.62 earnings per share for the current year.

Global Industrial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.54%. The ex-dividend date was Friday, November 8th. Global Industrial’s dividend payout ratio is currently 58.82%.

Hedge Funds Weigh In On Global Industrial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Copeland Capital Management LLC purchased a new position in Global Industrial during the third quarter valued at $61,000. Point72 Asset Management L.P. raised its position in shares of Global Industrial by 173.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock worth $111,000 after purchasing an additional 2,249 shares during the last quarter. National Bank of Canada FI raised its position in shares of Global Industrial by 41.8% in the 2nd quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock worth $153,000 after purchasing an additional 1,472 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Global Industrial by 12.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock worth $252,000 after purchasing an additional 919 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Global Industrial in the 3rd quarter worth about $281,000. Hedge funds and other institutional investors own 31.19% of the company’s stock.

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.