Global Industrial (NYSE:GIC) SVP Claudia Hughes Sells 4,753 Shares of Stock

Global Industrial Company (NYSE:GIC) SVP Claudia Hughes sold 4,753 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $39.78, for a total transaction of $189,074.34. Following the completion of the transaction, the senior vice president directly owned 32,167 shares in the company, valued at $1,279,603.26. The trade was a 12.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Claudia Hughes also recently made the following trade(s):

• On Thursday, August 27th, Claudia Hughes sold 1,734 shares of Global Industrial stock. The stock was sold at an average price of $38.22, for a total transaction of $66,273.48.

Global Industrial Stock Performance

Shares of GIC stock traded down $0.55 during midday trading on Monday, hitting $39.05. 145,396 shares of the company were exchanged, compared to its average volume of 139,627. Global Industrial Company has a 52 week low of $26.40 and a 52 week high of $40.71. The firm has a market capitalization of $1.49 billion, a P/E ratio of 17.43, a PEG ratio of 1.32 and a beta of 0.75. The firm’s 50 day moving average price is $36.17 and its two-hundred day moving average price is $33.17.

Global Industrial (NYSE:GIC) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $386.60 million for the quarter, compared to analysts’ expectations of $377.40 million. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. Analysts expect that Global Industrial Company will post 1.87 EPS for the current year.

Global Industrial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were given a $0.28 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.12 annualized dividend and a dividend yield of 2.9%. Global Industrial’s dividend payout ratio is presently 50.00%.

Analysts Set New Price Targets

GIC has been the subject of several research reports. Weiss Ratings raised Global Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 18th. Wall Street Zen raised Global Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Institutional Trading of Global Industrial

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Global Industrial during the second quarter valued at about $53,365,000. California State Teachers Retirement System grew its stake in shares of Global Industrial by 3,728.8% in the second quarter. California State Teachers Retirement System now owns 684,592 shares of the company’s stock worth $22,906,000 after purchasing an additional 666,712 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Global Industrial during the 2nd quarter worth $10,510,000. Algert Global LLC acquired a new position in Global Industrial during the 3rd quarter worth about $5,329,000. Finally, Bank of America Corp DE bought a new stake in shares of Global Industrial in the 2nd quarter valued at about $3,367,000. Institutional investors own 31.19% of the company’s stock.

About Global Industrial

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.