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 on Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total transaction of $165,155.20. Following the transaction, the insider now owns 23,675 shares of the company’s stock, valued at approximately $669,529. The trade was a 19.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Global Industrial Stock Down 0.6 %

Shares of Global Industrial stock opened at $28.31 on Friday. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 1.10 and a beta of 0.86. Global Industrial has a 52-week low of $25.00 and a 52-week high of $46.97. The company’s 50-day simple moving average is $30.96 and its 200-day simple moving average is $32.32.

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

Global Industrial Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 3.53%. Global Industrial’s payout ratio is currently 58.82%.

Hedge Funds Weigh In On Global Industrial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its holdings in Global Industrial by 2.1% during the second quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock worth $619,000 after buying an additional 397 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Global Industrial by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 120,803 shares of the company’s stock worth $4,104,000 after acquiring an additional 456 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Global Industrial by 3.7% in the 1st 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 in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Global Industrial by 9.8% during the third quarter. The Manufacturers Life Insurance Company now owns 8,808 shares of the company’s stock worth $299,000 after purchasing an additional 786 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Global Industrial by 12.9% during the second 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 in the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

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.