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 company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total transaction of $165,155.20. Following the sale, the insider now directly owns 23,675 shares in the company, valued at approximately $669,529. This trade represents a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Global Industrial Trading Down 0.8 %

Shares of GIC stock opened at $28.25 on Monday. The firm’s 50 day moving average is $30.86 and its 200 day moving average is $32.26. The stock 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 has a 12 month low of $25.00 and a 12 month high of $46.97.

Global Industrial (NYSE:GIC) last posted its earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.14). The company had revenue of $342.40 million for the quarter, compared to analysts’ expectations of $353.44 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. During the same quarter in the prior year, the company earned $0.54 EPS. On average, equities analysts predict 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Friday, November 8th. Global Industrial’s payout ratio is presently 58.82%.

Institutional Investors Weigh In On Global Industrial

A number of institutional investors and hedge funds have recently modified their holdings of GIC. Rhumbline Advisers grew its stake in Global Industrial by 2.1% during the second quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock valued at $619,000 after acquiring an additional 397 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Global Industrial by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 120,803 shares of the company’s stock valued at $4,104,000 after purchasing an additional 456 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Global Industrial by 3.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company’s stock worth $576,000 after buying an additional 459 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake 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 valued at $299,000 after buying an additional 786 shares during the period. Finally, The Manufacturers Life Insurance Company grew 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 buying an additional 919 shares in the last quarter. 31.19% of the stock is 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.