Bruce Leeds Sells 380,000 Shares of Global Industrial (NYSE:GIC) Stock

Global Industrial (NYSE:GICGet Free Report) Vice Chairman Bruce Leeds sold 380,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $41.15, for a total value of $15,637,000.00. Following the sale, the insider now owns 139,800 shares of the company’s stock, valued at approximately $5,752,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Global Industrial Price Performance

GIC opened at $45.51 on Wednesday. Global Industrial has a 1 year low of $20.52 and a 1 year high of $45.94. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 1.37 and a beta of 0.88. The firm’s fifty day moving average price is $42.68 and its two-hundred day moving average price is $37.81.

Global Industrial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.20%. This is an increase from Global Industrial’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 8th. Global Industrial’s dividend payout ratio is presently 54.05%.

Hedge Funds Weigh In On Global Industrial

Several hedge funds have recently modified their holdings of GIC. Vanguard Group Inc. grew its holdings in shares of Global Industrial by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 302,307 shares of the company’s stock valued at $11,742,000 after acquiring an additional 13,390 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Global Industrial by 26.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 86,169 shares of the company’s stock valued at $3,347,000 after purchasing an additional 17,833 shares during the period. Barclays PLC increased its position in shares of Global Industrial by 211.6% during the 4th quarter. Barclays PLC now owns 22,663 shares of the company’s stock valued at $880,000 after purchasing an additional 15,391 shares during the last quarter. Voya Investment Management LLC bought a new stake in shares of Global Industrial during the 4th quarter worth $220,000. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Global Industrial by 5.4% in the 4th quarter. Nuveen Asset Management LLC now owns 55,140 shares of the company’s stock worth $2,142,000 after buying an additional 2,809 shares during the last quarter. Institutional investors own 31.02% of the company’s stock.

Global Industrial Company Profile

(Get Free Report)

Global Industrial Company operates as a value-added industrial distributor of industrial and maintenance, repair, and operation (MRO) products in North America. The company offers industrial and MRO products under Global, GlobalIndustrial.com, Nexel, Paramount, and Interion trademarks. It offers products, including 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, food service and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.

Further Reading

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