Systemax Inc. (NYSE:SYX) SVP David Kipe sold 1,430 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $40.05, for a total value of $57,271.50. Following the sale, the senior vice president now owns 857 shares in the company, valued at approximately $34,322.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of NYSE SYX opened at $36.89 on Thursday. Systemax Inc. has a 1-year low of $23.63 and a 1-year high of $47.75. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 24.22 and a beta of 0.40.
Systemax (NYSE:SYX) last issued its quarterly earnings results on Tuesday, July 31st. The company reported $0.48 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. Systemax had a return on equity of 26.57% and a net margin of 5.69%. The company had revenue of $363.10 million for the quarter.
The business also recently declared a quarterly dividend, which was paid on Monday, August 20th. Shareholders of record on Monday, August 13th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, August 10th. This represents a $0.44 annualized dividend and a yield of 1.19%.
SYX has been the topic of several recent research reports. Sidoti upgraded Systemax from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Wednesday, August 22nd. They noted that the move was a valuation call. William Blair initiated coverage on Systemax in a report on Wednesday. They set a “market perform” rating on the stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC increased its holdings in Systemax by 181.2% during the 2nd quarter. Millennium Management LLC now owns 76,557 shares of the company’s stock worth $2,628,000 after purchasing an additional 49,328 shares during the period. Zebra Capital Management LLC boosted its position in shares of Systemax by 13.0% during the 2nd quarter. Zebra Capital Management LLC now owns 31,541 shares of the company’s stock worth $1,083,000 after acquiring an additional 3,628 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of Systemax during the 2nd quarter worth about $604,000. Macquarie Group Ltd. acquired a new position in shares of Systemax during the 2nd quarter worth about $120,000. Finally, King Luther Capital Management Corp boosted its position in shares of Systemax by 2.6% during the 2nd quarter. King Luther Capital Management Corp now owns 810,734 shares of the company’s stock worth $27,832,000 after acquiring an additional 20,225 shares in the last quarter. Institutional investors own 28.81% of the company’s stock.
Systemax Company Profile
Systemax Inc operates as a direct marketer of brand name and private label products. Its Industrial Products Group segment sells a range of maintenance, repair, and operation products, including storage and shelving, material handling, janitorial and maintenance, furniture and office, HVAC/R and fans, workbench and shop desks, safety and security, outdoor and grounds maintenance, tools and instruments, office and school supplies, plumbing and pumps, packaging and supplies, electrical and lighting, food service and appliances, raw materials and building supplies, motors and power transmission, pneumatics and hydraulics, medical and laboratory equipment, metalworking and cutting tools, vehicle maintenance, and fasteners and hardware in North America.
Further Reading: How are Outstanding Shares Different from Authorized Shares?
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