Insider Selling: Systemax Inc. (SYX) Director Sells 35,000 Shares of Stock

Systemax Inc. (NYSE:SYX) Director Lawrence P. Reinhold sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $22.22, for a total value of $777,700.00. Following the transaction, the director now owns 215,011 shares of the company’s stock, valued at approximately $4,777,544.42. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

SYX stock opened at $21.38 on Thursday. Systemax Inc. has a fifty-two week low of $19.82 and a fifty-two week high of $47.75. The firm has a market cap of $774.78 million, a P/E ratio of 17.24 and a beta of -0.05. The company has a quick ratio of 1.05, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.

Systemax (NYSE:SYX) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.05. Systemax had a return on equity of 25.22% and a net margin of 20.96%. The firm had revenue of $232.20 million during the quarter, compared to analysts’ expectations of $231.65 million. Systemax’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts expect that Systemax Inc. will post 1.39 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, May 10th. This represents a $0.48 dividend on an annualized basis and a yield of 2.25%. Systemax’s dividend payout ratio is 38.71%.

Hedge funds have recently added to or reduced their stakes in the stock. Scout Investments Inc. acquired a new stake in Systemax during the 4th quarter valued at $2,975,000. Bank of New York Mellon Corp increased its holdings in Systemax by 4.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 161,744 shares of the company’s stock valued at $5,328,000 after purchasing an additional 6,285 shares in the last quarter. Alambic Investment Management L.P. acquired a new stake in Systemax during the 4th quarter valued at $1,185,000. Vanguard Group Inc. increased its holdings in Systemax by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,041,968 shares of the company’s stock valued at $34,322,000 after purchasing an additional 15,257 shares in the last quarter. Finally, Prescott Investors Profit Sharing Trust acquired a new stake in Systemax during the 4th quarter valued at $1,797,000. 28.42% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently commented on SYX shares. TheStreet downgraded Systemax from a “b-” rating to a “c+” rating in a research report on Friday, March 22nd. Zacks Investment Research downgraded Systemax from a “buy” rating to a “sell” rating in a research report on Tuesday, March 5th.

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About Systemax

Systemax Inc operates as a direct marketer of brand name and private label industrial and business equipment and supplies in North America. It sells a range of maintenance, repair, and operation products, including storage and shelving, material handling, janitorial and maintenance products, furniture and office products, workbenches and shop desks, HVAC/R and fans, safety and security products, outdoor and grounds maintenance products, tools and instruments, and office and school supplies.

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