Systemax Inc. (SYX) Downgraded to Neutral at Sidoti

Sidoti cut shares of Systemax Inc. (NYSE:SYX) from a buy rating to a neutral rating in a report issued on Friday, Marketbeat.com reports.

Separately, BidaskClub lowered Systemax from a hold rating to a sell rating in a research note on Tuesday, August 1st.

Shares of Systemax (NYSE SYX) opened at $27.83 on Friday. The firm has a market capitalization of $1,079.90, a price-to-earnings ratio of 28.01 and a beta of 0.15. Systemax has a one year low of $7.05 and a one year high of $32.33.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 13th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, November 10th. Systemax’s dividend payout ratio is presently 400.04%.

In other news, CEO Lawrence P. Reinhold sold 80,203 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $26.79, for a total transaction of $2,148,638.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas Axmacher sold 2,886 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $24.51, for a total value of $70,735.86. Following the sale, the vice president now directly owns 3,211 shares of the company’s stock, valued at $78,701.61. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,969 shares of company stock valued at $3,419,726. Corporate insiders own 69.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Systemax by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,340,363 shares of the company’s stock worth $35,427,000 after acquiring an additional 14,552 shares in the last quarter. King Luther Capital Management Corp boosted its position in shares of Systemax by 5.0% in the second quarter. King Luther Capital Management Corp now owns 1,208,471 shares of the company’s stock worth $22,719,000 after buying an additional 58,000 shares during the period. Vanguard Group Inc. boosted its position in shares of Systemax by 37.9% in the second quarter. Vanguard Group Inc. now owns 831,951 shares of the company’s stock worth $15,640,000 after buying an additional 228,829 shares during the period. State Street Corp boosted its position in shares of Systemax by 22.9% in the second quarter. State Street Corp now owns 205,907 shares of the company’s stock worth $3,872,000 after buying an additional 38,352 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Systemax by 24.2% in the third quarter. Bank of New York Mellon Corp now owns 190,341 shares of the company’s stock worth $5,030,000 after buying an additional 37,129 shares during the period. 25.66% of the stock is owned by institutional investors and hedge funds.

Systemax Company Profile

Systemax Inc is a direct marketer of brand name and private label products. The Company’s segments are Industrial Products Group (IPG), EMEA Technology Products Group (EMEA), and Corporate and Other (Corporate). The IPG segment sells an array of maintenance, repair and operational (MRO) products, which are marketed in North America.

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