Systemax Inc. (SYX) Shares Bought by Bank of New York Mellon Corp
Bank of New York Mellon Corp boosted its stake in shares of Systemax Inc. (NYSE:SYX) by 5.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 153,212 shares of the company’s stock after acquiring an additional 7,452 shares during the period. Bank of New York Mellon Corp owned about 0.41% of Systemax worth $2,881,000 at the end of the most recent quarter.
Separately, Rhumbline Advisers raised its position in Systemax by 0.6% during the second quarter. Rhumbline Advisers now owns 15,372 shares of the company’s stock worth $289,000 after acquiring an additional 88 shares during the period. 25.23% of the stock is owned by institutional investors and hedge funds.
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In other Systemax 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 value of $2,148,638.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas Axmacher sold 2,886 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $24.51, for a total value of $70,735.86. Following the completion of the sale, the vice president now directly owns 3,211 shares of the company’s stock, valued at approximately $78,701.61. The disclosure for this sale can be found here. In the last three months, insiders sold 146,283 shares of company stock valued at $3,788,403. 69.60% of the stock is owned by corporate insiders.
A number of equities analysts have weighed in on SYX shares. Sidoti restated a “neutral” rating and set a $22.00 price objective (up from $20.00) on shares of Systemax in a research report on Sunday, June 25th. BidaskClub cut shares of Systemax from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th.
Systemax Inc. (SYX) opened at 28.29 on Wednesday. The firm’s 50-day moving average is $25.53 and its 200-day moving average is $19.32. Systemax Inc. has a 52-week low of $7.05 and a 52-week high of $29.50. The firm’s market capitalization is $1.05 billion.
Systemax (NYSE:SYX) last released its earnings results on Tuesday, August 1st. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.16. Systemax had a positive return on equity of 12.27% and a negative net margin of 0.87%. The company had revenue of $313.00 million during the quarter. On average, analysts anticipate that Systemax Inc. will post $1.26 earnings per share for the current year.
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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