Systemax Inc. (NYSE:SYX) announced a quarterly dividend on Wednesday, October 31st, Wall Street Journal reports. Investors of record on Monday, November 12th will be paid a dividend of 0.11 per share on Monday, November 19th. This represents a $0.44 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, November 8th.
Systemax has a payout ratio of 36.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Systemax to earn $1.45 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 30.3%.
Shares of SYX stock opened at $28.96 on Wednesday. Systemax has a one year low of $25.08 and a one year high of $47.75. The company has a market capitalization of $1.15 billion, a P/E ratio of 22.28 and a beta of 0.31.
SYX has been the topic of a number of research analyst 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, August 29th. They set a “market perform” rating on the stock. Finally, Zacks Investment Research upgraded Systemax from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Saturday.
In other Systemax news, SVP David Kipe sold 1,430 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $40.05, for a total transaction of $57,271.50. Following the transaction, the senior vice president now directly owns 857 shares in the company, valued at approximately $34,322.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 69.00% of the stock is currently owned by corporate insiders.
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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.
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