First Trust Advisors LP increased its position in Standex Int’l Corp. (NYSE:SXI) by 507.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,516 shares of the industrial products company’s stock after acquiring an additional 10,454 shares during the period. First Trust Advisors LP owned approximately 0.10% of Standex Int’l worth $1,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Standex Int’l by 11.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 201,881 shares of the industrial products company’s stock worth $20,632,000 after acquiring an additional 21,541 shares during the last quarter. BlackRock Inc. raised its stake in Standex Int’l by 10.2% in the 2nd quarter. BlackRock Inc. now owns 1,847,731 shares of the industrial products company’s stock worth $188,837,000 after acquiring an additional 170,292 shares during the last quarter. Tygh Capital Management Inc. raised its stake in Standex Int’l by 3.4% in the 2nd quarter. Tygh Capital Management Inc. now owns 92,580 shares of the industrial products company’s stock worth $9,462,000 after acquiring an additional 3,025 shares during the last quarter. Amalgamated Bank purchased a new position in Standex Int’l in the 2nd quarter worth $208,000. Finally, Citadel Advisors LLC raised its stake in Standex Int’l by 21.8% in the 2nd quarter. Citadel Advisors LLC now owns 25,220 shares of the industrial products company’s stock worth $2,578,000 after acquiring an additional 4,514 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.
SXI has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Standex Int’l from a “hold” rating to a “buy” rating and set a $126.00 target price for the company in a research note on Tuesday, August 28th. TheStreet lowered Standex Int’l from a “b” rating to a “c+” rating in a research note on Monday, October 29th. William Blair restated a “market perform” rating on shares of Standex Int’l in a research note on Tuesday. Finally, ValuEngine lowered Standex Int’l from a “hold” rating to a “sell” rating in a research note on Monday, October 29th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $106.50.
In other Standex Int’l news, VP Thomas D. Debyle sold 2,000 shares of Standex Int’l stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $110.10, for a total transaction of $220,200.00. Following the completion of the transaction, the vice president now owns 65,343 shares in the company, valued at approximately $7,194,264.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.64% of the company’s stock.
Shares of SXI stock opened at $73.51 on Friday. The firm has a market capitalization of $952.80 million, a P/E ratio of 14.22 and a beta of 1.68. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.65. Standex Int’l Corp. has a 1 year low of $71.54 and a 1 year high of $114.20.
Standex Int’l (NYSE:SXI) last issued its earnings results on Monday, October 29th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.43 by ($0.22). The firm had revenue of $193.08 million during the quarter, compared to analysts’ expectations of $226.20 million. Standex Int’l had a return on equity of 14.52% and a net margin of 4.54%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $1.23 EPS. Analysts forecast that Standex Int’l Corp. will post 5.35 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 27th. Shareholders of record on Thursday, November 8th were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, November 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.09%. This is a positive change from Standex Int’l’s previous quarterly dividend of $0.18. Standex Int’l’s dividend payout ratio (DPR) is presently 15.47%.
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Standex Int’l Profile
Standex International Corporation manufactures and sells various products and services for commercial and industrial markets in the United States and internationally. The Food Service Equipment segment offers refrigerated cabinets, cases, display units, walk-in coolers, and freezers; commercial ovens, char broilers, ranges, griddles, toasters, warmers, roller grills, and countertop merchandisers; commercial cook and hold units, rotisseries, pressure fryers, and baking equipment; commercial deep fryers; merchandizing display cases; pump systems; and cold storage equipment.
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