1ST Source Bank Increases Stake in Standex International Corporation $SXI

1ST Source Bank raised its position in Standex International Corporation (NYSE:SXI) by 32.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,126 shares of the industrial products company’s stock after acquiring an additional 2,000 shares during the period. 1ST Source Bank owned approximately 0.07% of Standex International worth $2,071,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Corient Private Wealth LLC increased its position in Standex International by 4.6% during the 4th quarter. Corient Private Wealth LLC now owns 1,148 shares of the industrial products company’s stock worth $252,000 after purchasing an additional 50 shares during the period. Personal CFO Solutions LLC grew its holdings in Standex International by 2.3% during the first quarter. Personal CFO Solutions LLC now owns 2,377 shares of the industrial products company’s stock worth $606,000 after acquiring an additional 54 shares during the period. Cornerstone Planning Group LLC raised its position in Standex International by 144.7% in the fourth quarter. Cornerstone Planning Group LLC now owns 115 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 68 shares in the last quarter. UMB Bank n.a. raised its position in Standex International by 132.7% in the fourth quarter. UMB Bank n.a. now owns 128 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 73 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Standex International by 3.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,767 shares of the industrial products company’s stock valued at $601,000 after acquiring an additional 95 shares during the period. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SXI shares. Zacks Research upgraded shares of Standex International from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. DA Davidson reiterated a “buy” rating and issued a $323.00 price objective on shares of Standex International in a research note on Monday, May 4th. Finally, Weiss Ratings downgraded shares of Standex International from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $289.67.

Standex International Stock Performance

Shares of SXI stock opened at $311.94 on Wednesday. The stock has a fifty day moving average price of $294.04 and a 200 day moving average price of $267.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.23 and a current ratio of 3.05. The stock has a market cap of $3.78 billion, a PE ratio of 38.00, a P/E/G ratio of 3.43 and a beta of 1.03. Standex International Corporation has a 1 year low of $152.64 and a 1 year high of $363.89.

Standex International (NYSE:SXI) last posted its earnings results on Wednesday, May 6th. The industrial products company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.01). Standex International had a net margin of 11.18% and a return on equity of 14.38%. The firm had revenue of $224.59 million during the quarter, compared to analyst estimates of $225.16 million. During the same period last year, the company posted $1.95 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Sell-side analysts forecast that Standex International Corporation will post 8.58 earnings per share for the current fiscal year.

Standex International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, May 8th. Standex International’s dividend payout ratio (DPR) is 16.57%.

Standex International Profile

Standex International Corporation is a diversified global manufacturer specializing in food service equipment, engineered components, and industrial products. Operating across multiple markets, the company designs and produces commercial cooking and warming solutions, precision-engraved nameplates and decorative products, fluid power hydraulics, and magnetics-based electronics. These offerings serve a broad array of end markets, including quick-service restaurants, automotive, aerospace, medical devices, and consumer appliances.

With business organized into key segments—Food Service Equipment, Engraving & Decorating, Hydraulics, Industrial Electronics, and Technical Graphical Solutions—Standex delivers a combination of proprietary technology, automated manufacturing processes, and custom engineering services.