Standex International Corporation (SXI) Position Lowered by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. decreased its stake in shares of Standex International Corporation (NYSE:SXI) by 3.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,358 shares of the industrial products company’s stock after selling 173 shares during the period. PNC Financial Services Group Inc.’s holdings in Standex International Corporation were worth $536,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Ameritas Investment Partners Inc. purchased a new position in shares of Standex International Corporation during the first quarter valued at approximately $110,000. State of Alaska Department of Revenue increased its position in shares of Standex International Corporation by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 1,410 shares of the industrial products company’s stock valued at $141,000 after buying an additional 30 shares in the last quarter. Diversified Trust Co bought a new stake in Standex International Corporation during the first quarter worth $210,000. UBS Asset Management Americas Inc. bought a new stake in Standex International Corporation during the first quarter worth $225,000. Finally, Karp Capital Management Corp bought a new stake in Standex International Corporation during the first quarter worth $242,000. Institutional investors and hedge funds own 89.67% of the company’s stock.
Shares of Standex International Corporation (SXI) traded up 1.46% during mid-day trading on Friday, hitting $93.95. 30,499 shares of the company traded hands. The firm’s 50 day moving average price is $92.19 and its 200-day moving average price is $92.62. Standex International Corporation has a 1-year low of $74.35 and a 1-year high of $101.24. The stock has a market capitalization of $1.20 billion, a PE ratio of 27.18 and a beta of 1.54.
Standex International Corporation (NYSE:SXI) last announced its earnings results on Tuesday, May 2nd. The industrial products company reported $0.98 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by $0.12. Standex International Corporation had a net margin of 6.01% and a return on equity of 14.88%. The firm had revenue of $184.72 million during the quarter, compared to analysts’ expectations of $177.30 million. During the same period in the prior year, the company posted $0.93 EPS. On average, equities research analysts forecast that Standex International Corporation will post $4.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Monday, August 7th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, August 3rd. Standex International Corporation’s dividend payout ratio is currently 18.60%.
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A number of analysts have weighed in on SXI shares. Sidoti raised shares of Standex International Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $103.00 to $115.00 in a research note on Friday, May 19th. Zacks Investment Research cut shares of Standex International Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. BidaskClub raised shares of Standex International Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, FBR & Co reissued a “buy” rating on shares of Standex International Corporation in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $108.50.
About Standex International Corporation
Standex International Corporation is a diversified manufacturing company. The Company is a manufacturer of a range of products and services for diverse commercial and industrial market segments. The Company has 11 operating segments, aggregated and organized into five segments: Food Service Equipment, Engraving, Engineering Technologies, Electronics and Hydraulics.
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