Wasatch Advisors LP Cuts Position in Standex International Corporation $SXI

Wasatch Advisors LP decreased its stake in shares of Standex International Corporation (NYSE:SXI) by 35.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 846,255 shares of the industrial products company’s stock after selling 470,971 shares during the period. Standex International accounts for about 2.0% of Wasatch Advisors LP’s investment portfolio, making the stock its 7th biggest holding. Wasatch Advisors LP owned approximately 0.07% of Standex International worth $302,680,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Cornerstone Planning Group LLC lifted its position in shares of Standex International by 144.7% during the 4th quarter. Cornerstone Planning Group LLC now owns 115 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 68 shares during the period. UMB Bank n.a. grew its holdings 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 purchasing an additional 73 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in Standex International in the third quarter worth $28,000. Cedar Mountain Advisors LLC acquired a new stake in Standex International in the first quarter worth $29,000. Finally, Simplex Trading LLC bought a new stake in Standex International in the fourth quarter valued at $35,000. Institutional investors own 90.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SXI. DA Davidson set a $350.00 price objective on shares of Standex International in a report on Tuesday, August 4th. Weiss Ratings downgraded Standex International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. Finally, Zacks Research raised Standex International from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $298.67.

Standex International Stock Performance

NYSE SXI opened at $327.36 on Wednesday. The company has a fifty day simple moving average of $312.86 and a 200 day simple moving average of $278.26. Standex International Corporation has a 12-month low of $188.68 and a 12-month high of $363.89. The company has a current ratio of 2.40, a quick ratio of 1.84 and a debt-to-equity ratio of 0.69. The company has a market cap of $3.97 billion, a P/E ratio of 37.76, a PEG ratio of 3.66 and a beta of 1.06.

Standex International (NYSE:SXI) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.10. Standex International had a net margin of 11.73% and a return on equity of 14.47%. The firm had revenue of $228.25 million for the quarter, compared to the consensus estimate of $226.47 million. During the same quarter in the prior year, the company posted $2.28 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. Sell-side analysts predict that Standex International Corporation will post 9.96 earnings per share for the current fiscal year.

Standex International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.4%. Standex International’s payout ratio is presently 15.69%.

Standex International Company 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.