Arizona State Retirement System lessened its stake in Standex Int’l Corp. (NYSE:SXI) by 7.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,662 shares of the industrial products company’s stock after selling 1,531 shares during the quarter. Arizona State Retirement System owned approximately 0.15% of Standex Int’l worth $1,907,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Dupont Capital Management Corp acquired a new position in shares of Standex Int’l during the 1st quarter valued at about $337,000. SG Americas Securities LLC acquired a new stake in Standex Int’l in the first quarter worth $123,000. Prudential Financial Inc. increased its position in Standex Int’l by 23.4% in the first quarter. Prudential Financial Inc. now owns 33,752 shares of the industrial products company’s stock worth $3,218,000 after buying an additional 6,400 shares during the period. Swiss National Bank increased its position in Standex Int’l by 4.7% in the first quarter. Swiss National Bank now owns 22,200 shares of the industrial products company’s stock worth $2,117,000 after buying an additional 1,000 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Standex Int’l by 1.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 91,551 shares of the industrial products company’s stock worth $8,730,000 after buying an additional 1,371 shares during the period. 87.06% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on SXI shares. ValuEngine raised Standex Int’l from a “sell” rating to a “hold” rating in a research report on Thursday, May 17th. B. Riley set a $125.00 target price on Standex Int’l and gave the stock a “buy” rating in a research report on Monday, May 21st. Finally, Zacks Investment Research lowered Standex Int’l from a “buy” rating to a “hold” rating in a research report on Saturday, September 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $122.33.
Shares of SXI opened at $109.10 on Friday. The firm has a market cap of $1.41 billion, a PE ratio of 21.10 and a beta of 1.47. The company has a current ratio of 2.38, a quick ratio of 1.61 and a debt-to-equity ratio of 0.43. Standex Int’l Corp. has a one year low of $89.40 and a one year high of $114.20.
Standex Int’l (NYSE:SXI) last issued its quarterly earnings results on Tuesday, August 28th. The industrial products company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.01. The company had revenue of $227.51 million for the quarter, compared to analyst estimates of $232.73 million. Standex Int’l had a return on equity of 15.19% and a net margin of 4.21%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $1.40 earnings per share. sell-side analysts anticipate that Standex Int’l Corp. will post 5.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 24th. Stockholders of record on Thursday, August 9th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Wednesday, August 8th. Standex Int’l’s dividend payout ratio (DPR) is 13.93%.
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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