First Manhattan Co. increased its stake in Standex Int’l Corp. (NYSE:SXI) by 1,151.0% in the first quarter, HoldingsChannel.com reports. The firm owned 44,725 shares of the industrial products company’s stock after purchasing an additional 41,150 shares during the quarter. First Manhattan Co.’s holdings in Standex Int’l were worth $3,282,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisor Group Inc. boosted its stake in Standex Int’l by 32.5% in the 4th quarter. Advisor Group Inc. now owns 689 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 169 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Standex Int’l by 40.3% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,456 shares of the industrial products company’s stock worth $97,000 after buying an additional 418 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Standex Int’l by 29.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,225 shares of the industrial products company’s stock worth $336,000 after buying an additional 729 shares in the last quarter. Ramsey Quantitative Systems lifted its position in Standex Int’l by 9.8% during the 4th quarter. Ramsey Quantitative Systems now owns 3,510 shares of the industrial products company’s stock worth $236,000 after buying an additional 313 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Standex Int’l during the 4th quarter worth about $249,000. 88.77% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:SXI opened at $74.40 on Tuesday. The company has a current ratio of 2.76, a quick ratio of 2.00 and a debt-to-equity ratio of 0.69. Standex Int’l Corp. has a one year low of $62.02 and a one year high of $114.20. The stock has a market cap of $949.87 million, a price-to-earnings ratio of 14.39 and a beta of 1.68.
Standex Int’l (NYSE:SXI) last issued its quarterly earnings results on Wednesday, January 30th. The industrial products company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.23). Standex Int’l had a return on equity of 13.88% and a net margin of 6.56%. The business had revenue of $195.50 million for the quarter, compared to the consensus estimate of $197.38 million. During the same period last year, the firm earned $1.12 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts forecast that Standex Int’l Corp. will post 5.05 EPS for the current fiscal year.
Separately, Zacks Investment Research raised shares of Standex Int’l from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $106.50.
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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