Bank of New York Mellon Corp lifted its holdings in shares of Standex Int’l Corp. (NYSE:SXI) by 11.9% during the second quarter, HoldingsChannel.com reports. The firm owned 201,881 shares of the industrial products company’s stock after acquiring an additional 21,541 shares during the quarter. Bank of New York Mellon Corp’s holdings in Standex Int’l were worth $20,632,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in Standex Int’l by 1.8% in the 2nd quarter. Rhumbline Advisers now owns 36,394 shares of the industrial products company’s stock valued at $3,719,000 after acquiring an additional 630 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Standex Int’l in the 2nd quarter valued at $480,000. Sei Investments Co. raised its holdings in Standex Int’l by 30.0% in the 2nd quarter. Sei Investments Co. now owns 9,043 shares of the industrial products company’s stock valued at $925,000 after acquiring an additional 2,085 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Standex Int’l in the 2nd quarter valued at $277,000. Finally, Algert Global LLC acquired a new position in Standex Int’l in the 2nd quarter valued at $772,000. 87.07% of the stock is currently owned by institutional investors.
In other news, VP Thomas D. Debyle sold 2,000 shares of Standex Int’l stock in a transaction on Monday, September 10th. The stock was sold at an average price of $110.10, for a total value of $220,200.00. Following the transaction, the vice president now owns 65,343 shares in the company, valued at approximately $7,194,264.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.
Shares of SXI opened at $109.30 on Friday. Standex Int’l Corp. has a 52-week low of $89.40 and a 52-week high of $114.20. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.59 and a current ratio of 2.38. The firm has a market capitalization of $1.41 billion, a PE ratio of 21.14 and a beta of 1.47.
Standex Int’l (NYSE:SXI) last issued its quarterly earnings results on Tuesday, August 28th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.01. Standex Int’l had a return on equity of 15.19% and a net margin of 4.21%. The company had revenue of $227.51 million for the quarter, compared to analyst estimates of $232.73 million. During the same quarter last year, the company posted $1.40 EPS. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. equities research analysts expect that Standex Int’l Corp. will post 5.99 earnings per share 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 paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, August 8th. This represents a $0.72 annualized dividend and a dividend yield of 0.66%. Standex Int’l’s payout ratio is 13.93%.
Several brokerages have weighed in on SXI. Zacks Investment Research raised Standex Int’l from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. B. Riley set a $125.00 price objective on Standex Int’l and gave the company a “buy” rating in a report on Monday, May 21st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $122.33.
About Standex Int’l
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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