Advisors Asset Management Inc. raised its stake in shares of Standex Int’l Corp. (NYSE:SXI) by 233.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,794 shares of the industrial products company’s stock after purchasing an additional 7,554 shares during the quarter. Advisors Asset Management Inc. owned about 0.08% of Standex Int’l worth $255,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in Standex Int’l by 11.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 201,881 shares of the industrial products company’s stock valued at $20,632,000 after purchasing an additional 21,541 shares in the last quarter. Tygh Capital Management Inc. increased its stake in Standex Int’l by 3.4% during the 2nd quarter. Tygh Capital Management Inc. now owns 92,580 shares of the industrial products company’s stock valued at $9,462,000 after purchasing an additional 3,025 shares in the last quarter. Amalgamated Bank acquired a new position in Standex Int’l during the 2nd quarter valued at approximately $208,000. Citadel Advisors LLC increased its stake in Standex Int’l by 21.8% during the 2nd quarter. Citadel Advisors LLC now owns 25,220 shares of the industrial products company’s stock valued at $2,578,000 after purchasing an additional 4,514 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Standex Int’l by 10.2% during the 2nd quarter. BlackRock Inc. now owns 1,847,731 shares of the industrial products company’s stock valued at $188,837,000 after purchasing an additional 170,292 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Standex Int’l from a “sell” rating to a “hold” rating in a research note on Friday, October 5th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Standex Int’l has a consensus rating of “Buy” and a consensus target price of $122.33.
In other news, VP Thomas D. Debyle sold 2,000 shares of the stock in a transaction on Monday, September 10th. The shares were sold at an average price of $110.10, for a total value of $220,200.00. Following the sale, the vice president now owns 65,343 shares in the company, valued at $7,194,264.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.64% of the stock is owned by corporate insiders.
NYSE:SXI opened at $98.49 on Friday. The firm has a market capitalization of $1.34 billion, a PE ratio of 19.31 and a beta of 1.45. Standex Int’l Corp. has a 1-year low of $89.40 and a 1-year high of $114.20. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.43.
Standex Int’l (NYSE:SXI) last released its quarterly earnings data on Tuesday, August 28th. The industrial products company reported $1.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.01. The firm had revenue of $227.51 million for the quarter, compared to analyst estimates of $232.73 million. Standex Int’l had a net margin of 4.21% and a return on equity of 15.19%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.40 earnings per share. Research analysts predict that Standex Int’l Corp. will post 6 EPS for the current fiscal year.
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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