Renaissance Technologies LLC lowered its position in Standex Int’l Corp. (NYSE:SXI) by 77.6% in the second quarter, HoldingsChannel.com reports. The firm owned 7,200 shares of the industrial products company’s stock after selling 24,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Standex Int’l were worth $736,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in SXI. Ramsey Quantitative Systems lifted its position in shares of Standex Int’l by 135.6% during the 2nd quarter. Ramsey Quantitative Systems now owns 1,237 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 712 shares during the period. Amalgamated Bank purchased a new position in shares of Standex Int’l during the 2nd quarter worth approximately $208,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Standex Int’l during the 2nd quarter worth approximately $277,000. SG Americas Securities LLC increased its stake in shares of Standex Int’l by 185.8% during the 2nd quarter. SG Americas Securities LLC now owns 3,684 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 2,395 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new position in shares of Standex Int’l during the 2nd quarter worth approximately $480,000. Hedge funds and other institutional investors own 86.82% of the company’s stock.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Standex Int’l from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a research note on Tuesday, August 28th. TheStreet cut shares of Standex Int’l from a “b” rating to a “c+” rating in a research note on Monday, October 29th. Finally, ValuEngine cut shares of Standex Int’l from a “hold” rating to a “sell” rating in a research note on Monday, October 29th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Standex Int’l currently has a consensus rating of “Hold” and an average price target of $109.67.
Shares of SXI opened at $81.01 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.74 and a quick ratio of 1.59. Standex Int’l Corp. has a 1-year low of $76.00 and a 1-year high of $114.20. The company has a market cap of $1.04 billion, a PE ratio of 15.67 and a beta of 1.66.
Standex Int’l (NYSE:SXI) last issued its quarterly earnings data on Monday, October 29th. The industrial products company reported $1.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.43 by ($0.22). Standex Int’l had a return on equity of 14.52% and a net margin of 4.54%. The business had revenue of $193.08 million for the quarter, compared to analysts’ expectations of $226.20 million. During the same period last year, the business earned $1.23 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that Standex Int’l Corp. will post 5.6 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Thursday, November 8th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from Standex Int’l’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Wednesday, November 7th. Standex Int’l’s dividend payout ratio (DPR) is 13.93%.
In other news, VP Thomas D. Debyle sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $110.10, for a total transaction of $220,200.00. Following the completion of the transaction, the vice president now directly owns 65,343 shares of the company’s stock, 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 1.64% of the company’s stock.
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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