Comerica Bank reduced its stake in shares of Standex Int’l Corp. (NYSE:SXI) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,547 shares of the industrial products company’s stock after selling 774 shares during the quarter. Comerica Bank owned 0.64% of Standex Int’l worth $8,130,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Ramsey Quantitative Systems grew its position in Standex Int’l by 135.6% during the second quarter. Ramsey Quantitative Systems now owns 1,237 shares of the industrial products company’s stock worth $126,000 after buying an additional 712 shares during the period. Amalgamated Bank acquired a new position in Standex Int’l during the second quarter worth about $208,000. United Services Automobile Association acquired a new position in Standex Int’l during the second quarter worth about $210,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Standex Int’l during the second quarter worth about $277,000. Finally, SG Americas Securities LLC grew its position in Standex Int’l by 185.8% during the second quarter. SG Americas Securities LLC now owns 3,684 shares of the industrial products company’s stock worth $377,000 after buying an additional 2,395 shares during the period. Institutional investors own 87.31% of the company’s stock.
In other Standex Int’l news, VP Thomas D. Debyle sold 2,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $7,194,264.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.64% of the stock is owned by corporate insiders.
Several brokerages have weighed in on SXI. Zacks Investment Research lowered shares of Standex Int’l from a “buy” rating to a “strong sell” rating in a research report on Friday, November 2nd. ValuEngine lowered shares of Standex Int’l from a “hold” rating to a “sell” rating in a research report on Monday, October 29th. Finally, TheStreet lowered shares of Standex Int’l from a “b” rating to a “c+” rating in a research report on Monday, October 29th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $109.67.
Shares of NYSE SXI opened at $79.41 on Friday. Standex Int’l Corp. has a 12-month low of $76.00 and a 12-month high of $114.20. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 15.36 and a beta of 1.66. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 0.65.
Standex Int’l (NYSE:SXI) last announced its quarterly earnings results on Monday, October 29th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.22). Standex Int’l had a net margin of 4.54% and a return on equity of 14.52%. The business had revenue of $193.08 million during the quarter, compared to analysts’ expectations of $226.20 million. During the same period last year, the company earned $1.23 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts predict that Standex Int’l Corp. will post 5.6 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Thursday, November 8th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Wednesday, November 7th. This is an increase from Standex Int’l’s previous quarterly dividend of $0.18. Standex Int’l’s dividend payout ratio is 15.47%.
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Standex Int’l Company 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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