Wasatch Advisors LP Trims Stock Holdings in Standex International Corporation $SXI

Wasatch Advisors LP lessened its position in Standex International Corporation (NYSE:SXI) by 35.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 846,255 shares of the industrial products company’s stock after selling 470,971 shares during the period. Standex International accounts for about 2.0% of Wasatch Advisors LP’s portfolio, making the stock its 7th biggest holding. Wasatch Advisors LP owned about 6.99% of Standex International worth $302,680,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its holdings in Standex International by 538.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 55,544 shares of the industrial products company’s stock worth $12,069,000 after acquiring an additional 46,838 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Standex International by 26.5% during the first quarter. California State Teachers Retirement System now owns 14,604 shares of the industrial products company’s stock valued at $3,722,000 after acquiring an additional 3,059 shares during the last quarter. UBS Group AG raised its stake in shares of Standex International by 66.8% during the fourth quarter. UBS Group AG now owns 91,443 shares of the industrial products company’s stock valued at $19,869,000 after acquiring an additional 36,634 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Standex International by 9,509.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,207 shares of the industrial products company’s stock worth $1,566,000 after purchasing an additional 7,132 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Standex International in the fourth quarter worth $2,843,000. 90.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Weiss Ratings lowered Standex International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. DA Davidson set a $350.00 price target on Standex International in a research report on Tuesday, August 4th. Finally, Zacks Research raised Standex International from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $298.67.

Standex International Price Performance

Shares of NYSE SXI opened at $327.36 on Wednesday. Standex International Corporation has a twelve month low of $188.68 and a twelve month high of $363.89. The firm has a fifty day simple moving average of $312.86 and a 200 day simple moving average of $278.26. The company has a market capitalization of $3.97 billion, a PE ratio of 37.76, a P/E/G ratio of 3.66 and a beta of 1.06. The company has a quick ratio of 1.84, a current ratio of 2.40 and a debt-to-equity ratio of 0.69.

Standex International (NYSE:SXI) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.10. Standex International had a net margin of 11.73% and a return on equity of 14.47%. The business had revenue of $228.25 million for the quarter, compared to analysts’ expectations of $226.47 million. During the same quarter in the prior year, the firm posted $2.28 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts forecast that Standex International Corporation will post 9.96 EPS for the current year.

Standex International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, August 7th. Standex International’s payout ratio is currently 15.69%.

Standex International Profile

Standex International Corporation is a diversified global manufacturer specializing in food service equipment, engineered components, and industrial products. Operating across multiple markets, the company designs and produces commercial cooking and warming solutions, precision-engraved nameplates and decorative products, fluid power hydraulics, and magnetics-based electronics. These offerings serve a broad array of end markets, including quick-service restaurants, automotive, aerospace, medical devices, and consumer appliances.

With business organized into key segments—Food Service Equipment, Engraving & Decorating, Hydraulics, Industrial Electronics, and Technical Graphical Solutions—Standex delivers a combination of proprietary technology, automated manufacturing processes, and custom engineering services.