BlackRock Inc. Has $160.10 Million Holdings in Standex International (SXI)
BlackRock Inc. boosted its stake in shares of Standex International (NYSE:SXI) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,571,867 shares of the industrial products company’s stock after buying an additional 35,728 shares during the period. BlackRock Inc. owned 12.25% of Standex International worth $160,096,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Wedge Capital Management L L P NC lifted its holdings in Standex International by 5.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 418,429 shares of the industrial products company’s stock worth $42,617,000 after buying an additional 20,261 shares during the period. Janus Henderson Group PLC lifted its holdings in Standex International by 14.5% during the third quarter. Janus Henderson Group PLC now owns 330,831 shares of the industrial products company’s stock worth $35,134,000 after buying an additional 42,009 shares during the period. Bank of New York Mellon Corp lifted its holdings in Standex International by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 178,522 shares of the industrial products company’s stock worth $18,183,000 after buying an additional 2,032 shares during the period. Ameriprise Financial Inc. lifted its holdings in Standex International by 0.7% during the third quarter. Ameriprise Financial Inc. now owns 153,763 shares of the industrial products company’s stock worth $16,330,000 after buying an additional 1,001 shares during the period. Finally, Copeland Capital Management LLC lifted its holdings in Standex International by 24.2% during the fourth quarter. Copeland Capital Management LLC now owns 150,355 shares of the industrial products company’s stock worth $15,314,000 after buying an additional 29,304 shares during the period. Institutional investors own 87.91% of the company’s stock.
In other news, Director Charles H. Cannon, Jr. sold 5,014 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $98.75, for a total transaction of $495,132.50. Following the completion of the sale, the director now owns 21,360 shares in the company, valued at approximately $2,109,300. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.
Standex International (NYSE:SXI) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.03 by $0.09. Standex International had a return on equity of 14.98% and a net margin of 3.99%. The firm had revenue of $209.75 million during the quarter, compared to analyst estimates of $197.38 million. During the same quarter in the prior year, the business posted $1.03 EPS. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. sell-side analysts expect that Standex International will post 5.28 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $0.72 annualized dividend and a dividend yield of 0.70%. Standex International’s dividend payout ratio is presently 27.80%.
A number of research firms have weighed in on SXI. CL King began coverage on Standex International in a report on Wednesday, November 29th. They set a “buy” rating and a $116.00 target price for the company. B. Riley restated a “buy” rating and set a $125.00 target price on shares of Standex International in a report on Wednesday, January 31st. ValuEngine upgraded Standex International from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, TheStreet lowered Standex International from a “b-” rating to a “c+” rating in a report on Monday, February 12th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $114.50.
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Standex International Profile
Standex International Corporation manufactures and sells various products and services for commercial and industrial markets in the United States and internationally. The company's Food Service Equipment segment offers refrigerated cabinets, cases, display units, coolers and freezers, ovens, char broilers, ranges, griddles, toasters, warmers, roller grills, countertop merchandisers, cook and hold units, rotisseries, pressure fryers, deep fryers, baking equipment, pump systems, and display cases.
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