Standex Int’l Corp. (SXI) Position Boosted by First Trust Advisors LP
First Trust Advisors LP lifted its holdings in Standex Int’l Corp. (NYSE:SXI) by 507.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 12,516 shares of the industrial products company’s stock after purchasing an additional 10,454 shares during the quarter. First Trust Advisors LP’s holdings in Standex Int’l were worth $1,305,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in SXI. Ramsey Quantitative Systems boosted its holdings in Standex Int’l by 158.4% in the 3rd quarter. Ramsey Quantitative Systems now owns 3,197 shares of the industrial products company’s stock worth $333,000 after buying an additional 1,960 shares during the last quarter. United Services Automobile Association acquired a new stake in Standex Int’l in the 2nd quarter worth about $210,000. Moody Aldrich Partners LLC boosted its holdings in Standex Int’l by 74.8% in the 2nd quarter. Moody Aldrich Partners LLC now owns 41,274 shares of the industrial products company’s stock worth $4,218,000 after buying an additional 17,660 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Standex Int’l by 11.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 201,881 shares of the industrial products company’s stock worth $20,632,000 after buying an additional 21,541 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Standex Int’l by 233.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 10,794 shares of the industrial products company’s stock worth $255,000 after buying an additional 7,554 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.
Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Standex Int’l from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a report on Tuesday, August 28th. TheStreet cut Standex Int’l from a “b” rating to a “c+” rating in a report on Monday, October 29th. William Blair reiterated a “market perform” rating on shares of Standex Int’l in a report on Tuesday. Finally, ValuEngine cut Standex Int’l from a “hold” rating to a “sell” rating in a report on Monday, October 29th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. Standex Int’l presently has a consensus rating of “Hold” and an average price target of $106.50.
SXI stock opened at $73.51 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.97 and a current ratio of 2.74. Standex Int’l Corp. has a 12-month low of $71.54 and a 12-month high of $114.20. The stock has a market capitalization of $952.80 million, a P/E ratio of 14.22 and a beta of 1.68.
Standex Int’l (NYSE:SXI) last issued its earnings results on Monday, October 29th. The industrial products company reported $1.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by ($0.22). The company had revenue of $193.08 million for the quarter, compared to analyst estimates of $226.20 million. Standex Int’l had a return on equity of 14.52% and a net margin of 4.54%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 earnings per share. As a group, analysts expect that Standex Int’l Corp. will post 5.35 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 27th. Stockholders of record on Thursday, November 8th were issued a dividend of $0.20 per share. This is a boost from Standex Int’l’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Wednesday, November 7th. Standex Int’l’s payout ratio is currently 15.47%.
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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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