NewEdge Advisors LLC Buys 2,667 Shares of Standex International Corporation $SXI

NewEdge Advisors LLC lifted its position in Standex International Corporation (NYSE:SXI) by 2,963.3% during the first quarter, HoldingsChannel.com reports. The fund owned 2,757 shares of the industrial products company’s stock after purchasing an additional 2,667 shares during the period. NewEdge Advisors LLC’s holdings in Standex International were worth $703,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Cornerstone Planning Group LLC grew its holdings in Standex International by 144.7% during the fourth quarter. Cornerstone Planning Group LLC now owns 115 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 68 shares during the period. UMB Bank n.a. raised its holdings in Standex International by 132.7% in the fourth quarter. UMB Bank n.a. now owns 128 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 73 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in Standex International in the third quarter worth $28,000. Cedar Mountain Advisors LLC bought a new position in shares of Standex International during the first quarter worth $29,000. Finally, Simplex Trading LLC bought a new position in shares of Standex International during the fourth quarter worth $35,000. Institutional investors own 90.35% of the company’s stock.

Wall Street Analysts Forecast Growth

SXI has been the subject of several research analyst reports. DA Davidson reissued a “buy” rating and issued a $323.00 price target on shares of Standex International in a report on Monday, May 4th. Zacks Research raised Standex International from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Weiss Ratings upgraded Standex International from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 16th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $289.67.

Standex International Stock Performance

Shares of SXI stock opened at $296.48 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.84 and a current ratio of 2.40. Standex International Corporation has a 52 week low of $163.29 and a 52 week high of $363.89. The company’s 50 day moving average price is $305.52 and its two-hundred day moving average price is $274.30. The company has a market capitalization of $3.59 billion, a P/E ratio of 34.20, a price-to-earnings-growth ratio of 3.31 and a beta of 1.03.

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

Standex International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, August 7th. Standex International’s payout ratio is currently 15.69%.

About Standex International

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.