Standex International (NYSE:SXI) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Standex International (NYSE:SXI) from a buy rating to a hold rating in a report issued on Tuesday.

SXI has been the topic of several other reports. DA Davidson raised their price objective on shares of Standex International from $203.00 to $211.00 and gave the stock a buy rating in a research report on Monday, August 5th. Barrington Research restated an outperform rating and set a $180.00 price target on shares of Standex International in a research note on Tuesday, May 28th. Finally, Benchmark reissued a buy rating and issued a $210.00 price objective on shares of Standex International in a research note on Friday, August 2nd.

Standex International Stock Down 0.5 %

Standex International stock traded down $0.83 during mid-day trading on Tuesday, hitting $167.90. The company had a trading volume of 62,810 shares, compared to its average volume of 62,752. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 2.41 and a beta of 1.04. The company has a quick ratio of 2.69, a current ratio of 3.37 and a debt-to-equity ratio of 0.24. Standex International has a 1 year low of $130.04 and a 1 year high of $191.18. The business has a fifty day moving average of $169.50 and a 200 day moving average of $169.15.

Standex International (NYSE:SXI) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.04. Standex International had a net margin of 10.14% and a return on equity of 13.60%. The firm had revenue of $180.19 million during the quarter, compared to analysts’ expectations of $181.35 million. During the same period in the previous year, the company earned $1.76 earnings per share. Standex International’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, sell-side analysts expect that Standex International will post 7.84 earnings per share for the current fiscal year.

Standex International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.71%. The ex-dividend date is Friday, August 9th. Standex International’s payout ratio is currently 19.42%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SXI. Vanguard Group Inc. boosted its stake in shares of Standex International by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 1,415,927 shares of the industrial products company’s stock valued at $224,255,000 after acquiring an additional 9,166 shares during the last quarter. Champlain Investment Partners LLC boosted its position in Standex International by 4.6% during the first quarter. Champlain Investment Partners LLC now owns 637,162 shares of the industrial products company’s stock worth $116,104,000 after acquiring an additional 27,990 shares during the last quarter. Wasatch Advisors LP purchased a new stake in Standex International in the 1st quarter worth approximately $52,565,000. Goldman Sachs Group Inc. raised its holdings in Standex International by 6.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 188,380 shares of the industrial products company’s stock valued at $29,836,000 after acquiring an additional 10,670 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Standex International by 3.4% during the 4th quarter. Handelsbanken Fonder AB now owns 152,700 shares of the industrial products company’s stock worth $24,185,000 after purchasing an additional 5,000 shares during the period. 90.35% of the stock is owned by hedge funds and other institutional investors.

About Standex International

Standex International Corporation, together with subsidiaries, engages in the manufacture and sale of various products and services for commercial and industrial markets in the United States and internationally. It operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.