Metropolitan Life Insurance Co. NY lowered its stake in Standex International (NYSE:SXI) by 54.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,007 shares of the industrial products company’s stock after selling 4,860 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Standex International were worth $408,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in SXI. SG Americas Securities LLC bought a new position in Standex International in the third quarter valued at approximately $199,000. GSA Capital Partners LLP bought a new position in Standex International in the third quarter valued at approximately $214,000. Two Sigma Advisers LP bought a new position in Standex International in the fourth quarter valued at approximately $281,000. Cutler Group LP lifted its stake in Standex International by 34.6% in the fourth quarter. Cutler Group LP now owns 2,787 shares of the industrial products company’s stock valued at $283,000 after buying an additional 717 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in Standex International in the fourth quarter valued at approximately $448,000. 87.91% of the stock is currently owned by hedge funds and other institutional investors.
NYSE SXI opened at $98.65 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.54 and a current ratio of 2.34. Standex International has a 12-month low of $84.30 and a 12-month high of $110.00. The company has a market capitalization of $1,250.88, a PE ratio of 21.68 and a beta of 1.54.
Standex International (NYSE:SXI) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.09. Standex International had a net margin of 3.99% and a return on equity of 14.98%. The company had revenue of $209.75 million for the quarter, compared to the consensus estimate of $197.38 million. During the same period last year, the company earned $1.03 earnings per share. The firm’s revenue was up 20.6% compared to the same quarter last year. analysts predict that Standex International will post 5.29 EPS for the current fiscal year.
In other news, CEO David A. Dunbar sold 4,000 shares of Standex International stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $101.43, for a total value of $405,720.00. Following the sale, the chief executive officer now directly owns 54,164 shares in the company, valued at $5,493,854.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Cannon, Jr. sold 5,014 shares of Standex International stock in a transaction that occurred on Wednesday, March 7th. The shares were 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 $2,109,300. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
A number of research analysts have weighed in on the stock. Sidoti raised shares of Standex International from a “neutral” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research raised shares of Standex International from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a research note on Saturday, March 31st. William Blair assumed coverage on shares of Standex International in a research note on Monday, April 9th. They issued a “market perform” rating on the stock. ValuEngine lowered shares of Standex International from a “buy” rating to a “hold” rating in a research note on Wednesday, March 28th. Finally, TheStreet lowered shares of Standex International from a “b-” rating to a “c+” rating in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Standex International currently has a consensus rating of “Hold” and an average target price of $115.50.
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Standex International Company 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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