Zacks Investment Research upgraded shares of Standex Int’l (NYSE:SXI) from a sell rating to a hold rating in a report published on Friday morning.
According to Zacks, “Standex International Corp. is a diversified manufacturer producing and marketing a wide variety of useful, quality products. The company enjoys a broad and well-balanced earnings base by virtue of its strong market position in selected areas of operation. (PRESS RELEASE) “
Standex Int’l stock opened at $106.67 on Friday. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.43. Standex Int’l has a 1-year low of $89.40 and a 1-year high of $114.20. The company has a market capitalization of $1.34 billion, a P/E ratio of 20.63 and a beta of 1.45.
Standex Int’l (NYSE:SXI) last posted its quarterly earnings results on Tuesday, August 28th. The industrial products company reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.01. Standex Int’l had a return on equity of 15.19% and a net margin of 4.21%. The firm had revenue of $227.51 million for the quarter, compared to the consensus estimate of $232.73 million. During the same period in the previous year, the business earned $1.40 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities analysts anticipate that Standex Int’l will post 6 earnings per share for the current fiscal year.
In related news, VP Thomas D. Debyle sold 2,000 shares of Standex Int’l stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $110.10, for a total value of $220,200.00. Following the sale, the vice president now directly owns 65,343 shares in the company, valued at $7,194,264.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.64% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of SXI. BlackRock Inc. raised its holdings in Standex Int’l by 10.2% during the second quarter. BlackRock Inc. now owns 1,847,731 shares of the industrial products company’s stock worth $188,837,000 after purchasing an additional 170,292 shares during the last quarter. Royal Bank of Canada raised its holdings in Standex Int’l by 15.9% during the first quarter. Royal Bank of Canada now owns 275,472 shares of the industrial products company’s stock worth $26,266,000 after purchasing an additional 37,890 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Standex Int’l by 11.9% during the second quarter. Bank of New York Mellon Corp now owns 201,881 shares of the industrial products company’s stock worth $20,632,000 after purchasing an additional 21,541 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Standex Int’l by 4.8% during the second quarter. Janus Henderson Group PLC now owns 443,262 shares of the industrial products company’s stock worth $45,301,000 after purchasing an additional 20,373 shares during the last quarter. Finally, Moody Aldrich Partners LLC raised its holdings in shares of Standex Int’l by 74.8% in the second quarter. Moody Aldrich Partners LLC now owns 41,274 shares of the industrial products company’s stock worth $4,218,000 after acquiring an additional 17,660 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.
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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