Handelsbanken Fonder AB Sells 49,979 Shares of Standex International Corporation $SXI

Handelsbanken Fonder AB reduced its holdings in shares of Standex International Corporation (NYSE:SXI) by 58.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 35,121 shares of the industrial products company’s stock after selling 49,979 shares during the period. Handelsbanken Fonder AB’s holdings in Standex International were worth $12,562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted 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 in the last quarter. UMB Bank n.a. boosted its stake in Standex International by 132.7% in the 4th quarter. UMB Bank n.a. now owns 128 shares of the industrial products company’s stock valued at $28,000 after buying an additional 73 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in Standex International during the third quarter worth $28,000. Cedar Mountain Advisors LLC bought a new position in shares of Standex International during the first quarter valued at $29,000. Finally, Simplex Trading LLC acquired a new stake in shares of Standex International in the 4th quarter valued at $35,000. Institutional investors own 90.35% of the company’s stock.

Standex International Stock Performance

Standex International stock opened at $328.29 on Friday. The stock has a 50-day simple moving average of $314.29 and a 200 day simple moving average of $279.46. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 37.86, a P/E/G ratio of 3.69 and a beta of 1.06. The company has a quick ratio of 1.84, a current ratio of 2.40 and a debt-to-equity ratio of 0.69. Standex International Corporation has a 12-month low of $197.00 and a 12-month high of $363.89.

Standex International (NYSE:SXI) last issued its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.10. Standex International had a net margin of 11.73% and a return on equity of 14.47%. The firm had revenue of $228.25 million for the quarter, compared to analyst estimates of $226.47 million. During the same quarter in the prior year, the firm earned $2.28 EPS. The company’s revenue was up 2.8% on a year-over-year basis. On average, research analysts anticipate that Standex International Corporation will post 9.96 earnings per share for the current fiscal year.

Standex International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, August 7th. Standex International’s dividend payout ratio is 15.69%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SXI shares. Zacks Research upgraded shares of Standex International from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. DA Davidson set a $350.00 price objective on shares of Standex International in a report on Tuesday, August 4th. Finally, Weiss Ratings downgraded Standex International from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Standex International currently has a consensus rating of “Moderate Buy” and an average target price of $298.67.

Standex International Profile

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.