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

NewEdge Advisors LLC increased its position in shares of Standex International Corporation (NYSE:SXI) by 2,963.3% during the first quarter, Holdings Channel.com reports. The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of Standex International by 110.7% in the 1st quarter. Royal Bank of Canada now owns 45,010 shares of the industrial products company’s stock valued at $7,263,000 after acquiring an additional 23,643 shares during the period. AQR Capital Management LLC lifted its stake in Standex International by 13.7% in the 1st quarter. AQR Capital Management LLC now owns 5,273 shares of the industrial products company’s stock valued at $851,000 after purchasing an additional 634 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Standex International by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,928 shares of the industrial products company’s stock valued at $1,118,000 after purchasing an additional 308 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Standex International by 3.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 40,112 shares of the industrial products company’s stock worth $6,474,000 after purchasing an additional 1,509 shares during the period. Finally, Jane Street Group LLC grew its holdings in Standex International by 902.1% during the first quarter. Jane Street Group LLC now owns 36,676 shares of the industrial products company’s stock worth $5,919,000 after purchasing an additional 33,016 shares during the period. 90.35% of the stock is owned by institutional investors.

Standex International Stock Down 2.3%

Shares of SXI opened at $313.36 on Thursday. Standex International Corporation has a 52 week low of $197.00 and a 52 week high of $363.89. The firm has a market cap of $3.80 billion, a P/E ratio of 36.14, a price-to-earnings-growth ratio of 3.58 and a beta of 1.06. The firm’s 50-day simple moving average is $316.71 and its 200 day simple moving average is $281.65. 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 (NYSE:SXI) last released its quarterly earnings results on Friday, July 31st. 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 firm had revenue of $228.25 million for the quarter, compared to analysts’ expectations of $226.47 million. During the same period in the prior year, the firm earned $2.28 EPS. The business’s revenue was up 2.8% on a year-over-year basis. On average, analysts forecast that Standex International Corporation will post 9.96 earnings per share for the current year.

Standex International Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SXI. DA Davidson set a $350.00 price target on Standex International in a research report on Tuesday, August 4th. Zacks Research upgraded Standex International from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Weiss Ratings lowered Standex International from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.