Rhumbline Advisers Reduces Stock Position in Standex International Co. (NYSE:SXI)

Rhumbline Advisers cut its holdings in Standex International Co. (NYSE:SXI) by 0.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,663 shares of the industrial products company’s stock after selling 70 shares during the period. Rhumbline Advisers owned 0.30% of Standex International worth $5,586,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SXI. Wasatch Advisors LP purchased a new position in shares of Standex International in the first quarter valued at $52,565,000. Norges Bank purchased a new position in Standex International during the 4th quarter valued at about $12,560,000. Champlain Investment Partners LLC increased its position in shares of 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 valued at $116,104,000 after buying an additional 27,990 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Standex International in the first quarter worth about $4,647,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Standex International by 6.0% in the fourth 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 period. 90.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on SXI. Barrington Research reiterated an “outperform” rating and issued a $180.00 target price on shares of Standex International in a research note on Tuesday, May 28th. StockNews.com upgraded Standex International from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. DA Davidson boosted their target price on Standex International from $203.00 to $211.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Benchmark restated a “buy” rating and issued a $210.00 target price on shares of Standex International in a research note on Friday, August 2nd.

Standex International Stock Performance

Standex International stock opened at $171.90 on Friday. Standex International Co. has a fifty-two week low of $130.04 and a fifty-two week high of $191.18. The firm’s fifty day moving average price is $174.27 and its 200-day moving average price is $171.88. The stock has a market cap of $2.02 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 2.39 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.37.

Standex International (NYSE:SXI) last released 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 return on equity of 13.60% and a net margin of 10.14%. The business had revenue of $180.19 million for the quarter, compared to the consensus estimate of $181.35 million. During the same quarter last year, the business posted $1.76 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities research analysts expect that Standex International Co. will post 7.67 earnings per share for the current fiscal year.

Standex International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, August 9th. Standex International’s dividend payout ratio is currently 19.42%.

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.