Park Avenue Securities LLC Sells 192 Shares of Standex International Co. (NYSE:SXI)

Park Avenue Securities LLC lessened its stake in shares of Standex International Co. (NYSE:SXI) by 7.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,249 shares of the industrial products company’s stock after selling 192 shares during the period. Park Avenue Securities LLC’s holdings in Standex International were worth $411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wasatch Advisors LP bought a new stake in shares of Standex International during the first quarter valued at approximately $52,565,000. Lord Abbett & CO. LLC purchased a new position in Standex International during the first quarter valued at approximately $4,647,000. Harbor Capital Advisors Inc. increased its holdings in Standex International by 292.6% during the second quarter. Harbor Capital Advisors Inc. now owns 5,233 shares of the industrial products company’s stock valued at $843,000 after buying an additional 3,900 shares during the period. Boston Partners purchased a new position in Standex International during the first quarter valued at approximately $691,000. Finally, SG Americas Securities LLC purchased a new position in Standex International during the second quarter valued at approximately $743,000. Institutional investors own 90.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $210.00 price objective on shares of Standex International in a report on Friday, August 2nd. StockNews.com raised shares of Standex International from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Finally, DA Davidson lifted their price target on shares of Standex International from $203.00 to $211.00 and gave the stock a “buy” rating in a report on Monday, August 5th.

Standex International Price Performance

NYSE SXI opened at $175.76 on Friday. The firm’s fifty day simple moving average is $174.06 and its two-hundred day simple moving average is $172.12. The company has a current ratio of 3.37, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24. Standex International Co. has a 12-month low of $130.04 and a 12-month high of $191.18. The firm has a market capitalization of $2.09 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.62 and a beta of 1.03.

Standex International (NYSE:SXI) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.04. The business had revenue of $180.19 million for the quarter, compared to analyst estimates of $181.35 million. Standex International had a net margin of 10.14% and a return on equity of 13.60%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.76 earnings per share. Analysts forecast that Standex International Co. will post 7.67 EPS for the current fiscal year.

Standex International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Friday, August 9th. Standex International’s dividend payout ratio (DPR) is presently 19.51%.

Standex International Profile

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.