Standex International Co. (NYSE:SXI) Shares Bought by Raymond James & Associates

Raymond James & Associates grew its stake in Standex International Co. (NYSE:SXI) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,622 shares of the industrial products company’s stock after purchasing an additional 1,764 shares during the quarter. Raymond James & Associates owned approximately 0.30% of Standex International worth $5,740,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of SXI. Norges Bank acquired a new position in Standex International during the 4th quarter worth $12,560,000. Wasatch Advisors LP acquired a new stake in Standex International in the first quarter worth about $52,565,000. Lord Abbett & CO. LLC bought a new position in Standex International in the 1st quarter valued at about $4,647,000. Harbor Capital Advisors Inc. increased its stake in Standex International by 292.6% during the 2nd 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. Finally, Boston Partners bought a new stake in shares of Standex International during the 1st quarter worth about $691,000. Institutional investors own 90.35% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SXI. DA Davidson upped 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. StockNews.com upgraded shares of Standex International from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Benchmark reissued a “buy” rating and set a $210.00 target price on shares of Standex International in a research note on Friday, August 2nd. Finally, Barrington Research reiterated an “outperform” rating and set a $180.00 price objective on shares of Standex International in a report on Tuesday, May 28th.

Standex International Price Performance

NYSE SXI opened at $174.23 on Thursday. Standex International Co. has a fifty-two week low of $130.04 and a fifty-two week high of $191.18. The stock’s 50-day moving average is $171.55 and its two-hundred day moving average is $171.24. The firm has a market cap of $2.06 billion, a P/E ratio of 28.19, a price-to-earnings-growth ratio of 2.48 and a beta of 1.04. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.37 and a quick ratio of 2.69.

Standex International (NYSE:SXI) last announced its earnings results on Thursday, August 1st. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $180.19 million during the quarter, compared to analysts’ expectations of $181.35 million. During the same quarter in the prior year, the business earned $1.76 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. On average, analysts anticipate that Standex International Co. will post 7.67 earnings per share for the current fiscal year.

Standex International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.20 annualized dividend and a yield of 0.69%. Standex International’s dividend payout ratio (DPR) is presently 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.