The Manufacturers Life Insurance Company Increases Stock Holdings in Standex International Co. (NYSE:SXI)

The Manufacturers Life Insurance Company lifted its position in Standex International Co. (NYSE:SXI) by 2.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,471 shares of the industrial products company’s stock after buying an additional 180 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of Standex International worth $1,043,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SXI. Canada Pension Plan Investment Board bought a new position in shares of Standex International in the second quarter worth approximately $32,000. GAMMA Investing LLC increased its position in shares of Standex International by 322.2% in the first quarter. GAMMA Investing LLC now owns 190 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 145 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Standex International by 95.5% in the second quarter. Fifth Third Bancorp now owns 733 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 358 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Standex International in the first quarter worth approximately $210,000. Finally, Cetera Advisors LLC bought a new position in shares of Standex International in the first quarter worth approximately $213,000. 90.35% of the stock is currently owned by institutional investors.

Standex International Stock Up 0.7 %

Shares of NYSE SXI opened at $175.76 on Friday. Standex International Co. has a one year low of $130.04 and a one year high of $191.18. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.37 and a quick ratio of 2.69. The firm’s 50 day simple moving average is $174.06 and its two-hundred day simple moving average is $172.12. The stock has a market capitalization of $2.09 billion, a P/E ratio of 28.58, a PEG ratio of 2.62 and a beta of 1.03.

Standex International (NYSE:SXI) last issued its 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. Standex International had a net margin of 10.14% and a return on equity of 13.60%. The firm had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $181.35 million. During the same quarter last year, the business earned $1.76 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. As a group, analysts expect that Standex International Co. will post 7.67 EPS for the current fiscal year.

Standex International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Friday, August 9th. Standex International’s dividend payout ratio is 19.51%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SXI. Benchmark restated a “buy” rating and issued a $210.00 price objective on shares of Standex International in a research report on Friday, August 2nd. StockNews.com upgraded shares of Standex International from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Finally, DA Davidson increased their price target on shares of Standex International from $203.00 to $211.00 and gave the company a “buy” rating in a research report on Monday, August 5th.

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.