Standex International Co. (NYSE:SXI) Sees Significant Decrease in Short Interest

Standex International Co. (NYSE:SXI) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totalling 223,900 shares, a decline of 23.4% from the July 15th total of 292,200 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 56,600 shares, the days-to-cover ratio is currently 4.0 days.

Institutional Investors Weigh In On Standex International

A number of hedge funds and other institutional investors have recently modified their holdings of SXI. Principal Securities Inc. bought a new position in Standex International during the 4th quarter valued at approximately $26,000. GAMMA Investing LLC raised its position in Standex International by 322.2% during the 1st quarter. GAMMA Investing LLC now owns 190 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 145 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Standex International during the 2nd quarter valued at approximately $32,000. SRS Capital Advisors Inc. raised its position in Standex International by 341.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 322 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 249 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Standex International by 95.5% during the 2nd quarter. Fifth Third Bancorp now owns 733 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 358 shares during the last quarter. Institutional investors own 90.35% of the company’s stock.

Standex International Trading Down 1.7 %

Shares of NYSE SXI traded down $2.81 during midday trading on Wednesday, reaching $166.00. The company had a trading volume of 4,411 shares, compared to its average volume of 62,173. Standex International has a one year low of $130.04 and a one year high of $191.18. The company has a quick ratio of 2.69, a current ratio of 3.37 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average price is $169.63 and its 200-day moving average price is $169.72. The stock has a market cap of $1.97 billion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 2.39 and a beta of 1.04.

Standex International (NYSE:SXI) last released its 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 company had revenue of $180.19 million during the quarter, compared to analyst estimates of $181.35 million. During the same quarter in the previous year, the company posted $1.76 EPS. Standex International’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities research analysts anticipate that Standex International will post 7.82 earnings per share for the current year.

Standex International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Friday, August 9th. Standex International’s dividend payout ratio (DPR) is presently 19.42%.

Analysts Set New Price Targets

SXI has been the subject of several recent analyst reports. Barrington Research restated an “outperform” rating and set a $180.00 target price on shares of Standex International in a research report on Tuesday, May 28th. Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Standex International in a research note on Friday, August 2nd. StockNews.com raised Standex International from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, DA Davidson lifted their price target on Standex International from $203.00 to $211.00 and gave the stock a “buy” rating in a research note on Monday, August 5th.

Standex International Company 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.