Standex International Corporation (SXI) Stock Rating Lowered by Zacks Investment Research

Standex International Corporation (NYSE:SXI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, May 17th.

According to Zacks, “Standex International Corp. is a diversified manufacturer producing and marketing a wide variety of useful, quality products. The company enjoys a broad and well-balanced earnings base by virtue of its strong market position in selected areas of operation. (PRESS RELEASE) “

Shares of Standex International Corporation (SXI) traded up 0.27% during trading on Wednesday, reaching $91.65. The company had a trading volume of 75,328 shares. Standex International Corporation has a 12 month low of $74.35 and a 12 month high of $101.24. The stock’s 50-day moving average price is $89.38 and its 200-day moving average price is $92.15. The stock has a market capitalization of $1.17 billion, a PE ratio of 26.52 and a beta of 1.52.

Standex International Corporation (NYSE:SXI) last issued its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by $0.12. The firm had revenue of $184.72 million for the quarter, compared to the consensus estimate of $177.30 million. Standex International Corporation had a net margin of 6.01% and a return on equity of 14.88%. During the same period in the previous year, the business posted $0.93 earnings per share. Equities analysts forecast that Standex International Corporation will post $4.44 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 25th. Shareholders of record on Wednesday, May 10th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Monday, May 8th. Standex International Corporation’s payout ratio is currently 18.60%.

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Institutional investors have recently modified their holdings of the stock. US Bancorp DE raised its position in shares of Standex International Corporation by 9.3% in the third quarter. US Bancorp DE now owns 1,354 shares of the industrial products company’s stock worth $126,000 after buying an additional 115 shares during the last quarter. BlackRock Investment Management LLC raised its position in shares of Standex International Corporation by 1.5% in the third quarter. BlackRock Investment Management LLC now owns 54,485 shares of the industrial products company’s stock worth $5,060,000 after buying an additional 792 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Standex International Corporation by 10.3% in the third quarter. Teachers Advisors LLC now owns 24,915 shares of the industrial products company’s stock worth $2,314,000 after buying an additional 2,328 shares during the last quarter. Rhumbline Advisers raised its position in shares of Standex International Corporation by 5.0% in the third quarter. Rhumbline Advisers now owns 18,391 shares of the industrial products company’s stock worth $1,708,000 after buying an additional 870 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Standex International Corporation by 4.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 331,496 shares of the industrial products company’s stock worth $30,786,000 after buying an additional 13,810 shares during the last quarter. 89.28% of the stock is owned by hedge funds and other institutional investors.

About Standex International Corporation

Standex International Corporation is a diversified manufacturing company. The Company is a manufacturer of a range of products and services for diverse commercial and industrial market segments. The Company has 11 operating segments, aggregated and organized into five segments: Food Service Equipment, Engraving, Engineering Technologies, Electronics and Hydraulics.

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