Thrivent Financial For Lutherans reduced its stake in Standex International Corporation (NYSE:SXI) by 44.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,200 shares of the industrial products company’s stock after selling 5,870 shares during the period. Thrivent Financial For Lutherans owned approximately 0.06% of Standex International Corporation worth $721,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new stake in Standex International Corporation during the first quarter worth $110,000. State of Alaska Department of Revenue increased its stake in shares of Standex International Corporation by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 1,410 shares of the industrial products company’s stock valued at $141,000 after buying an additional 30 shares during the period. Diversified Trust Co purchased a new stake in shares of Standex International Corporation during the first quarter valued at approximately $210,000. UBS Asset Management Americas Inc. purchased a new stake in shares of Standex International Corporation during the first quarter valued at approximately $225,000. Finally, Karp Capital Management Corp purchased a new stake in shares of Standex International Corporation during the first quarter valued at approximately $242,000. Institutional investors and hedge funds own 88.95% of the company’s stock.
Standex International Corporation (SXI) traded up 0.16% during midday trading on Tuesday, reaching $93.55. 30,093 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $92.39 and its 200 day moving average is $92.72. Standex International Corporation has a 52 week low of $74.35 and a 52 week high of $101.24. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 27.07 and a beta of 1.54.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Monday, August 7th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Thursday, August 3rd. Standex International Corporation’s payout ratio is presently 18.60%.
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Several equities analysts have issued reports on SXI shares. Sidoti upgraded shares of Standex International Corporation from a “neutral” rating to a “buy” rating and upped their target price for the company from $103.00 to $115.00 in a research note on Friday, May 19th. Zacks Investment Research cut shares of Standex International Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. FBR & Co reiterated a “buy” rating on shares of Standex International Corporation in a research note on Tuesday, July 18th. Finally, BidaskClub upgraded shares of Standex International Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $108.50.
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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