Standex Int’l (NYSE:SXI) Cut to Hold at ValuEngine

ValuEngine lowered shares of Standex Int’l (NYSE:SXI) from a buy rating to a hold rating in a research note issued to investors on Tuesday, ValuEngine reports.

A number of other research firms have also weighed in on SXI. Zacks Investment Research raised Standex Int’l from a strong sell rating to a buy rating and set a $85.00 price objective for the company in a research report on Saturday, November 2nd. TheStreet raised Standex Int’l from a c+ rating to a b- rating in a research report on Monday, September 23rd. Finally, William Blair reaffirmed a market perform rating on shares of Standex Int’l in a research report on Wednesday, August 28th.

Shares of SXI traded down $0.28 on Tuesday, reaching $75.24. The stock had a trading volume of 508 shares, compared to its average volume of 58,976. The firm has a market capitalization of $930.63 million, a price-to-earnings ratio of 18.69 and a beta of 1.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.68 and a current ratio of 2.41. The company has a 50-day simple moving average of $74.15 and a 200-day simple moving average of $70.41. Standex Int’l has a 12-month low of $59.28 and a 12-month high of $83.18.

Standex Int’l (NYSE:SXI) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. The company had revenue of $196.44 million during the quarter, compared to analysts’ expectations of $196.56 million. Standex Int’l had a return on equity of 10.09% and a net margin of 8.11%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. On average, analysts expect that Standex Int’l will post 4.6 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Friday, November 8th. This is a positive change from Standex Int’l’s previous quarterly dividend of $0.20. Standex Int’l’s dividend payout ratio (DPR) is 21.84%.

A number of hedge funds have recently bought and sold shares of SXI. Huntington National Bank increased its position in Standex Int’l by 36.9% during the 2nd quarter. Huntington National Bank now owns 657 shares of the industrial products company’s stock valued at $48,000 after buying an additional 177 shares in the last quarter. Bank of Montreal Can increased its position in Standex Int’l by 755.0% during the 2nd quarter. Bank of Montreal Can now owns 1,197 shares of the industrial products company’s stock valued at $87,000 after buying an additional 1,057 shares in the last quarter. Marshall Wace LLP bought a new position in Standex Int’l during the 1st quarter valued at approximately $145,000. Advisor Group Inc. increased its position in Standex Int’l by 136.3% during the 2nd quarter. Advisor Group Inc. now owns 2,115 shares of the industrial products company’s stock valued at $156,000 after buying an additional 1,220 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Standex Int’l by 48.5% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,491 shares of the industrial products company’s stock valued at $182,000 after buying an additional 814 shares in the last quarter. 87.52% of the stock is owned by institutional investors.

About Standex Int’l

Standex International Corporation manufactures and sells various products and services for commercial and industrial markets in the United States and internationally. The Food Service Equipment segment offers refrigerated cabinets, cases, display units, walk-in coolers, and freezers; commercial ovens, char broilers, ranges, griddles, toasters, warmers, roller grills, and countertop merchandisers; commercial cook and hold units, rotisseries, pressure fryers, and baking equipment; commercial deep fryers; merchandizing display cases; pump systems; and cold storage equipment.

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