Castleark Management LLC Makes New $5.17 Million Investment in Standex International Corporation $SXI

Castleark Management LLC bought a new position in shares of Standex International Corporation (NYSE:SXI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,470 shares of the industrial products company’s stock, valued at approximately $5,175,000. Castleark Management LLC owned approximately 0.12% of Standex International as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SXI. BlackRock Inc. acquired a new position in Standex International during the second quarter worth about $640,120,000. Wasatch Advisors LP raised its holdings in Standex International by 61.3% in the 4th quarter. Wasatch Advisors LP now owns 1,369,859 shares of the industrial products company’s stock valued at $297,643,000 after acquiring an additional 520,506 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Standex International in the 2nd quarter worth approximately $149,891,000. Geode Capital Management LLC lifted its stake in Standex International by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 281,603 shares of the industrial products company’s stock worth $61,195,000 after purchasing an additional 798 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Standex International by 73.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 223,581 shares of the industrial products company’s stock worth $48,580,000 after purchasing an additional 94,415 shares during the last quarter. 90.35% of the stock is owned by hedge funds and other institutional investors.

Standex International Price Performance

SXI stock opened at $305.67 on Wednesday. The business has a fifty day moving average of $316.77 and a two-hundred day moving average of $283.42. The company has a quick ratio of 1.84, a current ratio of 2.40 and a debt-to-equity ratio of 0.69. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 35.26, a price-to-earnings-growth ratio of 3.38 and a beta of 1.06. Standex International Corporation has a 52-week low of $197.00 and a 52-week high of $363.89.

Standex International (NYSE:SXI) last announced its quarterly earnings results on Friday, July 31st. The industrial products company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.35 by $0.10. The business had revenue of $228.25 million for the quarter, compared to analyst estimates of $226.47 million. Standex International had a return on equity of 14.47% and a net margin of 11.73%.The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.28 EPS. As a group, research analysts anticipate that Standex International Corporation will post 9.96 earnings per share for the current year.

Standex International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a yield of 0.4%. Standex International’s dividend payout ratio is presently 15.69%.

Analysts Set New Price Targets

Several equities research analysts recently commented on SXI shares. Weiss Ratings cut Standex International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Zacks Research upgraded Standex International from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $350.00 target price on shares of Standex International in a research note on Thursday, August 20th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Standex International presently has an average rating of “Moderate Buy” and a consensus target price of $298.67.

About Standex International

Standex International Corporation is a diversified global manufacturer specializing in food service equipment, engineered components, and industrial products. Operating across multiple markets, the company designs and produces commercial cooking and warming solutions, precision-engraved nameplates and decorative products, fluid power hydraulics, and magnetics-based electronics. These offerings serve a broad array of end markets, including quick-service restaurants, automotive, aerospace, medical devices, and consumer appliances.

With business organized into key segments—Food Service Equipment, Engraving & Decorating, Hydraulics, Industrial Electronics, and Technical Graphical Solutions—Standex delivers a combination of proprietary technology, automated manufacturing processes, and custom engineering services.