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

by · The Markets Daily

Standex International Co. (NYSE:SXI – Get Free Report) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 192,300 shares, a drop of 21.4% from the March 15th total of 244,700 shares. Based on an average trading volume of 66,400 shares, the days-to-cover ratio is presently 2.9 days. Approximately 1.7% of the shares of the stock are short sold.

Insider Transactions at Standex International

In other Standex International news, CFO Ademir Sarcevic sold 2,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $195.44, for a total transaction of $390,880.00. Following the sale, the chief financial officer now owns 16,086 shares in the company, valued at approximately $3,143,847.84. The trade was a 11.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Standex International by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 1,418,703 shares of the industrial products company’s stock valued at $265,283,000 after purchasing an additional 15,518 shares during the last quarter. Champlain Investment Partners LLC increased its stake in Standex International by 2.1% during the fourth quarter. Champlain Investment Partners LLC now owns 584,430 shares of the industrial products company’s stock valued at $109,283,000 after acquiring an additional 11,774 shares during the period. Wasatch Advisors LP lifted its position in shares of Standex International by 14.0% in the 4th quarter. Wasatch Advisors LP now owns 524,446 shares of the industrial products company’s stock worth $98,066,000 after acquiring an additional 64,373 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Standex International by 15.6% during the 4th quarter. Ameriprise Financial Inc. now owns 346,635 shares of the industrial products company’s stock worth $64,817,000 after purchasing an additional 46,869 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Standex International by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 317,140 shares of the industrial products company’s stock valued at $59,314,000 after purchasing an additional 8,923 shares in the last quarter. 90.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SXI shares. StockNews.com lowered Standex International from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Barrington Research reaffirmed an “outperform” rating and set a $220.00 target price on shares of Standex International in a research note on Friday, February 28th. William Blair reissued an “outperform” rating on shares of Standex International in a research report on Tuesday, March 11th. Roth Capital upgraded shares of Standex International to a “strong-buy” rating in a research report on Wednesday, April 9th. Finally, DA Davidson upped their price target on shares of Standex International from $222.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $231.33.

Check Out Our Latest Stock Report on Standex International

Standex International Stock Down 3.9 %

NYSE SXI traded down $5.38 during trading on Monday, hitting $130.85. 79,702 shares of the company traded hands, compared to its average volume of 54,956. The company has a market capitalization of $1.56 billion, a P/E ratio of 28.57, a PEG ratio of 2.63 and a beta of 0.95. The business has a fifty day simple moving average of $166.61 and a 200 day simple moving average of $183.19. Standex International has a 12 month low of $128.80 and a 12 month high of $212.66. The company has a current ratio of 3.37, a quick ratio of 2.61 and a debt-to-equity ratio of 0.81.

Standex International (NYSE:SXI – Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.23. Standex International had a net margin of 7.59% and a return on equity of 13.28%. As a group, sell-side analysts predict that Standex International will post 7.9 EPS for the current year.

Standex International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.32 per share. The ex-dividend date was Friday, February 14th. This represents a $1.28 annualized dividend and a dividend yield of 0.98%. Standex International’s dividend payout ratio is presently 27.95%.

About Standex International

(Get Free Report)

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.

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