The Manufacturers Life Insurance Company Lowers Position in Standex International Co. (NYSE:SXI)

The Manufacturers Life Insurance Company lessened its holdings in shares of Standex International Co. (NYSE:SXI) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,279 shares of the industrial products company’s stock after selling 111 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Standex International were worth $1,174,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Barclays PLC raised its position in Standex International by 80.7% during the third quarter. Barclays PLC now owns 22,752 shares of the industrial products company’s stock valued at $4,157,000 after purchasing an additional 10,159 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Standex International by 24.4% in the 4th quarter. Park Avenue Securities LLC now owns 2,797 shares of the industrial products company’s stock worth $523,000 after purchasing an additional 548 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Standex International during the 4th quarter valued at about $263,000. SG Americas Securities LLC purchased a new position in shares of Standex International during the 4th quarter valued at about $235,000. Finally, apricus wealth LLC bought a new stake in Standex International in the 4th quarter worth approximately $299,000. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Analysts Set New Price Targets

SXI has been the subject of several research reports. Barrington Research reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Standex International in a research note on Friday, May 2nd. StockNews.com cut shares of Standex International from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. DA Davidson decreased their target price on shares of Standex International from $207.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. William Blair reissued an “outperform” rating on shares of Standex International in a research note on Tuesday, March 11th. Finally, Roth Capital raised Standex International to a “strong-buy” rating in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $223.33.

Standex International Stock Up 0.2%

Shares of Standex International stock opened at $157.42 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.61 and a current ratio of 3.37. Standex International Co. has a 52-week low of $128.85 and a 52-week high of $212.66. The company’s 50 day moving average price is $154.17 and its 200-day moving average price is $179.78. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 34.37, a P/E/G ratio of 2.63 and a beta of 1.08.

Standex International (NYSE:SXI) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.03. Standex International had a net margin of 7.59% and a return on equity of 13.28%. The business had revenue of $207.78 million during the quarter, compared to analysts’ expectations of $203.71 million. During the same quarter in the prior year, the company posted $1.75 EPS. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. Equities research analysts forecast that Standex International Co. will post 7.9 EPS for the current year.

Standex International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.28 annualized dividend and a dividend yield of 0.81%. Standex International’s payout ratio is presently 25.30%.

Standex International Company Profile

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.