Park Avenue Securities LLC Trims Holdings in Standex International Co. (NYSE:SXI)

Park Avenue Securities LLC lowered its position in Standex International Co. (NYSE:SXI) by 6.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,410 shares of the industrial products company’s stock after selling 168 shares during the period. Park Avenue Securities LLC’s holdings in Standex International were worth $439,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Standex International in the 4th quarter valued at $26,000. Principal Securities Inc. acquired a new position in Standex International during the fourth quarter valued at $26,000. Pacer Advisors Inc. purchased a new stake in Standex International in the fourth quarter valued at $28,000. GAMMA Investing LLC grew its position in Standex International by 322.2% during the 1st quarter. GAMMA Investing LLC now owns 190 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 145 shares during the period. Finally, SRS Capital Advisors Inc. raised its stake in shares of Standex International by 341.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 322 shares of the industrial products company’s stock valued at $51,000 after buying an additional 249 shares during the last quarter. Institutional investors and hedge funds own 90.35% of the company’s stock.

Insider Buying and Selling

In related news, Director Charles H. Cannon, Jr. sold 2,460 shares of Standex International stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.02, for a total value of $437,929.20. Following the sale, the director now directly owns 862 shares in the company, valued at approximately $153,453.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.28% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SXI. Barrington Research reaffirmed an “outperform” rating and set a $180.00 target price on shares of Standex International in a report on Tuesday, May 28th. Benchmark reaffirmed a “buy” rating and set a $190.00 price objective on shares of Standex International in a research note on Friday, May 3rd. Finally, DA Davidson boosted their target price on shares of Standex International from $200.00 to $203.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $191.00.

Standex International Stock Performance

NYSE SXI opened at $161.15 on Friday. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 2.51 and a beta of 1.06. The stock has a 50-day moving average of $168.38 and a 200 day moving average of $164.35. The company has a current ratio of 3.43, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24. Standex International Co. has a twelve month low of $130.04 and a twelve month high of $184.18.

Standex International (NYSE:SXI) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.08. The firm had revenue of $177.30 million for the quarter, compared to analyst estimates of $180.06 million. Standex International had a return on equity of 13.72% and a net margin of 10.11%. The business’s revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 EPS. Sell-side analysts anticipate that Standex International Co. will post 7.1 EPS for the current fiscal year.

Standex International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.74%. Standex International’s dividend payout ratio is currently 19.42%.

Standex International Profile

Standex International Corporation, together with subsidiaries, manufactures and sells 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.