Victory Capital Management Inc. Lowers Holdings in Standex International Co. (NYSE:SXI)

Victory Capital Management Inc. lessened its stake in Standex International Co. (NYSE:SXI) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,594 shares of the industrial products company’s stock after selling 131 shares during the quarter. Victory Capital Management Inc. owned about 0.39% of Standex International worth $7,347,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Standex International during the 4th quarter worth about $12,560,000. Wasatch Advisors LP purchased a new position in Standex International in the first quarter valued at about $52,565,000. Lord Abbett & CO. LLC acquired a new position in shares of Standex International during the first quarter worth about $4,647,000. Harbor Capital Advisors Inc. boosted its position in shares of Standex International by 292.6% in the second quarter. Harbor Capital Advisors Inc. now owns 5,233 shares of the industrial products company’s stock worth $843,000 after buying an additional 3,900 shares during the period. Finally, Boston Partners purchased a new stake in shares of Standex International during the 1st quarter valued at about $691,000. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Standex International Trading Up 2.7 %

NYSE:SXI opened at $171.90 on Monday. Standex International Co. has a 12-month low of $130.04 and a 12-month high of $191.18. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.37 and a quick ratio of 2.69. The business has a 50 day simple moving average of $174.27 and a 200 day simple moving average of $171.90. The firm has a market capitalization of $2.05 billion, a P/E ratio of 27.82, a P/E/G ratio of 2.43 and a beta of 1.03.

Standex International (NYSE:SXI) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.04. Standex International had a net margin of 10.14% and a return on equity of 13.60%. The business had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $181.35 million. During the same quarter last year, the company earned $1.76 EPS. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts predict that Standex International Co. will post 7.67 EPS for the current year.

Standex International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, August 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.70%. Standex International’s dividend payout ratio is presently 19.42%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of Standex International in a research report on Tuesday, May 28th. DA Davidson lifted their price target on shares of Standex International from $203.00 to $211.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Benchmark reissued a “buy” rating and issued a $210.00 price objective on shares of Standex International in a research report on Friday, August 2nd. Finally, StockNews.com upgraded Standex International from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th.

About Standex International

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.