State of New Jersey Common Pension Fund D Has $1.83 Million Stake in Standex International Co. (NYSE:SXI)

State of New Jersey Common Pension Fund D lowered its stake in shares of Standex International Co. (NYSE:SXI) by 32.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,344 shares of the industrial products company’s stock after selling 5,431 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.10% of Standex International worth $1,828,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SXI. Wasatch Advisors LP acquired a new position in shares of Standex International during the first quarter valued at about $52,565,000. Norges Bank bought a new stake in shares of Standex International during the fourth quarter worth about $12,560,000. Champlain Investment Partners LLC increased its position in shares of Standex International by 4.6% during the first quarter. Champlain Investment Partners LLC now owns 637,162 shares of the industrial products company’s stock worth $116,104,000 after acquiring an additional 27,990 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Standex International during the first quarter worth about $4,647,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Standex International by 6.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 188,380 shares of the industrial products company’s stock worth $29,836,000 after acquiring an additional 10,670 shares in the last quarter. Institutional investors and hedge funds own 90.35% of the company’s stock.

Wall Street Analyst Weigh In

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

Standex International Stock Performance

Shares of SXI stock opened at $178.13 on Tuesday. The stock has a market capitalization of $2.09 billion, a P/E ratio of 28.82, a PEG ratio of 2.50 and a beta of 1.03. The company has a current ratio of 3.37, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average is $175.19 and its 200 day moving average is $171.90. Standex International Co. has a 12 month low of $130.04 and a 12 month high of $191.18.

Standex International (NYSE:SXI) last posted its earnings results on Thursday, August 1st. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $1.76 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Standex International Co. will post 7.67 earnings per share for the current year.

Standex International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Friday, August 9th. Standex International’s dividend payout ratio is presently 19.42%.

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.