Truist Financial Corp Acquires 810 Shares of Standex International Co. (NYSE:SXI)

Truist Financial Corp increased its holdings in Standex International Co. (NYSE:SXI) by 22.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,365 shares of the industrial products company’s stock after purchasing an additional 810 shares during the quarter. Truist Financial Corp’s holdings in Standex International were worth $703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SXI. Goldman Sachs Group Inc. lifted its holdings in Standex International by 6.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 188,380 shares of the industrial products company’s stock worth $29,836,000 after buying an additional 10,670 shares during the period. Vanguard Group Inc. lifted its holdings in Standex International by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 1,415,927 shares of the industrial products company’s stock worth $224,255,000 after buying an additional 9,166 shares during the period. Moody National Bank Trust Division purchased a new stake in Standex International in the first quarter worth about $236,000. GAMMA Investing LLC lifted its holdings in Standex International by 322.2% in the first quarter. GAMMA Investing LLC now owns 190 shares of the industrial products company’s stock worth $35,000 after buying an additional 145 shares during the period. Finally, Diversified Trust Co lifted its holdings in Standex International by 33.1% in the first quarter. Diversified Trust Co now owns 5,437 shares of the industrial products company’s stock worth $991,000 after buying an additional 1,351 shares during the period. 90.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Benchmark restated a “buy” rating and issued a $210.00 price objective on shares of Standex International in a report on Friday, August 2nd. DA Davidson lifted their target price on shares of Standex International from $203.00 to $211.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, StockNews.com upgraded shares of Standex International from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th.

Standex International Price Performance

SXI stock opened at $179.50 on Wednesday. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 2.53 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.37. The firm has a 50 day moving average price of $174.35 and a 200-day moving average price of $171.99. Standex International Co. has a 52-week low of $130.04 and a 52-week high of $191.18.

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

Standex International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Friday, August 9th. Standex International’s dividend payout ratio (DPR) is currently 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.