Teacher Retirement System of Texas increased its holdings in shares of Standex International Co. (NYSE:SXI – Get Rating) by 6.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,530 shares of the industrial products company's stock after purchasing an additional 149 shares during the period. Teacher Retirement System of Texas' holdings in Standex International were worth $253,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in Standex International by 2.4% during the fourth quarter. Victory Capital Management Inc. now owns 5,306 shares of the industrial products company's stock worth $587,000 after purchasing an additional 123 shares during the period. Copeland Capital Management LLC grew its stake in Standex International by 1.0% during the first quarter. Copeland Capital Management LLC now owns 567,068 shares of the industrial products company's stock worth $56,662,000 after purchasing an additional 5,824 shares during the period. Synovus Financial Corp grew its stake in Standex International by 2.3% in the fourth quarter. Synovus Financial Corp now owns 5,163 shares of the industrial products company's stock valued at $578,000 after acquiring an additional 116 shares during the period. Jackson Creek Investment Advisors LLC acquired a new stake in Standex International in the first quarter valued at approximately $1,080,000. Finally, Gamco Investors INC. ET AL grew its stake in Standex International by 1.2% in the fourth quarter. Gamco Investors INC. ET AL now owns 82,000 shares of the industrial products company's stock valued at $9,074,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 88.39% of the company's stock.
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Analyst Ratings Changes
A number of equities research analysts have commented on SXI shares. William Blair raised Standex International from a "market perform" rating to an "outperform" rating in a research note on Monday, May 9th. Barrington Research raised their price objective on Standex International from $143.00 to $146.00 and gave the company an "outperform" rating in a research note on Monday, August 8th.
Standex International Trading Down 4.7 %
Shares of Standex International stock opened at $93.70 on Friday. The stock has a market capitalization of $1.12 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 1.02 and a beta of 1.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.82 and a current ratio of 2.51. Standex International Co. has a 52 week low of $79.02 and a 52 week high of $121.44. The stock has a 50 day moving average price of $90.34 and a two-hundred day moving average price of $96.02.
Standex International (NYSE:SXI – Get Rating) last announced its earnings results on Thursday, August 4th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.07. The company had revenue of $184.74 million for the quarter, compared to analysts' expectations of $182.35 million. Standex International had a return on equity of 13.79% and a net margin of 8.35%. Standex International's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 earnings per share. As a group, equities analysts anticipate that Standex International Co. will post 6.7 earnings per share for the current fiscal year.
Standex International Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Thursday, August 11th were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, August 10th. This represents a $1.04 annualized dividend and a dividend yield of 1.11%. Standex International's payout ratio is 20.55%.
Standex International declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 5th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.
Standex International Company Profile
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Standex International Corporation, together with subsidiaries, manufactures and sells various products and services for commercial and industrial markets in the United States and internationally. The company operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.
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