HM Payson & Co. purchased a new stake in Standex International Co. (NYSE:SXI – Get Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,344 shares of the industrial products company's stock, valued at approximately $634,000. HM Payson & Co. owned approximately 0.05% of Standex International at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prospera Financial Services Inc acquired a new stake in shares of Standex International in the first quarter valued at approximately $122,000. Inspire Investing LLC acquired a new position in Standex International during the first quarter valued at approximately $234,000. Teacher Retirement System of Texas acquired a new position in Standex International during the fourth quarter valued at approximately $263,000. MQS Management LLC acquired a new position in Standex International during the first quarter valued at approximately $249,000. Finally, Personal CFO Solutions LLC raised its position in Standex International by 4.6% during the first quarter. Personal CFO Solutions LLC now owns 3,120 shares of the industrial products company's stock valued at $312,000 after purchasing an additional 138 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.
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Standex International Stock Performance
Shares of Standex International stock opened at $91.49 on Wednesday. The company has a quick ratio of 1.82, a current ratio of 2.51 and a debt-to-equity ratio of 0.35. Standex International Co. has a twelve month low of $79.02 and a twelve month high of $121.44. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 0.99 and a beta of 1.15. The company's fifty day moving average is $90.65 and its 200 day moving average is $95.85.
Standex International (NYSE:SXI – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The industrial products company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.07. Standex International had a net
margin of 8.35% and a return on equity of 13.79%. The company had revenue of $184.74 million for the quarter, compared to analysts' expectations of $182.35 million. During the same quarter in the previous year, the firm posted $1.40 earnings per share. Standex International's revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts forecast that Standex International Co. will post 6.7 EPS for the current year.
Standex International Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.14%. Standex International's dividend payout ratio (DPR) is currently 20.55%.
Standex International announced that its Board of Directors has approved a share buyback plan on Thursday, May 5th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the industrial products company to buy up to 8.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Barrington Research boosted their price objective on shares of Standex International from $143.00 to $146.00 and gave the company an "outperform" rating in a research report on Monday, August 8th. William Blair raised shares of Standex International from a "market perform" rating to an "outperform" rating in a research note on Monday, May 9th.
About Standex International
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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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