Principal Financial Group Inc. reduced its position in Standex International Co. (NYSE:SXI – Get Rating) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,637 shares of the industrial products company's stock after selling 4,509 shares during the period. Principal Financial Group Inc. owned approximately 0.74% of Standex International worth $9,056,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prospera Financial Services Inc bought a new position in shares of Standex International during the first quarter worth about $122,000. Inspire Investing LLC bought a new position in shares of Standex International during the first quarter worth about $234,000. Fractal Investments LLC bought a new position in shares of Standex International during the fourth quarter worth about $251,000. Teacher Retirement System of Texas lifted its position in shares of Standex International by 6.3% during the first quarter. Teacher Retirement System of Texas now owns 2,530 shares of the industrial products company's stock worth $253,000 after purchasing an additional 149 shares during the last quarter. Finally, Personal CFO Solutions LLC lifted its position in shares of 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 worth $312,000 after purchasing an additional 138 shares during the last quarter. 88.39% of the stock is owned by hedge funds and other institutional investors.
Get Standex International alerts:Standex International Price Performance
Shares of NYSE:SXI opened at $98.34 on Friday. The firm's 50 day moving average is $90.15 and its two-hundred day moving average is $96.18. Standex International Co. has a 52 week low of $79.02 and a 52 week high of $121.44. The firm has a market capitalization of $1.18 billion, a P/E ratio of 19.43, a PEG ratio of 1.02 and a beta of 1.15. The company has a current ratio of 2.51, a quick ratio of 1.82 and a debt-to-equity ratio of 0.35.
Standex International (NYSE:SXI – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The industrial products company reported $1.54 EPS for the quarter, beating 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 analyst estimates of $182.35 million. During the same quarter last year, the business earned $1.40 earnings per share. Standex International's revenue was up 4.7% compared to the same quarter last year. Analysts anticipate that Standex International Co. will post 6.7 earnings per share for the current year.Standex International Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Wednesday, August 10th. Standex International's dividend payout ratio (DPR) is presently 20.55%.
Standex International declared that its board has initiated a stock repurchase plan on Thursday, May 5th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on SXI. Barrington Research increased their price objective on shares of Standex International from $143.00 to $146.00 and gave the stock an "outperform" rating in a research note on Monday, August 8th. William Blair upgraded shares of Standex International from a "market perform" rating to an "outperform" rating in a research note on Monday, May 9th.
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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