1ST Source Bank Invests $2.91 Million in Standex International Corporation $SXI

Key Points

• 1ST Source Bank acquired 8,126 shares of Standex International valued at approximately $2.91 million, while institutional investors collectively owned 90.35% of the company.
• Analysts maintain a positive outlook, with four Buy ratings and one Hold rating; Standex has a consensus target price of $298.67, including a $350 target from DA Davidson.
• Standex exceeded quarterly earnings expectations, reporting $2.45 EPS versus the $2.35 consensus and $228.25 million in revenue, up 2.8% year over year. The company also announced a quarterly dividend of $0.34 per share.

1ST Source Bank acquired a new position in shares of Standex International Corporation (NYSE:SXI - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,126 shares of the industrial products company's stock, valued at approximately $2,906,000. 1ST Source Bank owned approximately 0.07% of Standex International as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Cedar Mountain Advisors LLC acquired a new position in Standex International in the first quarter valued at $29,000. Cornerstone Planning Group LLC lifted its position in Standex International by 144.7% during the 4th quarter. Cornerstone Planning Group LLC now owns 115 shares of the industrial products company's stock worth $25,000 after acquiring an additional 68 shares during the period. UMB Bank n.a. raised its stake in shares of Standex International by 132.7% during the fourth quarter. UMB Bank n.a. now owns 128 shares of the industrial products company's stock worth $28,000 after purchasing an additional 73 shares during the last quarter. State of Wyoming acquired a new stake in shares of Standex International during the second quarter worth $46,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Standex International during the third quarter worth $28,000. Hedge funds and other institutional investors own 90.35% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SXI shares. Zacks Research raised Standex International from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. DA Davidson set a $350.00 target price on Standex International in a research note on Tuesday, August 4th. Finally, Weiss Ratings cut shares of Standex International from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $298.67.

Standex International Price Performance

SXI stock opened at $331.37 on Monday. Standex International Corporation has a 1 year low of $197.00 and a 1 year high of $363.89. The firm has a market cap of $4.01 billion, a P/E ratio of 38.22, a PEG ratio of 3.69 and a beta of 1.06. The stock's 50 day moving average price is $315.12 and its 200 day moving average price is $280.05. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.84 and a current ratio of 2.40.

Standex International (NYSE:SXI - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.10. The business had revenue of $228.25 million for the quarter, compared to the consensus estimate of $226.47 million. Standex International had a return on equity of 14.47% and a net margin of 11.73%.The business's revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.28 earnings per share. On average, sell-side analysts expect that Standex International Corporation will post 9.96 earnings per share for the current fiscal year.

Standex International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, August 7th. This represents a $1.36 annualized dividend and a yield of 0.4%. Standex International's dividend payout ratio is 15.69%.

Standex International Company Profile

Standex International Corporation is a diversified global manufacturer specializing in food service equipment, engineered components, and industrial products. Operating across multiple markets, the company designs and produces commercial cooking and warming solutions, precision-engraved nameplates and decorative products, fluid power hydraulics, and magnetics-based electronics. These offerings serve a broad array of end markets, including quick-service restaurants, automotive, aerospace, medical devices, and consumer appliances.

With business organized into key segments—Food Service Equipment, Engraving & Decorating, Hydraulics, Industrial Electronics, and Technical Graphical Solutions—Standex delivers a combination of proprietary technology, automated manufacturing processes, and custom engineering services.

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