Anchor Capital Management Company LLC Sells 22,007 Shares of Standex International Corporation $SXI

Key Points

• Anchor Capital Management cut its stake in Standex International by 22.4% in the fourth quarter, selling 22,007 shares and leaving it with 76,387 shares valued at about $16.6 million. The stock remains one of the firm’s largest holdings at 14.7% of its portfolio.
• Standex International’s latest quarterly results slightly missed analyst expectations, with EPS of $2.21 versus $2.22 expected and revenue of $224.6 million versus $225.16 million forecast. Revenue still rose 8.1% year over year.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and a target price of $289.67, while shares recently traded near $308.79, close to their 12-month high of $318.00.

Anchor Capital Management Company LLC trimmed its position in shares of Standex International Corporation (NYSE:SXI - Free Report) by 22.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,387 shares of the industrial products company's stock after selling 22,007 shares during the quarter. Standex International accounts for approximately 14.7% of Anchor Capital Management Company LLC's portfolio, making the stock its 2nd largest holding. Anchor Capital Management Company LLC owned about 0.63% of Standex International worth $16,597,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SXI. Royal Bank of Canada increased its stake in shares of Standex International by 110.7% during the first quarter. Royal Bank of Canada now owns 45,010 shares of the industrial products company's stock worth $7,263,000 after acquiring an additional 23,643 shares during the period. AQR Capital Management LLC increased its stake in shares of Standex International by 13.7% during the first quarter. AQR Capital Management LLC now owns 5,273 shares of the industrial products company's stock worth $851,000 after acquiring an additional 634 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Standex International by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,928 shares of the industrial products company's stock worth $1,118,000 after acquiring an additional 308 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Standex International by 3.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 40,112 shares of the industrial products company's stock worth $6,474,000 after acquiring an additional 1,509 shares during the period. Finally, Jane Street Group LLC increased its stake in shares of Standex International by 902.1% during the first quarter. Jane Street Group LLC now owns 36,676 shares of the industrial products company's stock worth $5,919,000 after acquiring an additional 33,016 shares during the period. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Standex International Stock Down 0.2%

Shares of NYSE SXI opened at $308.79 on Wednesday. Standex International Corporation has a 12-month low of $151.79 and a 12-month high of $318.00. The company has a market capitalization of $3.74 billion, a PE ratio of 37.61, a price-to-earnings-growth ratio of 4.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.05 and a quick ratio of 2.23. The firm's 50-day moving average is $272.63 and its two-hundred day moving average is $255.50.

Standex International (NYSE:SXI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.01). The business had revenue of $224.60 million during the quarter, compared to analysts' expectations of $225.16 million. Standex International had a net margin of 11.18% and a return on equity of 14.38%. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company earned $1.95 EPS. Equities analysts anticipate that Standex International Corporation will post 8.58 EPS for the current fiscal year.

Standex International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.36 annualized dividend and a dividend yield of 0.4%. Standex International's dividend payout ratio is presently 16.57%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barrington Research restated an "outperform" rating and set a $260.00 target price on shares of Standex International in a research report on Monday, March 9th. Weiss Ratings upgraded shares of Standex International from a "hold (c)" rating to a "buy (b)" rating in a research report on Thursday, May 7th. DA Davidson restated a "buy" rating and set a $323.00 target price on shares of Standex International in a research report on Monday, May 4th. Finally, Zacks Research upgraded shares of Standex International from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $289.67.

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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