Bank of New York Mellon Corp Acquires Shares of 182,675 Standex International Corporation $SXI

Key Points

• Bank of New York Mellon acquired 182,675 Standex International shares worth approximately $65.3 million, giving it a 1.51% stake. Institutional investors collectively own 90.35% of the company.
• Standex exceeded quarterly expectations, reporting adjusted earnings of $2.45 per share versus the $2.35 consensus and revenue of $228.25 million, up 2.8% year over year.
• The company paid a quarterly dividend of $0.34 per share, equivalent to a $1.36 annualized payout and a 0.4% yield. Analyst sentiment is a “Moderate Buy,” with an average price target of $298.67.

Bank of New York Mellon Corp bought a new stake in Standex International Corporation (NYSE:SXI - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 182,675 shares of the industrial products company's stock, valued at approximately $65,337,000. Bank of New York Mellon Corp owned about 1.51% of Standex International at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Thrivent Financial for Lutherans boosted its holdings in Standex International by 538.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 55,544 shares of the industrial products company's stock worth $12,069,000 after purchasing an additional 46,838 shares during the period. California State Teachers Retirement System increased its holdings in shares of Standex International by 26.5% in the 1st quarter. California State Teachers Retirement System now owns 14,604 shares of the industrial products company's stock worth $3,722,000 after acquiring an additional 3,059 shares during the period. UBS Group AG grew its position in Standex International by 66.8% in the 4th quarter. UBS Group AG now owns 91,443 shares of the industrial products company's stock worth $19,869,000 after purchasing an additional 36,634 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Standex International by 9,509.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,207 shares of the industrial products company's stock valued at $1,566,000 after purchasing an additional 7,132 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Standex International during the fourth quarter valued at about $2,843,000. Hedge funds and other institutional investors own 90.35% of the company's stock.

Standex International Stock Performance

Shares of SXI opened at $305.03 on Thursday. The company has a market capitalization of $3.70 billion, a PE ratio of 35.18, a PEG ratio of 3.40 and a beta of 1.06. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.84 and a current ratio of 2.40. The company's 50 day moving average price is $316.95 and its 200 day moving average price is $283.88. Standex International Corporation has a 52 week low of $197.00 and a 52 week high of $363.89.

Standex International (NYSE:SXI - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The industrial products company reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates of $2.35 by $0.10. Standex International had a return on equity of 14.47% and a net margin of 11.73%.The company had revenue of $228.25 million during the quarter, compared to analysts' expectations of $226.47 million. During the same quarter in the previous year, the firm earned $2.28 earnings per share. The business's quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts expect that Standex International Corporation will post 9.96 EPS for the current fiscal year.

Standex International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, August 7th. Standex International's dividend payout ratio is currently 15.69%.

Wall Street Analyst Weigh In

SXI has been the subject of several research analyst reports. Weiss Ratings lowered Standex International from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, August 19th. Zacks Research raised shares of Standex International from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Finally, DA Davidson restated a "buy" rating and set a $350.00 price objective on shares of Standex International in a research report on Thursday, August 20th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Standex International presently has an average rating of "Moderate Buy" and an average target price of $298.67.

About Standex International

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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