BlackRock Inc. Takes $640.12 Million Position in Standex International Corporation $SXI

Key Points

• BlackRock acquired 1.79 million shares of Standex International in the second quarter, a stake worth approximately $640.1 million and representing 14.78% of the company. Institutional investors and hedge funds collectively own 90.35% of SXI.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $298.67, although individual ratings range from Buy to Hold and DA Davidson set a $350 target.
• Standex exceeded quarterly expectations with adjusted EPS of $2.45 versus $2.35 expected and revenue of $228.25 million. The company also declared a quarterly dividend of $0.34, equivalent to a 0.4% annualized yield.

BlackRock Inc. acquired a new stake in Standex International Corporation (NYSE:SXI - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,789,694 shares of the industrial products company's stock, valued at approximately $640,120,000. BlackRock Inc. owned about 14.78% of Standex International as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in shares of Standex International by 13.1% in the 2nd quarter. GAMMA Investing LLC now owns 303 shares of the industrial products company's stock valued at $108,000 after acquiring an additional 35 shares during the period. Corient Private Wealth LLC lifted its position in Standex International by 4.6% during the 4th quarter. Corient Private Wealth LLC now owns 1,148 shares of the industrial products company's stock worth $252,000 after acquiring an additional 50 shares during the period. Personal CFO Solutions LLC lifted its position in Standex International by 2.3% during the 1st quarter. Personal CFO Solutions LLC now owns 2,377 shares of the industrial products company's stock worth $606,000 after acquiring an additional 54 shares during the period. Cornerstone Planning Group LLC grew its stake 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 valued at $25,000 after purchasing an additional 68 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in Standex International by 132.7% during the 4th quarter. UMB Bank n.a. now owns 128 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 73 shares during the last quarter. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SXI. DA Davidson restated a "buy" rating and issued a $350.00 price objective on shares of Standex International in a research note on Thursday. Weiss Ratings lowered shares of Standex International from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Finally, Zacks Research upgraded shares of Standex International from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 2nd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Standex International presently has a consensus rating of "Moderate Buy" and a consensus target price of $298.67.

Standex International Stock Performance

NYSE SXI opened at $311.36 on Monday. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 35.91, a PEG ratio of 3.46 and a beta of 1.06. Standex International Corporation has a twelve month low of $197.00 and a twelve month high of $363.89. The company has a current ratio of 2.40, a quick ratio of 1.84 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average of $316.96 and a 200 day moving average of $282.59.

Standex International (NYSE:SXI - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.35 by $0.10. The company 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%.Standex International's revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.28 earnings per share. Sell-side analysts anticipate that Standex International Corporation will post 9.96 EPS for the current fiscal year.

Standex International Dividend Announcement

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

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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