Handelsbanken Fonder AB Sells 49,979 Shares of Standex International Corporation $SXI

Key Points

• Handelsbanken Fonder AB cut its Standex International stake by 58.7% in the second quarter, selling 49,979 shares and retaining 35,121 shares worth approximately $12.6 million. Institutional investors and hedge funds collectively own 90.35% of SXI.
• Standex reported quarterly earnings of $2.45 per share, exceeding estimates of $2.35, while revenue rose 2.8% year over year to $228.25 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $298.67.
• The company declared a quarterly dividend of $0.34 per share, equivalent to $1.36 annually and a 0.4% yield. SXI shares opened at $328.29, down 0.7%.

Handelsbanken Fonder AB decreased its stake in shares of Standex International Corporation (NYSE:SXI - Free Report) by 58.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 35,121 shares of the industrial products company's stock after selling 49,979 shares during the period. Handelsbanken Fonder AB owned 0.29% of Standex International worth $12,562,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in 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 valued at $7,263,000 after purchasing an additional 23,643 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Standex International by 13.7% in the first quarter. AQR Capital Management LLC now owns 5,273 shares of the industrial products company's stock worth $851,000 after buying an additional 634 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Standex International by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,928 shares of the industrial products company's stock worth $1,118,000 after buying an additional 308 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Standex International by 3.9% during the 1st 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 buying an additional 1,509 shares during the period. Finally, Jane Street Group LLC grew its stake in Standex International by 902.1% in the 1st quarter. Jane Street Group LLC now owns 36,676 shares of the industrial products company's stock valued at $5,919,000 after buying an additional 33,016 shares during the last quarter. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Standex International Trading Down 0.7%

Shares of SXI stock opened at $328.29 on Friday. The firm has a market capitalization of $3.98 billion, a P/E ratio of 37.86, a price-to-earnings-growth ratio of 3.69 and a beta of 1.06. Standex International Corporation has a 1 year low of $197.00 and a 1 year high of $363.89. The firm's fifty day simple moving average is $314.29 and its 200 day simple moving average is $279.46. The company has a current ratio of 2.40, a quick ratio of 1.84 and a debt-to-equity ratio of 0.69.

Standex International (NYSE:SXI - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.35 by $0.10. Standex International had a net margin of 11.73% and a return on equity of 14.47%. The firm had revenue of $228.25 million during the quarter, compared to the consensus estimate of $226.47 million. During the same period in the prior year, the firm earned $2.28 EPS. The business's revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Standex International Corporation will post 9.96 EPS for the current year.

Standex International Announces Dividend

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