Legal & General Group Plc Makes New $9.86 Million Investment in Standex International Corporation $SXI

Key Points

• Legal & General Group Plc acquired 27,574 shares of Standex International, valued at approximately $9.86 million, representing about 0.23% of the company. Institutional investors collectively own 90.35% of SXI.
• Standex reported quarterly EPS of $2.45, topping estimates by $0.10, while revenue of $228.25 million rose 2.8% year over year. Analysts expect approximately $9.96 in full-year EPS.
• SXI shares opened at $289.20, down 3.1%, while the company maintained a quarterly dividend of $0.34 per share. Analysts have a “Moderate Buy” consensus rating and an average price target of $298.67.

Legal & General Group Plc acquired a new position in shares of Standex International Corporation (NYSE:SXI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 27,574 shares of the industrial products company's stock, valued at approximately $9,862,000. Legal & General Group Plc owned approximately 0.23% of Standex International at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Standex International by 110.7% in the 1st 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 in the last quarter. AQR Capital Management LLC increased its holdings in Standex International by 13.7% during the 1st quarter. AQR Capital Management LLC now owns 5,273 shares of the industrial products company's stock valued at $851,000 after purchasing an additional 634 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 valued at $1,118,000 after purchasing an additional 308 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Standex International by 3.9% in 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 valued at $6,474,000 after purchasing an additional 1,509 shares during the last quarter. Finally, Jane Street Group LLC raised its position 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 purchasing an additional 33,016 shares during the last quarter. Institutional investors own 90.35% of the company's stock.

Standex International Stock Down 3.1%

Standex International stock opened at $289.20 on Tuesday. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 3.33 and a beta of 1.06. The company's 50 day simple moving average is $315.75 and its 200 day simple moving average is $284.71. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.40 and a quick ratio of 1.84. Standex International Corporation has a fifty-two week low of $197.00 and a fifty-two week high of $363.89.

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

Standex International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given a $0.34 dividend. The ex-dividend date was Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.5%. Standex International's dividend payout ratio is currently 15.69%.

Analysts Set New Price Targets

Several analysts have recently commented on SXI shares. Zacks Research upgraded Standex International from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. DA Davidson reaffirmed a "buy" rating and issued a $350.00 price target on shares of Standex International in a report on Thursday, August 20th. Finally, Weiss Ratings downgraded shares of Standex International from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, August 19th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $298.67.

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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