Squarepoint Ops LLC Invests $1.52 Million in Standex International Corporation $SXI

Key Points

• Squarepoint Ops LLC acquired 4,244 shares of Standex International worth approximately $1.52 million during the second quarter. Institutional investors collectively own 90.35% of the company.
• Standex reported quarterly earnings of $2.45 per share, beating estimates by $0.10, while revenue rose 2.8% year over year to $228.25 million.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $298.67, although CEO David Dunbar sold 13,000 shares under a pre-arranged trading plan.

Squarepoint Ops LLC bought a new stake in shares of Standex International Corporation (NYSE:SXI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 4,244 shares of the industrial products company's stock, valued at approximately $1,518,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nykredit A S bought a new stake in Standex International in the second quarter valued at $204,000. Corient Private Wealth LP bought a new position in shares of Standex International during the 2nd quarter worth about $768,000. HB Wealth Management LLC acquired a new stake in shares of Standex International in the 2nd quarter valued at about $200,000. Susquehanna Fundamental Investments LLC grew its stake in shares of Standex International by 42.3% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 27,804 shares of the industrial products company's stock valued at $9,945,000 after buying an additional 8,270 shares during the period. Finally, Two Sigma Securities LLC bought a new stake in Standex International in the 2nd quarter valued at about $817,000. 90.35% of the stock is owned by institutional investors.

Standex International Price Performance

SXI stock opened at $254.54 on Wednesday. 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 business has a 50-day simple moving average of $302.12 and a two-hundred day simple moving average of $285.90. The company has a market capitalization of $3.13 billion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 2.87 and a beta of 1.04. Standex International Corporation has a 52-week low of $199.80 and a 52-week high of $363.89.

Standex International (NYSE:SXI - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The industrial products company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.35 by $0.10. Standex International had a return on equity of 14.47% and a net margin of 11.73%.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 business posted $2.28 earnings per share. The company'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 business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, August 7th. Standex International's dividend payout ratio is presently 15.69%.

Insider Buying and Selling

In other Standex International news, CEO David Dunbar sold 13,000 shares of Standex International stock in a transaction on Monday, August 31st. The shares were sold at an average price of $290.82, for a total transaction of $3,780,660.00. Following the transaction, the chief executive officer directly owned 75,973 shares of the company's stock, valued at $22,094,467.86. The trade was a 14.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 13,150 shares of company stock valued at $3,827,958. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SXI. DA Davidson reiterated a "buy" rating and issued a $350.00 price target on shares of Standex International in a report on Thursday, August 20th. Zacks Research raised Standex International from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. Finally, Weiss Ratings upgraded Standex International from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, September 3rd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Standex International currently has a consensus rating of "Moderate Buy" and an average price target of $298.67.

Standex International Company Profile

Standex International Corporation NYSE: SXI is a diversified industrial manufacturer that designs and produces specialized products for a range of industrial, commercial and consumer applications. The company serves customers through businesses focused on electronics, engraving, hydraulics, food service equipment and other engineered products.

Its electronics operations manufacture components and systems such as magnetic products, transformers, sensors, switches and other power and electronic technologies.

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