Standex International Corporation $SXI Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its stake in Standex International by 33.4% in Q1, selling 51,921 shares and leaving it with 103,614 shares worth about $26.95 million.
• Standex International reported quarterly EPS of $2.21, narrowly missing estimates, while revenue of $224.59 million was slightly below forecasts but still up 8.1% year over year.
• Wall Street sentiment remains positive overall: analysts currently rate SXI a Moderate Buy, with a consensus price target of $289.67, and the company recently paid a quarterly dividend of $0.34 per share.

Allspring Global Investments Holdings LLC decreased its holdings in shares of Standex International Corporation (NYSE:SXI - Free Report) by 33.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,614 shares of the industrial products company's stock after selling 51,921 shares during the period. Allspring Global Investments Holdings LLC owned about 0.85% of Standex International worth $26,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the stock. 1ST Source Bank grew its position in shares of Standex International by 32.6% in the first quarter. 1ST Source Bank now owns 8,126 shares of the industrial products company's stock valued at $2,071,000 after purchasing an additional 2,000 shares during the period. Principal Financial Group Inc. raised its position in shares of Standex International by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 59,171 shares of the industrial products company's stock worth $15,080,000 after purchasing an additional 1,271 shares during the last quarter. Associated Banc Corp purchased a new position in Standex International in the 1st quarter valued at about $224,000. Cedar Mountain Advisors LLC purchased a new position in Standex International in the 1st quarter valued at about $29,000. Finally, Kestra Advisory Services LLC boosted its holdings in Standex International by 10.5% in the 1st quarter. Kestra Advisory Services LLC now owns 1,303 shares of the industrial products company's stock worth $332,000 after buying an additional 124 shares during the last quarter. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on SXI. Weiss Ratings raised Standex International from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday. DA Davidson reaffirmed a "buy" rating and issued a $323.00 price target on shares of Standex International in a research note on Monday, May 4th. Finally, Zacks Research upgraded Standex International from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $289.67.

Standex International Stock Performance

NYSE SXI opened at $300.74 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.23 and a current ratio of 3.05. The stock's fifty day moving average is $297.18 and its two-hundred day moving average is $269.99. The firm has a market capitalization of $3.64 billion, a P/E ratio of 36.63, a price-to-earnings-growth ratio of 3.38 and a beta of 1.03. Standex International Corporation has a fifty-two week low of $154.57 and a fifty-two week high of $363.89.

Standex International (NYSE:SXI - Get Free Report) last issued its earnings results on Wednesday, May 6th. The industrial products company reported $2.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.22 by ($0.01). Standex International had a return on equity of 14.38% and a net margin of 11.18%.The company had revenue of $224.59 million during the quarter, compared to analyst estimates of $225.16 million. During the same period last year, the business earned $1.95 earnings per share. The firm's revenue was up 8.1% compared to the same quarter last year. On average, research analysts anticipate that Standex International Corporation will post 8.58 earnings per share for the current year.

Standex International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, May 8th. Standex International's payout ratio is presently 16.57%.

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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