Standex International Corporation $SXI Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada cut its Standex International stake by 46.3% in the first quarter, selling 11,994 shares and retaining 13,900 shares worth approximately $3.54 million. Institutional investors collectively own 90.35% of SXI.
• Standex shares rose 1.1% to $331.37, near the upper end of their 52-week range. The company recently beat quarterly estimates with EPS of $2.45 and revenue of $228.25 million, up 2.8% year over year.
• The company declared a quarterly dividend of $0.34 per share, equivalent to a 0.4% yield. Analysts maintain a “Moderate Buy” consensus, though the average price target of $298.67 is below the current share price.

Royal Bank of Canada trimmed its holdings in shares of Standex International Corporation (NYSE:SXI - Free Report) by 46.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,900 shares of the industrial products company's stock after selling 11,994 shares during the period. Royal Bank of Canada owned 0.11% of Standex International worth $3,542,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SXI. Corient Private Wealth LLC grew its position in shares of 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 valued at $252,000 after buying an additional 50 shares during the last quarter. Personal CFO Solutions LLC raised its stake in Standex International by 2.3% during the first 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 lifted its holdings in Standex International by 144.7% in the fourth quarter. Cornerstone Planning Group LLC now owns 115 shares of the industrial products company's stock worth $25,000 after acquiring an additional 68 shares during the last quarter. UMB Bank n.a. lifted its holdings in Standex International by 132.7% in the fourth quarter. UMB Bank n.a. now owns 128 shares of the industrial products company's stock worth $28,000 after acquiring an additional 73 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Standex International by 3.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,767 shares of the industrial products company's stock valued at $601,000 after acquiring an additional 95 shares during the period. 90.35% of the stock is currently owned by institutional investors.

Standex International Trading Up 1.1%

Shares of NYSE:SXI opened at $331.37 on Friday. The company has a quick ratio of 1.84, a current ratio of 2.40 and a debt-to-equity ratio of 0.69. The company's 50-day moving average price is $315.12 and its 200 day moving average price is $279.82. The company has a market cap of $4.01 billion, a PE ratio of 38.22, a P/E/G ratio of 3.66 and a beta of 1.06. 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 posted its earnings results 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 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 analysts' expectations of $226.47 million. During the same quarter in the prior year, the firm earned $2.28 EPS. Standex International's quarterly revenue was up 2.8% on a year-over-year basis. Sell-side analysts anticipate that Standex International Corporation will post 9.96 earnings per share for the current year.

Standex International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, August 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.4%. Standex International's payout ratio is currently 15.69%.

Analyst Upgrades and Downgrades

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