Standex International Co. (NYSE:SXI) Sees Large Decline in Short Interest

Standex International Co. (NYSE:SXI) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 172,400 shares, a decline of 21.4% from the August 15th total of 219,400 shares. Based on an average daily volume of 51,700 shares, the short-interest ratio is currently 3.3 days. Currently, 1.5% of the company’s stock are short sold.

Standex International Stock Performance

NYSE SXI traded up $2.10 during trading hours on Tuesday, hitting $174.50. The company had a trading volume of 67,656 shares, compared to its average volume of 59,055. Standex International has a 1-year low of $130.04 and a 1-year high of $191.18. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.37. The company has a market cap of $2.08 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03. The business has a 50 day moving average of $174.56 and a 200-day moving average of $171.90.

Standex International (NYSE:SXI) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.04. Standex International had a net margin of 10.14% and a return on equity of 13.60%. The firm had revenue of $180.19 million during the quarter, compared to the consensus estimate of $181.35 million. During the same quarter last year, the firm earned $1.76 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts expect that Standex International will post 7.67 EPS for the current year.

Standex International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Friday, August 9th. Standex International’s dividend payout ratio (DPR) is currently 19.42%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP acquired a new stake in Standex International in the first quarter worth approximately $52,565,000. Norges Bank acquired a new position in Standex International in the 4th quarter worth approximately $12,560,000. Champlain Investment Partners LLC grew its position in Standex International by 4.6% during the 1st quarter. Champlain Investment Partners LLC now owns 637,162 shares of the industrial products company’s stock worth $116,104,000 after purchasing an additional 27,990 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Standex International in the second quarter valued at $4,299,000. Finally, Lord Abbett & CO. LLC acquired a new stake in Standex International during the 1st quarter worth about $4,647,000. Institutional investors and hedge funds own 90.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on SXI shares. DA Davidson upped their price target on shares of Standex International from $203.00 to $211.00 and gave the company a “buy” rating in a research note on Monday, August 5th. StockNews.com raised Standex International from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Benchmark reiterated a “buy” rating and set a $210.00 price target on shares of Standex International in a research report on Friday, August 2nd. Finally, Barrington Research reaffirmed an “outperform” rating and set a $180.00 target price on shares of Standex International in a report on Tuesday, May 28th.

Standex International Company Profile

Standex International Corporation, together with subsidiaries, engages in the manufacture and sale of various products and services for commercial and industrial markets in the United States and internationally. It operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.