Allspring Global Investments Holdings LLC Has $8.46 Million Stock Holdings in Standex International Co. (NYSE:SXI)

Allspring Global Investments Holdings LLC reduced its position in shares of Standex International Co. (NYSE:SXI) by 48.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,486 shares of the industrial products company’s stock after selling 49,682 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.45% of Standex International worth $8,458,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SXI. Principal Securities Inc. acquired a new position in shares of Standex International during the 4th quarter worth $26,000. GAMMA Investing LLC raised its stake in Standex International by 322.2% during the first quarter. GAMMA Investing LLC now owns 190 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 145 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of Standex International by 341.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 322 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 249 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Standex International by 95.5% in the 2nd quarter. Fifth Third Bancorp now owns 733 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 358 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of Standex International during the 1st quarter valued at approximately $210,000. 90.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Standex International Stock Performance

NYSE SXI opened at $178.36 on Friday. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 2.53 and a beta of 1.04. The company has a quick ratio of 2.69, a current ratio of 3.37 and a debt-to-equity ratio of 0.24. Standex International Co. has a twelve month low of $130.04 and a twelve month high of $191.18. The stock has a fifty day simple moving average of $172.17 and a 200 day simple moving average of $171.39.

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

Standex International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Friday, August 9th. Standex International’s dividend payout ratio is currently 19.42%.

About Standex International

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.