Standex International Corporation (NYSE:SXI) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its holdings in shares of Standex International Corporation (NYSE:SXI) by 25.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,034 shares of the industrial products company’s stock after selling 1,024 shares during the period. PNC Financial Services Group Inc.’s holdings in Standex International were worth $490,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. LPL Financial LLC boosted its holdings in shares of Standex International by 92.1% during the 1st quarter. LPL Financial LLC now owns 9,232 shares of the industrial products company’s stock worth $1,490,000 after purchasing an additional 4,425 shares during the last quarter. Assetmark Inc. boosted its stake in Standex International by 8.4% during the first quarter. Assetmark Inc. now owns 10,800 shares of the industrial products company’s stock worth $1,743,000 after buying an additional 841 shares during the last quarter. Cetera Investment Advisers boosted its stake in Standex International by 7.4% during the first quarter. Cetera Investment Advisers now owns 4,176 shares of the industrial products company’s stock worth $674,000 after buying an additional 289 shares during the last quarter. Wakefield Asset Management LLLP grew its holdings in Standex International by 8.5% in the 1st quarter. Wakefield Asset Management LLLP now owns 5,850 shares of the industrial products company’s stock valued at $944,000 after buying an additional 458 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Standex International in the 1st quarter worth $445,000. Institutional investors and hedge funds own 90.35% of the company’s stock.

Standex International Stock Up 6.4%

Shares of NYSE:SXI opened at $209.42 on Thursday. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 45.13, a PEG ratio of 2.51 and a beta of 1.11. Standex International Corporation has a 12-month low of $128.85 and a 12-month high of $212.65. The business has a 50-day moving average price of $165.61 and a 200 day moving average price of $164.62. The company has a current ratio of 2.88, a quick ratio of 2.10 and a debt-to-equity ratio of 0.78.

Standex International (NYSE:SXI) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.18. The business had revenue of $222.05 million during the quarter, compared to analysts’ expectations of $214.44 million. Standex International had a net margin of 7.06% and a return on equity of 13.92%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the business earned $1.76 earnings per share. Sell-side analysts expect that Standex International Corporation will post 7.9 EPS for the current year.

Standex International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.28 dividend on an annualized basis and a yield of 0.6%. Standex International’s payout ratio is presently 27.59%.

Analyst Ratings Changes

SXI has been the topic of several recent research reports. Wall Street Zen cut shares of Standex International from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. DA Davidson boosted their target price on shares of Standex International from $200.00 to $219.00 and gave the company a “buy” rating in a report on Monday, August 4th. Barrington Research reissued an “outperform” rating and issued a $220.00 price target on shares of Standex International in a research note on Tuesday, July 29th. Finally, Roth Capital reaffirmed a “buy” rating and set a $205.00 price target (up previously from $175.00) on shares of Standex International in a research report on Monday, August 4th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $223.50.

Standex International 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.