Castleark Management LLC Invests $5.17 Million in Standex International Corporation $SXI

Castleark Management LLC acquired a new stake in Standex International Corporation (NYSE:SXI) in the second quarter, Holdings Channel.com reports. The fund acquired 14,470 shares of the industrial products company’s stock, valued at approximately $5,175,000.

Several other hedge funds have also recently bought and sold shares of SXI. Legal & General Group Plc purchased a new position in Standex International during the 2nd quarter valued at about $9,862,000. The Manufacturers Life Insurance Company purchased a new stake in Standex International during the second quarter worth about $2,136,000. Van Hulzen Asset Management LLC acquired a new stake in shares of Standex International during the second quarter worth about $1,354,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Standex International in the second quarter valued at approximately $149,891,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Standex International in the second quarter valued at approximately $131,000. Institutional investors and hedge funds own 90.35% of the company’s stock.

Standex International Stock Up 0.9%

SXI stock opened at $305.67 on Wednesday. The company’s 50 day moving average price is $316.77 and its 200 day moving average price is $283.42. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 3.38 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. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.84 and a current ratio of 2.40.

Standex International (NYSE:SXI) last issued its quarterly earnings results on Friday, July 31st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.10. Standex International had a net margin of 11.73% and a return on equity of 14.47%. The company had revenue of $228.25 million during the quarter, compared to the consensus estimate of $226.47 million. During the same quarter in the previous year, the firm earned $2.28 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities research analysts anticipate that Standex International Corporation will post 9.96 EPS for the current fiscal year.

Standex International Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SXI shares. Weiss Ratings lowered shares of Standex International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. DA Davidson restated a “buy” rating and issued a $350.00 price target on shares of Standex International in a research note on Thursday, August 20th. Finally, Zacks Research raised Standex International from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Standex International has a consensus rating of “Moderate Buy” and a consensus 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.