Legal & General Group Plc Takes $9.86 Million Position in Standex International Corporation $SXI

Legal & General Group Plc acquired a new stake in Standex International Corporation (NYSE:SXI) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 27,574 shares of the industrial products company’s stock, valued at approximately $9,862,000.

A number of other large investors have also bought and sold shares of SXI. BlackRock Inc. acquired a new stake in shares of Standex International during the second quarter worth $640,120,000. Wasatch Advisors LP boosted its stake in Standex International by 61.3% in the 4th quarter. Wasatch Advisors LP now owns 1,369,859 shares of the industrial products company’s stock worth $297,643,000 after purchasing an additional 520,506 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Standex International in the 2nd quarter worth $149,891,000. Bank of New York Mellon Corp bought a new position in Standex International during the 2nd quarter worth about $65,337,000. Finally, T. Rowe Price Investment Management Inc. increased its holdings in Standex International by 73.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 223,581 shares of the industrial products company’s stock worth $48,580,000 after purchasing an additional 94,415 shares in the last quarter. 90.35% of the stock is owned by institutional investors.

Standex International Stock Performance

Shares of SXI stock opened at $289.20 on Tuesday. The stock has a market cap of $3.51 billion, a P/E ratio of 33.36, a P/E/G ratio of 3.33 and a beta of 1.06. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.40 and a quick ratio of 1.84. The company has a fifty day moving average price of $315.75 and a two-hundred day moving average price of $284.71. Standex International Corporation has a one year low of $197.00 and a one year high of $363.89.

Standex International (NYSE:SXI) last released its quarterly earnings data on Friday, July 31st. The industrial products company reported $2.45 earnings per share 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 company had revenue of $228.25 million for the quarter, compared to analyst estimates of $226.47 million. During the same period in the previous year, the business earned $2.28 EPS. Standex International’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, equities analysts predict that Standex International Corporation will post 9.96 EPS for the current year.

Standex International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, August 7th. Standex International’s payout ratio is currently 15.69%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SXI. DA Davidson restated a “buy” rating and issued a $350.00 price target on shares of Standex International in a report on Thursday, August 20th. Weiss Ratings downgraded Standex International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Finally, Zacks Research upgraded Standex International from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Standex International currently has an average rating of “Moderate Buy” and an average price target of $298.67.

About Standex International

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.