ProShare Advisors LLC Trims Stake in Standex International Co. (NYSE:SXI)

Posted by Defense World Staff on Sep 17th, 2023

ProShare Advisors LLC reduced its stake in shares of Standex International Co. (NYSE:SXI – Free Report) by 9.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,092 shares of the industrial products company’s stock after selling 8,069 shares during the quarter. ProShare Advisors LLC owned 0.66% of Standex International worth $9,684,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Legato Capital Management LLC raised its position in Standex International by 21.4% during the first quarter. Legato Capital Management LLC now owns 4,124 shares of the industrial products company’s stock valued at $505,000 after acquiring an additional 727 shares in the last quarter. JPMorgan Chase & Co. raised its position in Standex International by 10.7% during the first quarter. JPMorgan Chase & Co. now owns 86,483 shares of the industrial products company’s stock valued at $10,589,000 after acquiring an additional 8,331 shares in the last quarter. State Street Corp raised its position in Standex International by 1.7% during the first quarter. State Street Corp now owns 478,330 shares of the industrial products company’s stock valued at $58,567,000 after acquiring an additional 7,852 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Standex International during the first quarter valued at approximately $1,288,000. Finally, Geode Capital Management LLC raised its position in Standex International by 5.9% during the first quarter. Geode Capital Management LLC now owns 229,809 shares of the industrial products company’s stock valued at $28,138,000 after acquiring an additional 12,802 shares in the last quarter. 88.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com assumed coverage on Standex International in a research report on Thursday, August 17th. They issued a “strong-buy” rating for the company. Benchmark restated a “buy” rating and issued a $205.00 price objective on shares of Standex International in a research report on Monday, August 7th. Finally, William Blair restated an “outperform” rating on shares of Standex International in a research report on Tuesday, July 18th.

Read Our Latest Stock Report on SXI

Standex International Stock Performance

Shares of NYSE:SXI opened at $144.77 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.43 and a quick ratio of 2.73. The business’s 50 day moving average price is $150.72 and its 200-day moving average price is $136.38. The firm has a market capitalization of $1.71 billion, a PE ratio of 12.41, a P/E/G ratio of 2.12 and a beta of 1.17. Standex International Co. has a 1 year low of $80.88 and a 1 year high of $168.81.

Standex International (NYSE:SXI – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.09. The firm had revenue of $188.33 million for the quarter, compared to analyst estimates of $184.81 million. Standex International had a return on equity of 14.44% and a net margin of 18.76%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 earnings per share. As a group, equities research analysts expect that Standex International Co. will post 7.72 earnings per share for the current fiscal year.

Standex International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Wednesday, August 9th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Tuesday, August 8th. Standex International’s dividend payout ratio is presently 9.60%.

Insider Transactions at Standex International

In other news, CFO Ademir Sarcevic sold 1,355 shares of Standex International stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $157.21, for a total value of $213,019.55. Following the sale, the chief financial officer now directly owns 9,929 shares of the company’s stock, valued at $1,560,938.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Standex International news, CAO Sean C. Valashinas sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $155.97, for a total transaction of $155,970.00. Following the transaction, the chief accounting officer now owns 4,832 shares of the company’s stock, valued at $753,647.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ademir Sarcevic sold 1,355 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $157.21, for a total value of $213,019.55. Following the transaction, the chief financial officer now directly owns 9,929 shares in the company, valued at approximately $1,560,938.09. The disclosure for this sale can be found here. Insiders have sold 6,425 shares of company stock valued at $983,567 over the last ninety days. Insiders own 2.28% of the company’s stock.

Standex International Profile

(Free Report)

Standex International Corporation, together with subsidiaries, manufactures and sells 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.