Standex Int’l (NYSE:SXI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “Standex International Corp. is a diversified manufacturer producing and marketing a wide variety of useful, quality products. The company enjoys a broad and well-balanced earnings base by virtue of its strong market position in selected areas of operation. (PRESS RELEASE) “
Shares of SXI opened at $104.30 on Wednesday. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 20.29 and a beta of 1.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.59 and a current ratio of 2.38. Standex Int’l has a 1 year low of $89.40 and a 1 year high of $114.20.
Standex Int’l (NYSE:SXI) last issued its earnings results on Tuesday, August 28th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.01. The firm had revenue of $227.51 million for the quarter, compared to analyst estimates of $232.73 million. Standex Int’l had a return on equity of 15.19% and a net margin of 4.21%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 earnings per share. research analysts anticipate that Standex Int’l will post 6 earnings per share for the current fiscal year.
In other news, VP Thomas D. Debyle sold 2,000 shares of Standex Int’l stock in a transaction on Monday, September 10th. The stock was sold at an average price of $110.10, for a total value of $220,200.00. Following the completion of the transaction, the vice president now directly owns 65,343 shares in the company, valued at $7,194,264.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.64% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank grew its position in shares of Standex Int’l by 0.6% in the second quarter. Comerica Bank now owns 83,321 shares of the industrial products company’s stock valued at $8,369,000 after purchasing an additional 498 shares in the last quarter. Barclays PLC grew its position in shares of Standex Int’l by 13.2% in the first quarter. Barclays PLC now owns 4,804 shares of the industrial products company’s stock valued at $459,000 after purchasing an additional 561 shares in the last quarter. Legal & General Group Plc grew its position in shares of Standex Int’l by 2.4% in the first quarter. Legal & General Group Plc now owns 26,474 shares of the industrial products company’s stock valued at $2,518,000 after purchasing an additional 629 shares in the last quarter. Rhumbline Advisers grew its position in shares of Standex Int’l by 1.8% in the second quarter. Rhumbline Advisers now owns 36,394 shares of the industrial products company’s stock valued at $3,719,000 after purchasing an additional 630 shares in the last quarter. Finally, MetLife Investment Advisors LLC grew its position in shares of Standex Int’l by 12.4% in the second quarter. MetLife Investment Advisors LLC now owns 5,879 shares of the industrial products company’s stock valued at $601,000 after purchasing an additional 649 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.
Standex Int’l Company Profile
Standex International Corporation manufactures and sells various products and services for commercial and industrial markets in the United States and internationally. The Food Service Equipment segment offers refrigerated cabinets, cases, display units, walk-in coolers, and freezers; commercial ovens, char broilers, ranges, griddles, toasters, warmers, roller grills, and countertop merchandisers; commercial cook and hold units, rotisseries, pressure fryers, and baking equipment; commercial deep fryers; merchandizing display cases; pump systems; and cold storage equipment.
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