Standex International Co. (NYSE:SXI) Short Interest Up 56.5% in August

Standex International Co. (NYSE:SXI) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 184,300 shares, an increase of 56.5% from the August 15th total of 117,800 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 56,800 shares, the days-to-cover ratio is presently 3.2 days.

Shares of NYSE:SXI traded up $1.70 during trading on Friday, hitting $97.67. 205,476 shares of the company’s stock traded hands, compared to its average volume of 55,275. Standex International has a 52 week low of $55.35 and a 52 week high of $108.17. The company has a current ratio of 2.61, a quick ratio of 1.97 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 32.89, a price-to-earnings-growth ratio of 1.23 and a beta of 1.26. The company has a 50-day moving average price of $94.63 and a 200-day moving average price of $96.52.

Standex International (NYSE:SXI) last announced its earnings results on Thursday, August 12th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.09. Standex International had a return on equity of 11.47% and a net margin of 5.56%. The business had revenue of $176.44 million for the quarter, compared to analyst estimates of $173.73 million. During the same quarter last year, the firm earned $0.65 EPS. On average, analysts predict that Standex International will post 5.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 25th. Investors of record on Monday, August 2nd were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Friday, July 30th. Standex International’s dividend payout ratio is presently 20.87%.

In other news, CFO Ademir Sarcevic sold 650 shares of the firm’s stock in a transaction on Friday, September 10th. The stock was sold at an average price of $96.06, for a total value of $62,439.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.32% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC increased its position in shares of Standex International by 12.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 97,580 shares of the industrial products company’s stock worth $9,261,000 after purchasing an additional 10,952 shares during the last quarter. Morgan Stanley increased its position in shares of Standex International by 134.8% during the 2nd quarter. Morgan Stanley now owns 78,417 shares of the industrial products company’s stock worth $7,444,000 after purchasing an additional 45,025 shares during the last quarter. Jefferies Group LLC acquired a new position in shares of Standex International during the 2nd quarter worth approximately $1,243,000. Thrivent Financial for Lutherans increased its position in shares of Standex International by 4.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 225,972 shares of the industrial products company’s stock worth $21,447,000 after purchasing an additional 8,880 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Standex International by 0.6% during the 2nd quarter. Wells Fargo & Company MN now owns 53,896 shares of the industrial products company’s stock worth $5,114,000 after purchasing an additional 320 shares during the last quarter. 88.23% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently commented on SXI. Zacks Investment Research upgraded Standex International from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a research report on Wednesday, August 18th. Barrington Research reiterated a “buy” rating and issued a $133.00 price objective on shares of Standex International in a research report on Friday.

Standex International Company Profile

Standex International Corp. manufactures products and services for commercial and industrial markets. It operates through the following segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions. The Electronics segment is engaged in manufacturing and selling of electronic components for applications throughout the end-user market spectrum.

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