Standex International Co. (NYSE:SXI) Short Interest Down 16.9% in January

Standex International Co. (NYSE:SXI) saw a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 205,500 shares, a decrease of 16.9% from the December 31st total of 247,400 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average daily volume of 47,600 shares, the days-to-cover ratio is currently 4.3 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SXI shares. Barrington Research restated an “outperform” rating and set a $220.00 price objective on shares of Standex International in a report on Monday. StockNews.com cut Standex International from a “buy” rating to a “hold” rating in a report on Monday. Finally, Benchmark lifted their target price on Standex International from $210.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th.

Insiders Place Their Bets

In other Standex International news, CFO Ademir Sarcevic sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $199.81, for a total transaction of $319,696.00. Following the completion of the sale, the chief financial officer now directly owns 18,086 shares of the company’s stock, valued at $3,613,763.66. This represents a 8.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas J. Hansen sold 1,661 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.41, for a total value of $349,491.01. Following the transaction, the director now directly owns 11,431 shares of the company’s stock, valued at approximately $2,405,196.71. This trade represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Standex International

Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can grew its stake in Standex International by 121.3% during the second quarter. Bank of Montreal Can now owns 3,430 shares of the industrial products company’s stock worth $566,000 after buying an additional 1,880 shares during the last quarter. Millennium Management LLC bought a new position in Standex International in the second quarter valued at approximately $4,299,000. The Manufacturers Life Insurance Company boosted its stake in Standex International by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 6,471 shares of the industrial products company’s stock valued at $1,043,000 after acquiring an additional 180 shares during the last quarter. Truist Financial Corp boosted its stake in Standex International by 22.8% in the second quarter. Truist Financial Corp now owns 4,365 shares of the industrial products company’s stock valued at $703,000 after acquiring an additional 810 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Standex International by 4.1% in the third quarter. Handelsbanken Fonder AB now owns 127,700 shares of the industrial products company’s stock valued at $23,341,000 after acquiring an additional 5,000 shares during the last quarter. 90.35% of the stock is currently owned by institutional investors.

Standex International Price Performance

NYSE:SXI traded up $5.52 during midday trading on Monday, hitting $188.22. 111,960 shares of the stock were exchanged, compared to its average volume of 54,531. Standex International has a one year low of $147.12 and a one year high of $212.65. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 41.10, a P/E/G ratio of 2.59 and a beta of 1.07. The business has a 50-day moving average price of $193.80 and a two-hundred day moving average price of $185.52. The company has a current ratio of 3.55, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23.

Standex International (NYSE:SXI) last announced its earnings results on Thursday, January 30th. The industrial products company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.23. Standex International had a net margin of 7.59% and a return on equity of 13.40%. Sell-side analysts predict that Standex International will post 7.84 EPS for the current year.

Standex International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Friday, February 14th. Standex International’s dividend payout ratio is presently 27.95%.

About Standex International

Standex International Corporation, together with subsidiaries, engages in the manufacture and sale of 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.