Standex Int’l Corp. (NYSE:SXI) Sees Significant Drop in Short Interest

Standex Int’l Corp. (NYSE:SXI) was the recipient of a large decrease in short interest during the month of February. As of February 14th, there was short interest totalling 95,300 shares, a decrease of 31.1% from the January 30th total of 138,300 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average trading volume of 49,500 shares, the short-interest ratio is presently 1.9 days.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Champlain Investment Partners LLC grew its holdings in shares of Standex Int’l by 10.7% in the 4th quarter. Champlain Investment Partners LLC now owns 812,330 shares of the industrial products company’s stock worth $64,458,000 after acquiring an additional 78,550 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Standex Int’l by 4.1% in the 4th quarter. Janus Henderson Group PLC now owns 534,073 shares of the industrial products company’s stock worth $42,379,000 after acquiring an additional 21,256 shares during the period. FMR LLC grew its holdings in shares of Standex Int’l by 11.0% in the 1st quarter. FMR LLC now owns 421,338 shares of the industrial products company’s stock worth $30,926,000 after acquiring an additional 41,723 shares during the period. State Street Corp grew its holdings in shares of Standex Int’l by 6.9% in the 4th quarter. State Street Corp now owns 394,446 shares of the industrial products company’s stock worth $31,299,000 after acquiring an additional 25,621 shares during the period. Finally, Copeland Capital Management LLC grew its holdings in shares of Standex Int’l by 25.7% in the 4th quarter. Copeland Capital Management LLC now owns 288,995 shares of the industrial products company’s stock worth $22,932,000 after acquiring an additional 59,104 shares during the period. Institutional investors own 89.20% of the company’s stock.

SXI traded up $0.07 on Wednesday, hitting $68.42. 23,644 shares of the company traded hands, compared to its average volume of 44,367. The company has a 50 day moving average of $74.95 and a 200-day moving average of $74.02. The company has a quick ratio of 1.61, a current ratio of 2.36 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $884.14 million, a PE ratio of 13.50 and a beta of 1.43. Standex Int’l has a 12-month low of $59.28 and a 12-month high of $83.18.

Standex Int’l (NYSE:SXI) last released its earnings results on Monday, February 3rd. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.02. Standex Int’l had a return on equity of 9.96% and a net margin of 8.02%. The company had revenue of $190.59 million for the quarter, compared to analysts’ expectations of $194.98 million. During the same quarter in the previous year, the firm posted $0.98 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. On average, research analysts anticipate that Standex Int’l will post 4.35 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Monday, February 10th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Friday, February 7th. Standex Int’l’s payout ratio is 21.84%.

SXI has been the subject of several analyst reports. ValuEngine downgraded Standex Int’l from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. TheStreet downgraded Standex Int’l from a “b-” rating to a “c+” rating in a research note on Thursday, February 13th. Finally, Zacks Investment Research raised Standex Int’l from a “sell” rating to a “hold” rating in a research note on Saturday.

About Standex Int’l

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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