Standex International Co. (NYSE:SXI) Short Interest Down 21.4% in August

Standex International Co. (NYSE:SXI) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 172,400 shares, a drop of 21.4% from the August 15th total of 219,400 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average daily trading volume, of 51,700 shares, the days-to-cover ratio is currently 3.3 days.

Standex International Trading Up 2.7 %

Shares of SXI stock traded up $4.48 on Friday, reaching $171.90. 33,271 shares of the stock were exchanged, compared to its average volume of 33,164. The stock has a market cap of $2.05 billion, a PE ratio of 27.82, a P/E/G ratio of 2.43 and a beta of 1.03. Standex International has a one year low of $130.04 and a one year high of $191.18. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.37 and a quick ratio of 2.69. The stock has a 50 day moving average price of $174.27 and a 200 day moving average price of $171.88.

Standex International (NYSE:SXI) last released its earnings results on Thursday, August 1st. The industrial products company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.04. Standex International had a return on equity of 13.60% and a net margin of 10.14%. The company had revenue of $180.19 million during the quarter, compared to the consensus estimate of $181.35 million. During the same quarter in the previous year, the company posted $1.76 earnings per share. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. Equities research analysts forecast that Standex International will post 7.67 EPS for the current fiscal year.

Standex International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.20 dividend on an annualized basis and a yield of 0.70%. Standex International’s payout ratio is 19.42%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SXI. Principal Securities Inc. bought a new stake in Standex International during the fourth quarter worth about $26,000. Canada Pension Plan Investment Board bought a new stake in Standex International in the second quarter valued at approximately $32,000. GAMMA Investing LLC raised its stake in Standex International by 322.2% in the first quarter. GAMMA Investing LLC now owns 190 shares of the industrial products company’s stock valued at $35,000 after buying an additional 145 shares during the period. Fifth Third Bancorp raised its stake in Standex International by 95.5% in the second quarter. Fifth Third Bancorp now owns 733 shares of the industrial products company’s stock valued at $118,000 after buying an additional 358 shares during the period. Finally, Tidal Investments LLC bought a new stake in Standex International in the first quarter valued at approximately $210,000. 90.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SXI has been the topic of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $180.00 target price on shares of Standex International in a report on Tuesday, May 28th. Benchmark reissued a “buy” rating and set a $210.00 price objective on shares of Standex International in a report on Friday, August 2nd. DA Davidson lifted their price objective on Standex International from $203.00 to $211.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, StockNews.com raised Standex International from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th.

Standex International Company Profile

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.