First Hawaiian Bank Acquires Shares of 2,514 Standex International Co. (NYSE:SXI)

First Hawaiian Bank bought a new stake in Standex International Co. (NYSE:SXI) during the 2nd quarter, Holdings Channel reports. The firm bought 2,514 shares of the industrial products company’s stock, valued at approximately $405,000.

A number of other institutional investors have also modified their holdings of the stock. Wasatch Advisors LP purchased a new position in Standex International in the first quarter worth $52,565,000. Norges Bank purchased a new position in shares of Standex International in the 4th quarter valued at about $12,560,000. Cerity Partners LLC acquired a new stake in shares of Standex International in the fourth quarter valued at about $6,089,000. Champlain Investment Partners LLC boosted its holdings in Standex International by 4.6% during the first quarter. Champlain Investment Partners LLC now owns 637,162 shares of the industrial products company’s stock worth $116,104,000 after buying an additional 27,990 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Standex International during the first quarter worth about $4,647,000. Institutional investors and hedge funds own 90.35% of the company’s stock.

Standex International Price Performance

Shares of SXI stock traded down $0.79 during trading hours on Tuesday, hitting $170.64. The company’s stock had a trading volume of 30,791 shares, compared to its average volume of 62,825. The company has a current ratio of 3.43, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24. Standex International Co. has a twelve month low of $130.04 and a twelve month high of $191.18. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 2.53 and a beta of 1.04. The business has a fifty day moving average of $169.27 and a 200-day moving average of $168.92.

Standex International (NYSE:SXI) last announced its earnings results on Thursday, August 1st. The industrial products company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.04. Standex International had a return on equity of 13.65% and a net margin of 10.14%. The firm had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $181.35 million. During the same quarter in the prior year, the firm earned $1.76 EPS. Standex International’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that Standex International Co. will post 7.84 EPS for the current year.

Standex International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, August 9th. Standex International’s payout ratio is 19.42%.

Insider Buying and Selling at Standex International

In related news, Director Charles H. Cannon, Jr. sold 2,460 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $178.02, for a total transaction of $437,929.20. Following the sale, the director now owns 862 shares in the company, valued at $153,453.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.28% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. DA Davidson lifted their price target on shares of Standex International from $203.00 to $211.00 and gave the company a “buy” rating in a research report on Monday. Barrington Research reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Standex International in a report on Tuesday, May 28th. Finally, Benchmark reissued a “buy” rating and issued a $210.00 target price on shares of Standex International in a report on Friday.

Standex International Company Profile

Standex International Corporation, together with subsidiaries, manufactures and sells 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.