SG Americas Securities LLC Acquires 2,395 Shares of Standex Int’l Corp. (SXI)
SG Americas Securities LLC boosted its holdings in shares of Standex Int’l Corp. (NYSE:SXI) by 185.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,684 shares of the industrial products company’s stock after acquiring an additional 2,395 shares during the quarter. SG Americas Securities LLC’s holdings in Standex Int’l were worth $377,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of SXI. Ramsey Quantitative Systems grew its holdings in Standex Int’l by 135.6% during the second quarter. Ramsey Quantitative Systems now owns 1,237 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 712 shares during the last quarter. Amalgamated Bank acquired a new position in Standex Int’l during the second quarter valued at approximately $208,000. Profund Advisors LLC acquired a new position in Standex Int’l during the first quarter valued at approximately $204,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Standex Int’l during the second quarter valued at approximately $277,000. Finally, Engineers Gate Manager LP acquired a new position in Standex Int’l during the second quarter valued at approximately $480,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded Standex Int’l from a “hold” rating to a “sell” rating in a report on Wednesday, September 26th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $122.33.
Standex Int’l (NYSE:SXI) last announced its quarterly earnings data on Tuesday, August 28th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.01. The business had revenue of $227.51 million for the quarter, compared to the consensus estimate of $232.73 million. Standex Int’l had a net margin of 4.21% and a return on equity of 15.19%. Standex Int’l’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $1.40 earnings per share. As a group, research analysts forecast that Standex Int’l Corp. will post 6 earnings per share for the current fiscal year.
In other news, VP Thomas D. Debyle sold 2,000 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $110.10, for a total value of $220,200.00. Following the sale, the vice president now owns 65,343 shares in the company, valued at $7,194,264.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.64% of the company’s stock.
Standex Int’l Profile
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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