Anchor Capital Management’s Top 5 Stock Picks in 2024

4. Standex International Corporation (NYSE:SXI)

Value of Anchor Capital Management’s 13F Position (3/31/2023): $10.4 million

Number of Hedge Fund Shareholders (12/31/2024): 11

Anchor Capital Management cut its stake in Standex International Corporation (NYSE:SXI) by 37% during Q1 to 56,937 shares. Other hedge funds have been cautious with SXI shares in recent quarters, as smart money ownership of the company dropped by 27% during the second half of 2023.

Shares of the diversified manufacturer of hydraulics, electronics, and food service equipment, among other things, hit a 52-week high in late March, which prompted some insider selling. Standex International Corporation (NYSE:SXI) earned $1.33 per share in its fiscal Q3 of 2024, beating estimates, but revenue was down 3.8% year-over-year to $177.3 million. Adjusted gross margin was again strong at nearly 40%.

Standex International Corporation (NYSE:SXI) declared a $0.30 per share quarterly dividend on April 25, in line with its previous payout. The dividend will be paid out on May 24 to shareholders of record as of May 10 and will represent the 239^th consecutive quarter that the company has made a dividend payment. Its quarterly dividend yields about 0.7%.