Here is What Hedge Funds Think About Standex Int’l Corp. (SXI)

As aggregate interest increased, key money managers were leading the bulls’ herd. Millennium Management, managed by Israel Englander, initiated the biggest position in Standex Int’l Corp. (NYSE:SXI). Millennium Management had $5.4 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also initiated a $3.7 million position during the quarter. The other funds with new positions in the stock are Joel Greenblatt’s Gotham Asset Management and Chao Ku’s Nine Chapters Capital Management.

Let’s check out hedge fund activity in other stocks similar to Standex Int’l Corp. (NYSE:SXI). We will take a look at Insight Enterprises, Inc. (NASDAQ:NSIT), Atwood Oceanics, Inc. (NYSE:ATW), Ferro Corporation (NYSE:FOE), and Linn Energy LLC (NASDAQ:LINE). This group of stocks’ market valuations are similar to SXI’s market valuation.

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $125 million. In SXI’s case, this figure was $30 million. Ferro Corporation (NYSE:FOE) is the most popular stock in this table, while Linn Energy LLC (NASDAQ:LINE) is the least popular one with only 5 bullish hedge fund positions. Standex Int’l Corp. (NYSE:SXI) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard FOE might be a better candidate to consider a long position.