Principal Financial Group Inc. cut its stake in Standex International Co. (NYSE:SXI – Free Report) by 5.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,330 shares of the industrial products company’s stock after selling 4,152 shares during the period. Principal Financial Group Inc. owned approximately 0.58% of Standex International worth $9,808,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new position in Standex International during the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC increased its stake in shares of Standex International by 230.7% in the first quarter. Tower Research Capital LLC TRC now owns 334 shares of the industrial products company’s stock worth $41,000 after buying an additional 233 shares during the last quarter. Quantbot Technologies LP bought a new stake in Standex International during the first quarter valued at $69,000. UBS Group AG increased its stake in Standex International by 565.8% during the third quarter. UBS Group AG now owns 779 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 662 shares during the last quarter. Finally, Bessemer Group Inc. bought a new stake in Standex International during the first quarter valued at $106,000. 88.80% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have recently commented on SXI shares. StockNews.com started coverage on shares of Standex International in a research report on Thursday, October 5th. They set a “strong-buy” rating for the company. Benchmark reduced their price objective on shares of Standex International from $205.00 to $190.00 and set a “buy” rating for the company in a report on Monday, November 6th.
Insiders Place Their Bets
In other Standex International news, CFO Ademir Sarcevic sold 3,100 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $149.51, for a total transaction of $463,481.00. Following the sale, the chief financial officer now owns 16,499 shares in the company, valued at approximately $2,466,765.49. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Standex International news, Director Barbara Joanne Edwards sold 970 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $155.77, for a total transaction of $151,096.90. Following the sale, the director now owns 5,564 shares in the company, valued at approximately $866,704.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Ademir Sarcevic sold 3,100 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $149.51, for a total value of $463,481.00. Following the completion of the transaction, the chief financial officer now owns 16,499 shares in the company, valued at approximately $2,466,765.49. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,425 shares of company stock worth $1,095,857. Company insiders own 2.28% of the company’s stock.
Standex International Price Performance
Shares of NYSE SXI opened at $136.69 on Tuesday. Standex International Co. has a twelve month low of $96.32 and a twelve month high of $168.81. The company has a current ratio of 3.19, a quick ratio of 2.44 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 2.06 and a beta of 1.11. The firm has a 50-day moving average of $143.82 and a two-hundred day moving average of $144.60.
Standex International Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Tuesday, November 7th. This is an increase from Standex International’s previous quarterly dividend of $0.28. Standex International’s payout ratio is presently 10.24%.
Standex International 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.
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