Raymond James & Associates Increases Stock Holdings in Standex International Co. (NYSE:SXI)

Raymond James & Associates lifted its position in Standex International Co. (NYSE:SXI) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,661 shares of the industrial products company’s stock after buying an additional 301 shares during the quarter. Raymond James & Associates’ holdings in Standex International were worth $2,005,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SXI. Norges Bank purchased a new stake in shares of Standex International in the fourth quarter worth about $12,607,000. Invesco Ltd. lifted its holdings in shares of Standex International by 187.9% in the first quarter. Invesco Ltd. now owns 112,634 shares of the industrial products company’s stock worth $11,254,000 after buying an additional 73,508 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Standex International by 205.8% in the first quarter. Royce & Associates LP now owns 62,299 shares of the industrial products company’s stock worth $7,628,000 after buying an additional 41,927 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Standex International by 371.2% in the second quarter. Renaissance Technologies LLC now owns 49,000 shares of the industrial products company’s stock worth $4,154,000 after buying an additional 38,600 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Standex International by 97.4% in the second quarter. JPMorgan Chase & Co. now owns 67,665 shares of the industrial products company’s stock valued at $5,736,000 after purchasing an additional 33,389 shares in the last quarter. 90.35% of the stock is owned by hedge funds and other institutional investors.

Standex International Trading Down 0.9 %

Shares of SXI opened at $169.28 on Wednesday. The firm’s 50 day simple moving average is $171.55 and its 200 day simple moving average is $154.49. The company has a market capitalization of $2.01 billion, a P/E ratio of 14.57, a P/E/G ratio of 2.63 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.34 and a quick ratio of 2.58. Standex International Co. has a 1-year low of $117.24 and a 1-year high of $184.18.

Standex International (NYSE:SXI) last issued its quarterly earnings results on Friday, February 2nd. The industrial products company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Standex International had a net margin of 18.80% and a return on equity of 13.63%. The business had revenue of $178.40 million for the quarter, compared to analysts’ expectations of $180.25 million. During the same period last year, the business earned $1.74 earnings per share. The business’s quarterly revenue was down 5.0% on a year-over-year basis. Sell-side analysts forecast that Standex International Co. will post 7.23 earnings per share for the current fiscal year.

Standex International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Monday, February 12th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date was Friday, February 9th. Standex International’s payout ratio is currently 10.33%.

Wall Street Analyst Weigh In

SXI has been the topic of a number of recent analyst reports. DA Davidson raised their target price on shares of Standex International from $165.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. StockNews.com downgraded shares of Standex International from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 5th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Standex International presently has an average rating of “Buy” and a consensus target price of $195.00.

Insider Transactions at Standex International

In other news, Director Barbara Joanne Edwards sold 1,661 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $152.19, for a total value of $252,787.59. Following the transaction, the director now owns 4,811 shares in the company, valued at $732,186.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Ademir Sarcevic sold 2,428 shares of Standex International stock in a transaction on Friday, February 9th. The shares were sold at an average price of $154.31, for a total value of $374,664.68. Following the sale, the chief financial officer now owns 12,071 shares in the company, valued at $1,862,676.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Barbara Joanne Edwards sold 1,661 shares of Standex International stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $152.19, for a total transaction of $252,787.59. Following the completion of the sale, the director now owns 4,811 shares in the company, valued at approximately $732,186.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,084 shares of company stock worth $2,980,448. Insiders own 2.28% of the company’s stock.

About Standex International

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.