Fmr LLC Increases Position in Standex International Co. (NYSE:SXI)

Fmr LLC grew its holdings in Standex International Co. (NYSE:SXI) by 23.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,928 shares of the industrial products company’s stock after purchasing an additional 365 shares during the quarter. Fmr LLC’s holdings in Standex International were worth $352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its position in Standex International by 5.1% during the second quarter. Envestnet Asset Management Inc. now owns 98,671 shares of the industrial products company’s stock worth $15,901,000 after buying an additional 4,768 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Standex International in the 2nd quarter worth $4,299,000. Copeland Capital Management LLC raised its holdings in shares of Standex International by 0.8% during the 3rd quarter. Copeland Capital Management LLC now owns 556,244 shares of the industrial products company’s stock worth $101,670,000 after acquiring an additional 4,281 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Standex International by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 143,883 shares of the industrial products company’s stock valued at $26,299,000 after acquiring an additional 3,844 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Standex International by 4.1% in the third quarter. Handelsbanken Fonder AB now owns 127,700 shares of the industrial products company’s stock valued at $23,341,000 after purchasing an additional 5,000 shares during the period. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Standex International

In other news, CFO Ademir Sarcevic sold 3,800 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $181.64, for a total transaction of $690,232.00. Following the completion of the sale, the chief financial officer now owns 19,686 shares in the company, valued at approximately $3,575,765.04. This represents a 16.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Hansen sold 1,661 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.41, for a total value of $349,491.01. Following the transaction, the director now directly owns 11,431 shares in the company, valued at approximately $2,405,196.71. This represents a 12.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,061 shares of company stock valued at $1,359,419 over the last quarter. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on SXI. Barrington Research reaffirmed an “outperform” rating and set a $220.00 target price on shares of Standex International in a research note on Wednesday, October 30th. Benchmark upped their price objective on Standex International from $210.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th.

Standex International Stock Up 0.1 %

Shares of SXI opened at $191.99 on Friday. The company has a current ratio of 3.55, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The firm has a market cap of $2.32 billion, a P/E ratio of 31.47, a price-to-earnings-growth ratio of 2.88 and a beta of 1.05. The company’s 50-day moving average price is $195.88 and its 200 day moving average price is $180.22. Standex International Co. has a 12-month low of $140.04 and a 12-month high of $212.65.

Standex International (NYSE:SXI) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.05. Standex International had a return on equity of 13.18% and a net margin of 10.26%. The company had revenue of $170.50 million during the quarter, compared to analysts’ expectations of $178.94 million. During the same period last year, the business posted $1.74 EPS. Standex International’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, sell-side analysts forecast that Standex International Co. will post 7.84 earnings per share for the current year.

Standex International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.32 per share. This is a boost from Standex International’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Friday, November 8th. Standex International’s payout ratio is 20.98%.

Standex International Profile

Standex International Corporation, together with subsidiaries, engages in the manufacture and sale of 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.