State of Alaska Department of Revenue Raises Holdings in Standex International Corporation $SXI

State of Alaska Department of Revenue increased its position in Standex International Corporation (NYSE:SXI) by 8.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,183 shares of the industrial products company’s stock after acquiring an additional 590 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Standex International worth $1,123,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SXI. Whittier Trust Co. increased its stake in shares of Standex International by 46.3% in the first quarter. Whittier Trust Co. now owns 218 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 69 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Standex International by 173.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 309 shares of the industrial products company’s stock worth $50,000 after buying an additional 196 shares during the period. TD Private Client Wealth LLC grew its stake in Standex International by 29.9% in the 1st quarter. TD Private Client Wealth LLC now owns 330 shares of the industrial products company’s stock valued at $53,000 after buying an additional 76 shares in the last quarter. Fifth Third Bancorp grew its stake in Standex International by 25.2% in the 1st quarter. Fifth Third Bancorp now owns 780 shares of the industrial products company’s stock valued at $126,000 after buying an additional 157 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Standex International during the 1st quarter valued at $144,000. 90.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SXI has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Standex International in a report on Saturday, September 27th. Barrington Research reaffirmed an “outperform” rating and set a $220.00 target price on shares of Standex International in a report on Tuesday, July 29th. Roth Capital reiterated a “buy” rating and set a $205.00 price target (up from $175.00) on shares of Standex International in a research report on Monday, August 4th. DA Davidson raised their price objective on shares of Standex International from $200.00 to $219.00 and gave the company a “buy” rating in a research report on Monday, August 4th. Finally, Wall Street Zen cut shares of Standex International from a “buy” rating to a “hold” rating in a research note on Saturday. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Standex International currently has an average rating of “Moderate Buy” and a consensus price target of $223.50.

Insiders Place Their Bets

In other news, CEO David A. Dunbar sold 16,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $200.00, for a total transaction of $3,200,000.00. Following the transaction, the chief executive officer directly owned 115,576 shares in the company, valued at approximately $23,115,200. This represents a 12.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas J. Hansen sold 2,992 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $202.60, for a total value of $606,179.20. Following the completion of the sale, the director owned 8,439 shares of the company’s stock, valued at $1,709,741.40. The trade was a 26.17% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,992 shares of company stock worth $6,171,179. 2.52% of the stock is owned by insiders.

Standex International Stock Performance

Shares of SXI opened at $214.47 on Monday. The company has a current ratio of 2.88, a quick ratio of 2.10 and a debt-to-equity ratio of 0.78. The stock has a 50-day moving average price of $200.62 and a 200-day moving average price of $169.79. The company has a market cap of $2.59 billion, a PE ratio of 46.22, a price-to-earnings-growth ratio of 2.72 and a beta of 1.15. Standex International Corporation has a 12-month low of $128.85 and a 12-month high of $218.62.

Standex International (NYSE:SXI) last announced its earnings results on Thursday, July 31st. The industrial products company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.18. Standex International had a net margin of 7.06% and a return on equity of 13.92%. The business had revenue of $222.05 million for the quarter, compared to the consensus estimate of $214.44 million. During the same period last year, the firm posted $1.76 earnings per share. Standex International’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, equities analysts forecast that Standex International Corporation will post 7.9 earnings per share for the current fiscal year.

Standex International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a $0.32 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.28 annualized dividend and a yield of 0.6%. Standex International’s payout ratio is 27.59%.

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.