JPMorgan Chase & Co. Sells 17,549 Shares of Standex International Corporation $SXI

JPMorgan Chase & Co. trimmed its holdings in Standex International Corporation (NYSE:SXI) by 28.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,968 shares of the industrial products company’s stock after selling 17,549 shares during the period. JPMorgan Chase & Co. owned about 0.37% of Standex International worth $9,529,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its position in shares of Standex International by 6.8% during the third quarter. Nisa Investment Advisors LLC now owns 695 shares of the industrial products company’s stock worth $147,000 after purchasing an additional 44 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Standex International by 3.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 1,785 shares of the industrial products company’s stock worth $378,000 after purchasing an additional 66 shares during the period. SG Americas Securities LLC boosted its stake in Standex International by 3.5% in the 2nd quarter. SG Americas Securities LLC now owns 1,992 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 68 shares during the period. Huntington National Bank boosted its stake in Standex International by 52.6% in the 3rd quarter. Huntington National Bank now owns 238 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 82 shares during the period. Finally, AlphaQuest LLC boosted its stake in Standex International by 72.8% in the 3rd quarter. AlphaQuest LLC now owns 197 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 83 shares during the period. Institutional investors own 90.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SXI shares. Roth Mkm lifted their price objective on shares of Standex International from $260.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. Barrington Research restated an “outperform” rating and set a $260.00 target price on shares of Standex International in a research report on Monday, March 9th. DA Davidson raised their target price on shares of Standex International from $272.00 to $298.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Wall Street Zen downgraded shares of Standex International from a “buy” rating to a “hold” rating in a report on Sunday, February 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Standex International in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Standex International currently has an average rating of “Moderate Buy” and a consensus target price of $281.33.

Standex International Stock Up 0.1%

Shares of SXI opened at $250.93 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.87 and a quick ratio of 2.10. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 56.26 and a beta of 1.09. Standex International Corporation has a 1 year low of $128.85 and a 1 year high of $270.87. The business’s 50 day simple moving average is $253.70 and its 200-day simple moving average is $237.66.

Standex International (NYSE:SXI) last posted its earnings results on Friday, January 30th. The industrial products company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. The firm had revenue of $221.32 million during the quarter, compared to analyst estimates of $219.22 million. Standex International had a net margin of 6.20% and a return on equity of 14.29%. Standex International’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted $1.91 earnings per share. As a group, equities analysts expect that Standex International Corporation will post 7.9 earnings per share for the current fiscal year.

Standex International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a $0.34 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.5%. Standex International’s payout ratio is 30.49%.

Insider Buying and Selling at Standex International

In other news, CEO David A. Dunbar sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $255.94, for a total transaction of $3,839,100.00. Following the sale, the chief executive officer directly owned 88,973 shares in the company, valued at approximately $22,771,749.62. This represents a 14.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy L. Nemeth purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was bought at an average price of $245.00 per share, with a total value of $490,000.00. Following the transaction, the director owned 8,639 shares of the company’s stock, valued at $2,116,555. This represents a 30.13% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 16,013 shares of company stock valued at $4,101,963. Corporate insiders own 2.52% of the company’s stock.

About Standex International

Standex International Corporation is a diversified global manufacturer specializing in food service equipment, engineered components, and industrial products. Operating across multiple markets, the company designs and produces commercial cooking and warming solutions, precision-engraved nameplates and decorative products, fluid power hydraulics, and magnetics-based electronics. These offerings serve a broad array of end markets, including quick-service restaurants, automotive, aerospace, medical devices, and consumer appliances.

With business organized into key segments—Food Service Equipment, Engraving & Decorating, Hydraulics, Industrial Electronics, and Technical Graphical Solutions—Standex delivers a combination of proprietary technology, automated manufacturing processes, and custom engineering services.