1ST Source Bank Purchases 3,500 Shares of Standex International Corporation $SXI

1ST Source Bank raised its position in Standex International Corporation (NYSE:SXI) by 133.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,126 shares of the industrial products company’s stock after purchasing an additional 3,500 shares during the quarter. 1ST Source Bank owned 0.05% of Standex International worth $1,298,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SXI. Financial Consulate Inc. purchased a new stake in shares of Standex International in the third quarter worth approximately $25,000. AlphaQuest LLC boosted its holdings in Standex International by 72.8% during the 3rd quarter. AlphaQuest LLC now owns 197 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 83 shares during the period. Geneos Wealth Management Inc. grew its position 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 valued at $50,000 after acquiring an additional 196 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Standex International by 20.3% in the second quarter. Nisa Investment Advisors LLC now owns 651 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 110 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Standex International by 350.0% in the second quarter. Canada Pension Plan Investment Board now owns 900 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 700 shares during the period. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SXI shares. DA Davidson boosted 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 lowered shares of Standex International from a “buy” rating to a “hold” rating in a report on Sunday, February 1st. Roth Mkm boosted 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 issued a $260.00 target price on shares of Standex International in a research note on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Standex International in a research report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $281.33.

Standex International Stock Performance

Shares of SXI stock opened at $260.00 on Friday. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 58.30 and a beta of 1.13. Standex International Corporation has a 52-week low of $128.85 and a 52-week high of $270.87. The company has a quick ratio of 2.10, a current ratio of 2.87 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $243.19 and its 200 day moving average is $229.38.

Standex International (NYSE:SXI) last announced its earnings results on Friday, January 30th. The industrial products company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.08. The business had revenue of $221.32 million for the quarter, compared to analysts’ expectations of $219.22 million. Standex International had a return on equity of 14.29% and a net margin of 6.20%.The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.91 EPS. On average, sell-side analysts anticipate that Standex International Corporation will post 7.9 EPS for the current fiscal year.

Standex International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, February 13th. Standex International’s payout ratio is 30.49%.

Insiders Place Their Bets

In other news, Director Andy L. Nemeth purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was acquired at an average cost of $245.00 per share, with a total value of $490,000.00. Following the completion of the transaction, the director owned 8,639 shares in the company, valued at $2,116,555. This represents a 30.13% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Vineet Kshirsagar sold 400 shares of Standex International stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $260.10, for a total transaction of $104,040.00. Following the completion of the transaction, the insider directly owned 4,647 shares in the company, valued at approximately $1,208,684.70. The trade was a 7.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 15,450 shares of company stock worth $3,955,633. 2.52% of the stock is owned by corporate insiders.

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.