Geode Capital Management LLC Acquires 9,119 Shares of Standex International Co. (NYSE:SXI)

Geode Capital Management LLC grew its stake in shares of Standex International Co. (NYSE:SXI) by 3.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 308,217 shares of the industrial products company’s stock after buying an additional 9,119 shares during the quarter. Geode Capital Management LLC owned 2.55% of Standex International worth $56,345,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wasatch Advisors LP raised its stake in shares of Standex International by 24.6% during the third quarter. Wasatch Advisors LP now owns 460,073 shares of the industrial products company’s stock valued at $84,092,000 after acquiring an additional 90,770 shares during the last quarter. Millennium Management LLC purchased a new stake in Standex International in the 2nd quarter worth approximately $4,299,000. State Street Corp grew its position in shares of Standex International by 5.1% in the 3rd quarter. State Street Corp now owns 486,099 shares of the industrial products company’s stock worth $88,849,000 after buying an additional 23,786 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Standex International during the second quarter valued at approximately $3,523,000. Finally, Kovitz Investment Group Partners LLC bought a new position in shares of Standex International during the third quarter valued at approximately $2,821,000. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Wall Street Analysts Forecast Growth

SXI has been the topic of a number of research analyst reports. Benchmark boosted their price objective on shares of Standex International from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Barrington Research reissued an “outperform” rating and issued a $220.00 price target on shares of Standex International in a research note on Wednesday, October 30th.

Insider Activity at Standex International

In other Standex International news, CFO Ademir Sarcevic sold 3,800 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $181.64, for a total value 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas J. Hansen sold 1,661 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.41, for a total value of $349,491.01. Following the completion of the transaction, the director now owns 11,431 shares in the company, valued at $2,405,196.71. The trade was a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,061 shares of company stock worth $1,359,419. 2.10% of the stock is owned by company insiders.

Standex International Stock Performance

Shares of NYSE SXI opened at $189.99 on Monday. The company has a market cap of $2.30 billion, a PE ratio of 31.15, a PEG ratio of 2.88 and a beta of 1.05. The firm’s 50-day moving average price is $196.16 and its 200-day moving average price is $180.51. Standex International Co. has a 52-week low of $140.04 and a 52-week high of $212.65. The company has a quick ratio of 2.83, a current ratio of 3.55 and a debt-to-equity ratio of 0.23.

Standex International (NYSE:SXI) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.05. The business had revenue of $170.50 million for the quarter, compared to the consensus estimate of $178.94 million. Standex International had a net margin of 10.26% and a return on equity of 13.18%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.74 earnings per share. As a group, analysts anticipate that Standex International Co. will post 7.84 EPS for the current year.

Standex International Increases Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Friday, November 8th. Standex International’s payout ratio is presently 20.98%.

Standex International Company 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.