Intech Investment Management LLC Raises Stake in Standex International Co. (NYSE:SXI)

Intech Investment Management LLC increased its stake in Standex International Co. (NYSE:SXI) by 27.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,997 shares of the industrial products company’s stock after acquiring an additional 431 shares during the quarter. Intech Investment Management LLC’s holdings in Standex International were worth $365,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its position in shares of Standex International by 15.0% during the third quarter. Advisors Asset Management Inc. now owns 10,647 shares of the industrial products company’s stock worth $1,946,000 after acquiring an additional 1,392 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Standex International in the third quarter worth approximately $1,490,000. Quest Partners LLC purchased a new position in Standex International during the 3rd quarter worth $770,000. Peterson Financial Group Inc. bought a new stake in Standex International during the 3rd quarter valued at $44,000. Finally, Assetmark Inc. lifted its holdings in shares of Standex International by 7.3% in the 3rd quarter. Assetmark Inc. now owns 9,608 shares of the industrial products company’s stock worth $1,756,000 after buying an additional 653 shares during the period. Institutional investors own 90.35% of the company’s stock.

Standex International Trading Down 0.8 %

Shares of NYSE SXI opened at $208.14 on Wednesday. Standex International Co. has a 1-year low of $135.05 and a 1-year high of $212.65. The business has a fifty day moving average price of $189.82 and a 200 day moving average price of $177.21. The stock has a market capitalization of $2.51 billion, a P/E ratio of 34.14, a price-to-earnings-growth ratio of 2.97 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.55 and a quick ratio of 2.83.

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

Standex International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from Standex International’s previous quarterly dividend of $0.30. Standex International’s payout ratio is currently 20.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barrington Research restated an “outperform” rating and set a $220.00 price target on shares of Standex International in a research note on Wednesday, October 30th. StockNews.com raised shares of Standex International from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Finally, Benchmark upped their price target on shares of Standex International from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th.

Insider Buying and Selling at Standex International

In related news, CFO Ademir Sarcevic sold 3,800 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 19,686 shares in the company, valued at $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 available at this hyperlink. Also, Director Thomas J. Hansen sold 1,661 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.41, for a total transaction of $349,491.01. Following the transaction, the director now directly owns 11,431 shares of the company’s stock, valued at $2,405,196.71. This represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,061 shares of company stock worth $1,359,419. 2.10% of the stock is owned by corporate insiders.

About Standex International

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.