Geode Capital Management LLC Raises Stock Position in Standex International Co. (NYSE:SXI)

Geode Capital Management LLC lifted its holdings in Standex International Co. (NYSE:SXI) by 3.0% in the third quarter, Holdings Channel reports. The fund owned 308,217 shares of the industrial products company’s stock after purchasing an additional 9,119 shares during the quarter. Geode Capital Management LLC’s holdings in Standex International were worth $56,345,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its stake in shares of Standex International by 5.2% in the 2nd quarter. Raymond James & Associates now owns 35,622 shares of the industrial products company’s stock valued at $5,740,000 after purchasing an additional 1,764 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Standex International by 95.5% in the second quarter. Fifth Third Bancorp now owns 733 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 358 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Standex International by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the industrial products company’s stock worth $967,000 after acquiring an additional 100 shares during the last quarter. Raymond James Trust N.A. grew its holdings in Standex International by 1.9% during the 2nd quarter. Raymond James Trust N.A. now owns 4,393 shares of the industrial products company’s stock valued at $708,000 after purchasing an additional 82 shares during the last quarter. Finally, Choreo LLC purchased a new stake in Standex International in the 2nd quarter worth about $216,000. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Insider Buying and Selling at Standex International

In other Standex International news, CFO Ademir Sarcevic sold 3,800 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $181.64, for a total transaction of $690,232.00. Following the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas J. Hansen sold 1,661 shares of Standex International stock in a transaction 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 sale, the director now owns 11,431 shares of the company’s stock, 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. Over the last ninety days, insiders sold 7,061 shares of company stock valued at $1,359,419. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Standex International Stock Down 1.0 %

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

Standex International (NYSE:SXI) last issued its 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. The company had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $178.94 million. Standex International had a net margin of 10.26% and a return on equity of 13.18%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.74 EPS. Sell-side analysts expect that Standex International Co. will post 7.84 earnings per share for the current 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 paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.67%. The ex-dividend date was Friday, November 8th. This is a positive change from Standex International’s previous quarterly dividend of $0.30. Standex International’s payout ratio is 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.