Assetmark Inc. Increases Stock Holdings in Standex International Co. (NYSE:SXI)

Assetmark Inc. grew its holdings in shares of Standex International Co. (NYSE:SXI) by 7.3% during the third quarter, Holdings Channel reports. The firm owned 9,608 shares of the industrial products company’s stock after purchasing an additional 653 shares during the quarter. Assetmark Inc.’s holdings in Standex International were worth $1,756,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. grew its holdings in shares of Standex International by 114.5% in the third quarter. Harbor Capital Advisors Inc. now owns 11,227 shares of the industrial products company’s stock valued at $2,052,000 after purchasing an additional 5,994 shares in the last quarter. US Bancorp DE grew its stake in shares of Standex International by 15.2% in the third quarter. US Bancorp DE now owns 623 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 82 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Standex International by 18,180.0% during the third quarter. International Assets Investment Management LLC now owns 914 shares of the industrial products company’s stock worth $167,000 after acquiring an additional 909 shares during the period. Copeland Capital Management LLC raised its stake in shares of Standex International by 0.8% in the third quarter. Copeland Capital Management LLC now owns 556,244 shares of the industrial products company’s stock valued at $101,670,000 after acquiring an additional 4,281 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in Standex International by 32.3% in the third quarter. Raymond James & Associates now owns 47,138 shares of the industrial products company’s stock valued at $8,616,000 after purchasing an additional 11,516 shares during the period. Institutional investors and hedge funds own 90.35% of the company’s stock.

Standex International Trading Down 0.9 %

SXI opened at $202.21 on Friday. 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 Co. has a one year low of $131.96 and a one year high of $211.90. The company has a market cap of $2.44 billion, a P/E ratio of 33.15, a PEG ratio of 2.91 and a beta of 1.03. The business’s 50-day simple moving average is $181.71 and its 200-day simple moving average is $174.58.

Standex International (NYSE:SXI) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.66 by $0.05. The company had revenue of $170.50 million for the quarter, compared to analyst estimates of $178.94 million. Standex International had a net margin of 10.26% and a return on equity of 13.18%. The firm’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.74 earnings per share. As a group, 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 declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.32 per share. This is a positive change from Standex International’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 0.63%. The ex-dividend date is Friday, November 8th. Standex International’s dividend payout ratio (DPR) is currently 20.98%.

Insider Activity at Standex International

In related news, Director Thomas J. Hansen sold 1,661 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.41, for a total transaction of $349,491.01. Following the completion of the sale, the director now owns 11,431 shares in the company, valued at $2,405,196.71. This represents a 12.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ademir Sarcevic sold 3,800 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $181.64, for a total transaction of $690,232.00. Following the transaction, the chief financial officer now directly owns 19,686 shares in the company, valued at $3,575,765.04. The trade was a 16.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. StockNews.com upgraded Standex International from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. DA Davidson upped their target price on shares of Standex International from $203.00 to $211.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Barrington Research reiterated an “outperform” rating and issued a $220.00 price target on shares of Standex International in a research note on Wednesday, October 30th. Finally, Benchmark increased 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.

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.