Mitsubishi UFJ Asset Management Co. Ltd. Has $2.44 Million Stake in Standex International Corporation $SXI

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Standex International Corporation (NYSE:SXI) by 46.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,606 shares of the industrial products company’s stock after acquiring an additional 4,920 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.13% of Standex International worth $2,442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SXI. Champlain Investment Partners LLC increased its position in shares of Standex International by 1.0% during the 1st quarter. Champlain Investment Partners LLC now owns 590,551 shares of the industrial products company’s stock worth $95,309,000 after purchasing an additional 6,121 shares in the last quarter. Invesco Ltd. grew its stake in Standex International by 30.2% during the first quarter. Invesco Ltd. now owns 73,944 shares of the industrial products company’s stock worth $11,934,000 after buying an additional 17,139 shares during the last quarter. Inspire Investing LLC grew its stake in Standex International by 21.8% during the second quarter. Inspire Investing LLC now owns 3,026 shares of the industrial products company’s stock worth $474,000 after buying an additional 541 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Standex International during the first quarter worth approximately $341,000. Finally, Voya Investment Management LLC raised its stake in shares of Standex International by 1,619.8% in the first quarter. Voya Investment Management LLC now owns 130,860 shares of the industrial products company’s stock valued at $21,119,000 after acquiring an additional 123,251 shares during the last quarter. 90.35% of the stock is owned by institutional investors.

Standex International Price Performance

SXI opened at $231.27 on Friday. The company has a fifty day moving average price of $222.09 and a two-hundred day moving average price of $186.92. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.10 and a current ratio of 2.88. Standex International Corporation has a 52 week low of $128.85 and a 52 week high of $247.16. The firm has a market capitalization of $2.80 billion, a PE ratio of 49.84, a P/E/G ratio of 3.07 and a beta of 1.17.

Standex International (NYSE:SXI) last issued its earnings results on Friday, October 31st. The industrial products company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.94 by $0.05. The company had revenue of $217.43 million during the quarter, compared to analysts’ expectations of $215.96 million. Standex International had a net margin of 7.06% and a return on equity of 13.92%. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 EPS. As a group, analysts anticipate that Standex International Corporation will post 7.9 earnings per share for the current year.

Standex International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Friday, November 7th will be issued a $0.34 dividend. This is a boost from Standex International’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, November 7th. Standex International’s dividend payout ratio is currently 31.19%.

Analyst Ratings Changes

A number of research firms recently weighed in on SXI. Roth Capital raised their price target on Standex International from $205.00 to $260.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Standex International in a report on Wednesday, October 8th. DA Davidson lifted their price target on Standex International from $200.00 to $219.00 and gave the company a “buy” rating in a report on Monday, August 4th. Barrington Research reiterated an “outperform” rating and set a $260.00 price target on shares of Standex International in a research report on Monday, November 3rd. Finally, Wall Street Zen cut shares of Standex International from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $246.33.

Insider Buying and Selling

In other Standex International news, CEO David A. Dunbar sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $235.00, for a total transaction of $4,230,000.00. Following the transaction, the chief executive officer owned 103,973 shares in the company, valued at approximately $24,433,655. This trade represents a 14.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vineet Kshirsagar sold 650 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $233.37, for a total value of $151,690.50. Following the transaction, the insider owned 5,047 shares of the company’s stock, valued at $1,177,818.39. The trade was a 11.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 34,465 shares of company stock worth $7,772,378. Corporate insiders own 2.52% of the company’s stock.

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.