Handelsbanken Fonder AB Has $22.38 Million Stake in Standex International Corporation $SXI

Handelsbanken Fonder AB reduced its holdings in Standex International Corporation (NYSE:SXI) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 143,000 shares of the industrial products company’s stock after selling 500 shares during the period. Handelsbanken Fonder AB owned 1.18% of Standex International worth $22,377,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SXI. Champlain Investment Partners LLC grew its holdings in shares of Standex International by 1.0% in the 1st quarter. Champlain Investment Partners LLC now owns 590,551 shares of the industrial products company’s stock valued at $95,309,000 after acquiring an additional 6,121 shares in the last quarter. Geode Capital Management LLC boosted its position in Standex International by 2.7% during the second quarter. Geode Capital Management LLC now owns 286,756 shares of the industrial products company’s stock valued at $44,877,000 after purchasing an additional 7,522 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Standex International by 636.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 240,623 shares of the industrial products company’s stock valued at $38,796,000 after purchasing an additional 207,961 shares in the last quarter. Northern Trust Corp increased its position in shares of Standex International by 2.1% during the 1st quarter. Northern Trust Corp now owns 209,316 shares of the industrial products company’s stock worth $33,782,000 after purchasing an additional 4,389 shares during the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of Standex International by 131.1% during the 1st quarter. Raymond James Financial Inc. now owns 139,589 shares of the industrial products company’s stock worth $22,528,000 after purchasing an additional 79,181 shares in the last quarter. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Standex International Stock Up 3.3%

Standex International stock opened at $229.43 on Friday. The company’s 50-day moving average price is $224.91 and its two-hundred day moving average price is $190.50. The company has a quick ratio of 2.10, a current ratio of 2.88 and a debt-to-equity ratio of 0.78. The stock has a market cap of $2.78 billion, a P/E ratio of 49.45, a P/E/G ratio of 3.07 and a beta of 1.17. Standex International Corporation has a twelve month low of $128.85 and a twelve month high of $247.16.

Standex International (NYSE:SXI) last posted 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 for the quarter, compared to the consensus estimate of $215.96 million. Standex International had a return on equity of 13.92% and a net margin of 7.06%.The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.84 earnings per share. As a group, analysts expect that Standex International Corporation will post 7.9 EPS for the current year.

Standex International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 7th were issued a dividend of $0.34 per share. This is an increase from Standex International’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, November 7th. Standex International’s payout ratio is 31.19%.

Insider Activity

In related news, CEO David A. Dunbar sold 18,000 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $235.00, for a total value of $4,230,000.00. Following the transaction, the chief executive officer directly owned 103,973 shares in the company, valued at approximately $24,433,655. This represents a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vineet Kshirsagar sold 650 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $233.37, for a total transaction of $151,690.50. Following the transaction, the insider directly owned 5,047 shares in the company, valued at approximately $1,177,818.39. This represents a 11.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 31,473 shares of company stock valued at $7,166,199. 2.52% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SXI has been the subject of several analyst reports. Roth Capital raised their target price on shares of Standex International from $205.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Wall Street Zen raised shares of Standex International from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “hold (c)” rating on shares of Standex International in a research note on Wednesday, October 8th. Barrington Research reiterated an “outperform” rating and issued a $260.00 target price on shares of Standex International in a research note on Thursday. Finally, DA Davidson boosted their price target on Standex International from $200.00 to $219.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $246.33.

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.