Norges Bank Makes New Investment in Standex International Co. (NYSE:SXI)

Norges Bank acquired a new stake in Standex International Co. (NYSE:SXI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 38,088 shares of the industrial products company's stock, valued at approximately $7,122,000. Norges Bank owned about 0.32% of Standex International at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SXI. Versant Capital Management Inc raised its holdings in Standex International by 27.0% in the fourth quarter. Versant Capital Management Inc now owns 301 shares of the industrial products company's stock valued at $56,000 after acquiring an additional 64 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Standex International by 183.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 510 shares of the industrial products company's stock worth $96,000 after buying an additional 330 shares in the last quarter. KBC Group NV lifted its holdings in shares of Standex International by 45.7% in the fourth quarter. KBC Group NV now owns 548 shares of the industrial products company's stock valued at $102,000 after purchasing an additional 172 shares in the last quarter. Hanson & Doremus Investment Management increased its position in Standex International by 117.4% during the 4th quarter. Hanson & Doremus Investment Management now owns 926 shares of the industrial products company's stock worth $173,000 after purchasing an additional 500 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC acquired a new position in Standex International in the fourth quarter valued at $201,000. 90.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Ademir Sarcevic sold 2,000 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $195.44, for a total transaction of $390,880.00. Following the sale, the chief financial officer now directly owns 16,086 shares in the company, valued at approximately $3,143,847.84. The trade was a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.10% of the company's stock.

Standex International Trading Up 0.9 %

NYSE:SXI traded up $1.31 during trading hours on Monday, hitting $144.09. 759 shares of the stock were exchanged, compared to its average volume of 54,482. The company's 50 day moving average is $173.41 and its two-hundred day moving average is $185.03. The company has a quick ratio of 2.61, a current ratio of 3.37 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $1.71 billion, a P/E ratio of 31.53, a price-to-earnings-growth ratio of 2.63 and a beta of 0.95. Standex International Co. has a twelve month low of $130.05 and a twelve month high of $212.66.

Standex International (NYSE:SXI - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.68 by $0.23. Standex International had a return on equity of 13.28% and a net margin of 7.59%. On average, sell-side analysts anticipate that Standex International Co. will post 7.9 earnings per share for the current fiscal year.

Standex International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, February 14th. This represents a $1.28 annualized dividend and a yield of 0.89%. Standex International's payout ratio is currently 27.95%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. StockNews.com cut Standex International from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. DA Davidson boosted their price objective on shares of Standex International from $222.00 to $224.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Barrington Research reissued an "outperform" rating and issued a $220.00 price target on shares of Standex International in a report on Friday, February 28th. William Blair restated an "outperform" rating on shares of Standex International in a research report on Tuesday, March 11th. Finally, Roth Capital upgraded shares of Standex International to a "strong-buy" rating in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $231.33.

Standex International 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.