Allspring Global Investments Holdings LLC Cuts Stock Position in Standex International Co. (NYSE:SXI)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Standex International Co. (NYSE:SXI - Free Report) by 5.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,478 shares of the industrial products company's stock after selling 3,008 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.42% of Standex International worth $9,044,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Standex International by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 1,415,927 shares of the industrial products company's stock worth $224,255,000 after acquiring an additional 9,166 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in Standex International by 4.6% during the 1st quarter. Champlain Investment Partners LLC now owns 637,162 shares of the industrial products company's stock worth $116,104,000 after purchasing an additional 27,990 shares during the last quarter. Wasatch Advisors LP acquired a new position in shares of Standex International in the 1st quarter worth approximately $52,565,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Standex International by 0.3% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 254,841 shares of the industrial products company's stock valued at $41,068,000 after purchasing an additional 771 shares during the last quarter. Finally, Leeward Investments LLC MA increased its position in shares of Standex International by 5.6% during the second quarter. Leeward Investments LLC MA now owns 132,054 shares of the industrial products company's stock worth $21,281,000 after buying an additional 7,020 shares during the period. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Standex International Stock Performance

SXI traded down $0.61 during trading hours on Friday, hitting $176.94. The stock had a trading volume of 33,562 shares, compared to its average volume of 56,948. Standex International Co. has a 1 year low of $130.04 and a 1 year high of $191.18. The company's fifty day simple moving average is $175.79 and its 200 day simple moving average is $172.23. The stock has a market cap of $2.08 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 2.51 and a beta of 1.03. The company has a quick ratio of 2.69, a current ratio of 3.37 and a debt-to-equity ratio of 0.24.

Standex International (NYSE:SXI - Get Free Report) last posted its earnings results on Thursday, August 1st. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.04. Standex International had a net margin of 10.14% and a return on equity of 13.60%. The business had revenue of $180.19 million for the quarter, compared to analysts' expectations of $181.35 million. During the same period in the prior year, the company posted $1.76 EPS. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. Equities analysts anticipate that Standex International Co. will post 7.67 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 22nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.32 per share. This is a boost from Standex International's previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Friday, November 8th. Standex International's dividend payout ratio (DPR) is 20.71%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Benchmark reissued a "buy" rating and issued a $210.00 price objective on shares of Standex International in a research note on Friday, August 2nd. DA Davidson boosted their price target on Standex International from $203.00 to $211.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Finally, StockNews.com raised shares of Standex International from a "hold" rating to a "buy" rating in a research report on Wednesday, August 14th.

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.