Principal Financial Group Inc. Decreases Position in Standex International Co. (NYSE:SXI)

Principal Financial Group Inc. cut its holdings in shares of Standex International Co. (NYSE:SXI - Free Report) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,970 shares of the industrial products company's stock after selling 2,842 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of Standex International worth $10,961,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Standex International by 93.5% in the third quarter. GAMMA Investing LLC now owns 149 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 72 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Standex International during the second quarter valued at $32,000. US Bancorp DE increased its position in 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 buying an additional 82 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Standex International by 95.5% in the second quarter. Fifth Third Bancorp now owns 733 shares of the industrial products company's stock valued at $118,000 after buying an additional 358 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Standex International by 18,180.0% during the 3rd quarter. International Assets Investment Management LLC now owns 914 shares of the industrial products company's stock valued at $167,000 after buying an additional 909 shares during the last quarter. 90.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SXI shares. DA Davidson boosted their price objective on Standex International from $203.00 to $211.00 and gave the company a "buy" rating in a research note on Monday, August 5th. StockNews.com upgraded shares of Standex International from a "hold" rating to a "buy" rating in a research note on Wednesday, August 14th. Benchmark lifted their price objective on shares of Standex International from $210.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Barrington Research restated an "outperform" rating and set a $220.00 target price on shares of Standex International in a research report on Wednesday, October 30th.

Standex International Price Performance

Shares of Standex International stock traded up $1.78 on Monday, reaching $204.05. The stock had a trading volume of 31,991 shares, compared to its average volume of 56,165. The business's 50 day moving average is $182.43 and its two-hundred day moving average is $174.78. The company has a market cap of $2.47 billion, a P/E ratio of 33.69, a price-to-earnings-growth ratio of 2.87 and a beta of 1.03. Standex International Co. has a 1 year low of $131.96 and a 1 year high of $211.90. The company has a current ratio of 3.55, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23.

Standex International (NYSE:SXI - Get Free Report) 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. Standex International had a net margin of 10.26% and a return on equity of 13.18%. The firm had revenue of $170.50 million during the quarter, compared to the consensus estimate of $178.94 million. During the same period last year, the firm earned $1.74 EPS. The business's quarterly revenue was down 7.7% compared to the same quarter last year. As a group, research analysts anticipate that Standex International Co. will post 7.84 EPS for the current year.

Standex International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a $0.32 dividend. This is a positive change from Standex International's previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Friday, November 8th. Standex International's dividend payout ratio is currently 20.98%.

Insider Buying and Selling at Standex International

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

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.