Standex International Co. (NYSE:SXI) Shares Sold by Principal Financial Group Inc.

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wasatch Advisors LP increased its position in shares of Standex International by 24.6% during the third quarter. Wasatch Advisors LP now owns 460,073 shares of the industrial products company's stock worth $84,092,000 after acquiring an additional 90,770 shares during the period. Millennium Management LLC purchased a new position in Standex International during the 2nd quarter worth $4,299,000. State Street Corp raised its position in Standex International by 5.1% during the 3rd quarter. State Street Corp now owns 486,099 shares of the industrial products company's stock valued at $88,849,000 after purchasing an additional 23,786 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Standex International in the 2nd quarter worth $3,523,000. Finally, Kovitz Investment Group Partners LLC bought a new position in shares of Standex International during the 3rd quarter worth $2,821,000. Institutional investors own 90.35% of the company's stock.

Insiders Place Their Bets

In other Standex International news, Director Thomas J. Hansen sold 1,661 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.41, for a total value of $349,491.01. Following the sale, the director now owns 11,431 shares in the company, valued at approximately $2,405,196.71. This represents a 12.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Ademir Sarcevic sold 1,600 shares of Standex International stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $199.81, for a total transaction of $319,696.00. Following the transaction, the chief financial officer now directly owns 18,086 shares of the company's stock, valued at approximately $3,613,763.66. This trade represents a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,061 shares of company stock valued at $1,359,419. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SXI shares. Benchmark lifted their price objective on Standex International from $210.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Barrington Research restated an "outperform" rating and issued a $220.00 price target on shares of Standex International in a report on Wednesday, October 30th.

Standex International Stock Down 0.9 %

NYSE:SXI traded down $1.79 during mid-day trading on Monday, hitting $187.44. 25,877 shares of the company's stock traded hands, compared to its average volume of 55,474. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.55. The company has a market capitalization of $2.26 billion, a P/E ratio of 30.73, a P/E/G ratio of 2.88 and a beta of 1.05. The company has a fifty day moving average of $197.28 and a 200 day moving average of $181.57. Standex International Co. has a twelve month low of $140.04 and a twelve month high of $212.65.

Standex International (NYSE:SXI - Get Free Report) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.05. The company had revenue of $170.50 million during the quarter, compared to analysts' expectations of $178.94 million. Standex International had a net margin of 10.26% and a return on equity of 13.18%. Standex International's revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the business earned $1.74 EPS. On average, analysts forecast that Standex International Co. will post 7.84 EPS for the current year.

Standex International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from Standex International's previous quarterly dividend of $0.30. Standex International's dividend payout ratio is 20.98%.

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.