Raymond James Financial Inc. Makes New Investment in Standex International Co. (NYSE:SXI)

Raymond James Financial Inc. purchased a new stake in Standex International Co. (NYSE:SXI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 60,408 shares of the industrial products company's stock, valued at approximately $11,296,000. Raymond James Financial Inc. owned 0.51% of Standex International as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SXI. Walleye Capital LLC acquired a new stake in Standex International in the 3rd quarter valued at $250,000. State Street Corp grew its stake in shares of Standex International by 5.1% in the third quarter. State Street Corp now owns 486,099 shares of the industrial products company's stock valued at $88,849,000 after buying an additional 23,786 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Standex International by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 143,883 shares of the industrial products company's stock valued at $26,299,000 after buying an additional 3,844 shares during the period. Smartleaf Asset Management LLC lifted its position in 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 acquiring an additional 330 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Standex International in the 3rd quarter worth approximately $770,000. 90.35% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. William Blair reiterated an "outperform" rating on shares of Standex International in a research note on Tuesday, March 11th. StockNews.com downgraded shares of Standex International from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. Barrington Research reissued an "outperform" rating and issued a $220.00 price objective on shares of Standex International in a research report on Friday, February 28th. Finally, DA Davidson lifted their target price on Standex International from $222.00 to $224.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Standex International presently has a consensus rating of "Moderate Buy" and an average target price of $231.33.

Insider Transactions at Standex International

In related news, CFO Ademir Sarcevic sold 2,000 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $195.44, for a total transaction of $390,880.00. Following the transaction, the chief financial officer now directly owns 16,086 shares in the company, valued at $3,143,847.84. This trade represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.10% of the company's stock.

Standex International Stock Up 2.6 %

Shares of NYSE:SXI traded up $4.31 during midday trading on Monday, reaching $169.03. The company had a trading volume of 105,924 shares, compared to its average volume of 50,861. Standex International Co. has a one year low of $154.45 and a one year high of $212.66. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.37 and a quick ratio of 2.61. The stock has a market capitalization of $2.01 billion, a P/E ratio of 36.91, a PEG ratio of 2.63 and a beta of 1.02. The stock's fifty day moving average price is $185.53 and its 200-day moving average price is $187.65.

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

Standex International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Friday, February 14th. Standex International's dividend payout ratio is presently 27.95%.

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.