State Street Corp Increases Stock Position in Standex International Co. (NYSE:SXI)

State Street Corp boosted its holdings in Standex International Co. (NYSE:SXI - Free Report) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 486,099 shares of the industrial products company's stock after buying an additional 23,786 shares during the period. State Street Corp owned 4.02% of Standex International worth $88,849,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wasatch Advisors LP boosted its holdings in Standex International by 24.6% in the 3rd quarter. Wasatch Advisors LP now owns 460,073 shares of the industrial products company's stock valued at $84,092,000 after purchasing an additional 90,770 shares during the period. Millennium Management LLC acquired a new position in Standex International during the 2nd quarter worth approximately $4,299,000. Squarepoint Ops LLC purchased a new stake in Standex International during the 2nd quarter worth about $3,523,000. Raymond James & Associates raised its position in shares of Standex International by 32.3% during the 3rd quarter. Raymond James & Associates now owns 47,138 shares of the industrial products company's stock valued at $8,616,000 after acquiring an additional 11,516 shares in the last quarter. Finally, Anchor Capital Management Company LLC increased its holdings in shares of Standex International by 19.2% in the 2nd quarter. Anchor Capital Management Company LLC now owns 67,843 shares of the industrial products company's stock valued at $10,933,000 after purchasing an additional 10,906 shares during the period. 90.35% of the stock is currently owned by institutional investors.

Standex International Stock Performance

Shares of NYSE:SXI traded down $3.42 during midday trading on Tuesday, reaching $200.45. 39,222 shares of the company's stock traded hands, compared to its average volume of 55,070. The stock has a 50 day moving average of $194.93 and a 200 day moving average of $179.83. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.55. Standex International Co. has a one year low of $140.04 and a one year high of $212.65. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 33.42, a P/E/G ratio of 2.88 and a beta of 1.05.

Standex International (NYSE:SXI - Get Free Report) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.05. The firm had revenue of $170.50 million for the quarter, compared to analyst estimates of $178.94 million. Standex International had a return on equity of 13.18% and a net margin of 10.26%. Standex International's revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.74 EPS. As a group, equities research analysts anticipate that Standex International Co. will post 7.84 EPS for the current fiscal year.

Standex International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.28 annualized dividend and a yield of 0.64%. This is a boost from Standex International's previous quarterly dividend of $0.30. Standex International's dividend payout ratio (DPR) is currently 20.98%.

Analysts Set New Price Targets

SXI has been the subject of a number of recent research reports. Barrington Research reissued an "outperform" rating and set a $220.00 price objective on shares of Standex International in a report on Wednesday, October 30th. Benchmark boosted their target price 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.

Insider Buying and Selling at Standex International

In other news, Director Thomas J. Hansen sold 1,661 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.41, for a total transaction of $349,491.01. Following the completion of the transaction, the director now directly owns 11,431 shares of the company's stock, valued at $2,405,196.71. This represents a 12.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ademir Sarcevic sold 1,600 shares of the company's stock in a transaction 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 completion of the transaction, the chief financial officer now owns 18,086 shares in the company, valued at approximately $3,613,763.66. This represents a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,061 shares of company stock valued at $1,359,419 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

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.