Standex International Corporation $SXI Shares Purchased by 1ST Source Bank

1ST Source Bank increased its holdings in shares of Standex International Corporation (NYSE:SXI) by 133.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,126 shares of the industrial products company’s stock after purchasing an additional 3,500 shares during the period. 1ST Source Bank’s holdings in Standex International were worth $1,298,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SXI. Handelsbanken Fonder AB boosted its holdings in Standex International by 17.1% in the third quarter. Handelsbanken Fonder AB now owns 167,500 shares of the industrial products company’s stock worth $35,493,000 after acquiring an additional 24,500 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Standex International by 15.1% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,967 shares of the industrial products company’s stock valued at $3,807,000 after purchasing an additional 2,361 shares during the last quarter. US Bancorp DE boosted its stake in Standex International by 66.7% in the 3rd quarter. US Bancorp DE now owns 977 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 391 shares in the last quarter. TD Asset Management Inc purchased a new stake in Standex International during the 3rd quarter worth approximately $581,000. Finally, Synovus Financial Corp acquired a new position in Standex International during the 3rd quarter valued at approximately $1,177,000. 90.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Standex International in a report on Wednesday, January 21st. Wall Street Zen downgraded Standex International from a “buy” rating to a “hold” rating in a research report on Sunday, February 1st. DA Davidson lifted their price target on Standex International from $272.00 to $298.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Roth Mkm boosted their price target on Standex International from $260.00 to $286.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Finally, Barrington Research reissued an “outperform” rating and issued a $260.00 price objective on shares of Standex International in a report on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Standex International currently has an average rating of “Moderate Buy” and a consensus price target of $281.33.

Standex International Trading Up 1.7%

Shares of NYSE:SXI opened at $260.00 on Friday. Standex International Corporation has a 12-month low of $128.85 and a 12-month high of $270.87. The company has a market capitalization of $3.15 billion, a PE ratio of 58.30 and a beta of 1.13. The business has a 50 day moving average of $243.19 and a two-hundred day moving average of $229.38. The company has a current ratio of 2.87, a quick ratio of 2.10 and a debt-to-equity ratio of 0.76.

Standex International (NYSE:SXI) last released its quarterly earnings data on Friday, January 30th. The industrial products company reported $2.08 EPS for the quarter, topping the consensus estimate of $2.00 by $0.08. The business had revenue of $221.32 million for the quarter, compared to analyst estimates of $219.22 million. Standex International had a return on equity of 14.29% and a net margin of 6.20%.The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.91 EPS. As a group, analysts forecast that Standex International Corporation will post 7.9 EPS for the current year.

Standex International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.36 dividend on an annualized basis and a yield of 0.5%. Standex International’s dividend payout ratio is 30.49%.

Insider Activity at Standex International

In other Standex International news, CEO David A. Dunbar sold 15,000 shares of Standex International stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $255.94, for a total value of $3,839,100.00. Following the completion of the transaction, the chief executive officer owned 88,973 shares of the company’s stock, valued at approximately $22,771,749.62. The trade was a 14.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy L. Nemeth acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was purchased at an average price of $245.00 per share, with a total value of $490,000.00. Following the transaction, the director owned 8,639 shares of the company’s stock, valued at approximately $2,116,555. This trade represents a 30.13% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have sold 15,450 shares of company stock worth $3,955,633. 2.52% of the stock is owned by company insiders.

About Standex International

Standex International Corporation is a diversified global manufacturer specializing in food service equipment, engineered components, and industrial products. Operating across multiple markets, the company designs and produces commercial cooking and warming solutions, precision-engraved nameplates and decorative products, fluid power hydraulics, and magnetics-based electronics. These offerings serve a broad array of end markets, including quick-service restaurants, automotive, aerospace, medical devices, and consumer appliances.

With business organized into key segments—Food Service Equipment, Engraving & Decorating, Hydraulics, Industrial Electronics, and Technical Graphical Solutions—Standex delivers a combination of proprietary technology, automated manufacturing processes, and custom engineering services.