Standex International Corporation $SXI Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its stake in shares of Standex International Corporation (NYSE:SXI) by 17.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 167,500 shares of the industrial products company’s stock after acquiring an additional 24,500 shares during the quarter. Handelsbanken Fonder AB owned approximately 1.38% of Standex International worth $35,493,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wasatch Advisors LP lifted its position in shares of Standex International by 62.4% during the second quarter. Wasatch Advisors LP now owns 866,830 shares of the industrial products company’s stock worth $135,642,000 after purchasing an additional 332,941 shares during the last quarter. Champlain Investment Partners LLC raised its position in shares of Standex International by 2.1% during the 2nd quarter. Champlain Investment Partners LLC now owns 603,095 shares of the industrial products company’s stock valued at $94,372,000 after acquiring an additional 12,544 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Standex International by 2.7% in the second quarter. Geode Capital Management LLC now owns 286,756 shares of the industrial products company’s stock worth $44,877,000 after purchasing an additional 7,522 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Standex International by 1.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 245,244 shares of the industrial products company’s stock valued at $51,778,000 after purchasing an additional 4,621 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Standex International by 17.9% during the third quarter. Voya Investment Management LLC now owns 165,146 shares of the industrial products company’s stock worth $34,994,000 after purchasing an additional 25,028 shares during the period. Institutional investors own 90.35% of the company’s stock.

Analyst Ratings Changes

SXI has been the topic of several research reports. Roth Mkm increased their price objective on shares of Standex International from $260.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. Barrington Research restated an “outperform” rating and set a $260.00 price objective on shares of Standex International in a research report on Monday, February 2nd. DA Davidson raised their target price on Standex International from $272.00 to $298.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Wall Street Zen cut shares of Standex International from a “buy” rating to a “hold” rating in a report on Sunday, February 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Standex International in a research note on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $281.33.

Standex International Price Performance

Shares of NYSE:SXI opened at $262.27 on Friday. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 58.81 and a beta of 1.13. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.87 and a quick ratio of 2.10. Standex International Corporation has a 12 month low of $128.85 and a 12 month high of $270.87. The stock’s 50 day moving average price is $243.94 and its 200 day moving average price is $229.90.

Standex International (NYSE:SXI) last issued its quarterly earnings results on Friday, January 30th. The industrial products company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.08. The company had revenue of $221.32 million for the quarter, compared to analysts’ expectations of $219.22 million. Standex International had a return on equity of 14.29% and a net margin of 6.20%.The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the firm earned $1.91 EPS. Equities research analysts anticipate that Standex International Corporation will post 7.9 earnings per share for the current fiscal year.

Standex International Announces Dividend

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

Insider Activity

In other news, CEO David A. Dunbar sold 15,000 shares of Standex International stock in a transaction that occurred 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 transaction, the chief executive officer owned 88,973 shares of the company’s stock, valued at $22,771,749.62. The trade was a 14.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Andy L. Nemeth bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were acquired at an average cost of $245.00 per share, with a total value of $490,000.00. Following the completion of the purchase, the director owned 8,639 shares of the company’s stock, valued at approximately $2,116,555. The trade was a 30.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders sold 15,450 shares of company stock worth $3,955,633. Corporate insiders own 2.52% of the company’s stock.

Standex International Company Profile

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.