Great West Life Assurance Co. Can Trims Stock Holdings in Standex International Co. (NYSE:SXI)

06 Dec 2023, 10:00 by Danessa Lincoln · The Markets Daily

Great West Life Assurance Co. Can trimmed its holdings in Standex International Co. (NYSE:SXI – Free Report) by 7.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,313 shares of the industrial products company’s stock after selling 883 shares during the period. Great West Life Assurance Co. Can owned approximately 0.09% of Standex International worth $1,459,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Nicholas Investment Partners LP grew its stake in Standex International by 15.8% in the 2nd quarter. Nicholas Investment Partners LP now owns 33,809 shares of the industrial products company’s stock valued at $4,783,000 after buying an additional 4,622 shares in the last quarter. Citigroup Inc. grew its position in shares of Standex International by 46.4% during the 2nd quarter. Citigroup Inc. now owns 10,590 shares of the industrial products company’s stock valued at $1,498,000 after purchasing an additional 3,358 shares in the last quarter. Swiss National Bank grew its position in shares of Standex International by 0.4% during the 2nd quarter. Swiss National Bank now owns 26,000 shares of the industrial products company’s stock valued at $3,678,000 after purchasing an additional 100 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Standex International by 6.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,455 shares of the industrial products company’s stock valued at $1,903,000 after purchasing an additional 808 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Standex International by 1.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 58,474 shares of the industrial products company’s stock valued at $8,272,000 after purchasing an additional 657 shares in the last quarter. 88.80% of the stock is currently owned by hedge funds and other institutional investors.

Standex International Stock Performance

NYSE SXI opened at $137.45 on Wednesday. Standex International Co. has a 52-week low of $96.32 and a 52-week high of $168.81. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.44 and a current ratio of 3.19. The company has a market capitalization of $1.64 billion, a P/E ratio of 11.73, a P/E/G ratio of 2.07 and a beta of 1.03. The company has a fifty day moving average of $141.88 and a 200-day moving average of $144.54.

Standex International (NYSE:SXI – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.04. Standex International had a net margin of 18.72% and a return on equity of 14.09%. The company had revenue of $184.77 million during the quarter, compared to the consensus estimate of $184.58 million. As a group, equities research analysts predict that Standex International Co. will post 7.33 EPS for the current fiscal year.

Standex International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were issued a dividend of $0.30 per share. This is an increase from Standex International’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Tuesday, November 7th. Standex International’s payout ratio is currently 10.24%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Benchmark reduced their price target on shares of Standex International from $205.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, November 6th. StockNews.com assumed coverage on shares of Standex International in a research report on Thursday, October 5th. They set a “strong-buy” rating for the company.

Read Our Latest Stock Analysis on SXI

Insider Transactions at Standex International

In other Standex International news, CFO Ademir Sarcevic sold 3,100 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $149.51, for a total value of $463,481.00. Following the completion of the sale, the chief financial officer now directly owns 16,499 shares of the company’s stock, valued at $2,466,765.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.63% of the stock is currently owned by insiders.

Standex International Profile

(Free Report)

Standex International Corporation, together with subsidiaries, manufactures and sells 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.