Assetmark Inc. Boosts Position in Standex International Co. (NYSE:SXI)

Assetmark Inc. raised its holdings in shares of Standex International Co. (NYSE:SXI) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,608 shares of the industrial products company’s stock after acquiring an additional 653 shares during the period. Assetmark Inc. owned approximately 0.08% of Standex International worth $1,756,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SXI. GAMMA Investing LLC lifted its position in Standex International by 93.5% during the third quarter. GAMMA Investing LLC now owns 149 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 72 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Standex International in the 2nd quarter valued at about $32,000. US Bancorp DE grew its holdings in Standex International by 15.2% during the third quarter. US Bancorp DE now owns 623 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 82 shares during the period. Fifth Third Bancorp raised its position in Standex International by 95.5% during the second quarter. Fifth Third Bancorp now owns 733 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 358 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in Standex International by 18,180.0% in the 3rd quarter. International Assets Investment Management LLC now owns 914 shares of the industrial products company’s stock worth $167,000 after purchasing an additional 909 shares in the last quarter. 90.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. 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. Barrington Research reissued an “outperform” rating and set a $220.00 target price on shares of Standex International in a research note on Wednesday, October 30th. StockNews.com upgraded Standex International from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Finally, DA Davidson upped their price objective on shares of Standex International from $203.00 to $211.00 and gave the stock a “buy” rating in a research report on Monday, August 5th.

Standex International Stock Performance

SXI opened at $202.21 on Friday. The firm has a market capitalization of $2.44 billion, a PE ratio of 33.15, a PEG ratio of 2.91 and a beta of 1.03. The firm’s 50-day moving average price is $181.71 and its 200 day moving average price is $174.58. Standex International Co. has a twelve month low of $131.96 and a twelve month high of $211.90. The company has a current ratio of 3.55, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23.

Standex International (NYSE:SXI) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.05. Standex International had a net margin of 10.26% and a return on equity of 13.18%. The firm had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $178.94 million. During the same quarter in the previous year, the company posted $1.74 EPS. The company’s revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that Standex International Co. will post 7.84 EPS for the current fiscal year.

Standex International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Friday, November 8th. This is a positive change from Standex International’s previous quarterly dividend of $0.30. Standex International’s payout ratio is presently 20.98%.

Insider Activity at Standex International

In other news, CFO Ademir Sarcevic sold 3,800 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $181.64, for a total value of $690,232.00. Following the sale, the chief financial officer now directly owns 19,686 shares of the company’s stock, valued at approximately $3,575,765.04. The trade was a 16.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas J. Hansen sold 1,661 shares of the company’s stock in a transaction that occurred on 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 owns 11,431 shares in the company, valued at approximately $2,405,196.71. This represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

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.