The Manufacturers Life Insurance Company Takes $2.14 Million Position in Standex International Corporation $SXI

The Manufacturers Life Insurance Company purchased a new position in Standex International Corporation (NYSE:SXI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,973 shares of the industrial products company’s stock, valued at approximately $2,136,000.

A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. bought a new position in Standex International during the second quarter valued at $640,120,000. Wasatch Advisors LP lifted its holdings in shares of Standex International by 61.3% in the 4th quarter. Wasatch Advisors LP now owns 1,369,859 shares of the industrial products company’s stock valued at $297,643,000 after acquiring an additional 520,506 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Standex International in the second quarter worth about $149,891,000. Bank of New York Mellon Corp bought a new stake in Standex International during the second quarter worth approximately $65,337,000. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of Standex International by 73.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 223,581 shares of the industrial products company’s stock valued at $48,580,000 after purchasing an additional 94,415 shares during the last quarter. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Standex International Stock Performance

Shares of Standex International stock opened at $278.89 on Thursday. The company has a current ratio of 2.40, a quick ratio of 1.84 and a debt-to-equity ratio of 0.69. The stock’s fifty day moving average price is $314.35 and its 200-day moving average price is $285.03. The firm has a market cap of $3.38 billion, a P/E ratio of 32.17, a P/E/G ratio of 3.18 and a beta of 1.04. Standex International Corporation has a 12 month low of $197.00 and a 12 month high of $363.89.

Standex International (NYSE:SXI) last released its quarterly earnings data on Friday, July 31st. The industrial products company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.10. Standex International had a net margin of 11.73% and a return on equity of 14.47%. The company had revenue of $228.25 million during the quarter, compared to analyst estimates of $226.47 million. During the same period in the prior year, the firm earned $2.28 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities research analysts expect that Standex International Corporation will post 9.96 earnings per share for the current fiscal year.

Standex International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a yield of 0.5%. Standex International’s payout ratio is 15.69%.

Wall Street Analyst Weigh In

SXI has been the topic of several analyst reports. Weiss Ratings downgraded shares of Standex International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Zacks Research upgraded Standex International from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, DA Davidson reiterated a “buy” rating and set a $350.00 target price on shares of Standex International in a research report on Thursday, August 20th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $298.67.

Insiders Place Their Bets

In other Standex International news, CEO David A. Dunbar sold 13,000 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $290.82, for a total transaction of $3,780,660.00. Following the completion of the sale, the chief executive officer owned 75,973 shares in the company, valued at $22,094,467.86. This represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 13,100 shares of company stock worth $3,813,714 in the last ninety days. 2.52% of the stock is owned by corporate insiders.

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.