Standex International Corporation $SXI Stake Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in Standex International Corporation (NYSE:SXI) by 45.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 71,193 shares of the industrial products company’s stock after selling 58,502 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Standex International were worth $20,299,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Standex International during the 2nd quarter valued at about $640,120,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Standex International during the 2nd quarter worth approximately $149,891,000. Bank of New York Mellon Corp purchased a new position in Standex International in the 2nd quarter worth approximately $65,337,000. Sei Investments Co. boosted its holdings in Standex International by 4.5% in the 1st quarter. Sei Investments Co. now owns 105,064 shares of the industrial products company’s stock worth $26,774,000 after acquiring an additional 4,520 shares during the period. Finally, Conestoga Capital Advisors LLC acquired a new stake in Standex International in the third quarter valued at approximately $16,832,000. Institutional investors and hedge funds own 90.35% of the company’s stock.

Standex International Price Performance

Shares of NYSE SXI opened at $240.59 on Friday. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 2.58 and a beta of 1.07. The business has a 50 day simple moving average of $263.46 and a 200-day simple moving average of $277.53. Standex International Corporation has a twelve month low of $215.62 and a twelve month high of $363.89. The company has a current ratio of 3.19, a quick ratio of 2.30 and a debt-to-equity ratio of 0.67.

Standex International (NYSE:SXI) last issued its quarterly earnings data on Thursday, October 29th. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. The business had revenue of $232.57 million during the quarter, compared to analyst estimates of $229.65 million. Standex International had a return on equity of 14.84% and a net margin of 12.54%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.99 EPS. As a group, equities research analysts expect that Standex International Corporation will post 10.48 earnings per share for the current year.

Standex International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.6%. This is a positive change from Standex International’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, November 6th. Standex International’s dividend payout ratio (DPR) is presently 15.32%.

Analyst Ratings Changes

SXI has been the topic of a number of analyst reports. Weiss Ratings lowered shares of Standex International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. DA Davidson restated a “buy” rating and issued a $350.00 target price on shares of Standex International in a research note on Thursday, August 20th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Standex International in a report on Wednesday, October 14th. They set a “neutral” rating and a $320.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Standex International currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.00.

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 dated Monday, August 31st. The shares were 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 directly owned 75,973 shares of the company’s stock, valued at approximately $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 through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles H. Cannon, Jr. sold 908 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $259.03, for a total transaction of $235,199.24. Following the completion of the transaction, the director owned 1,989 shares of the company’s stock, valued at approximately $515,210.67. The trade was a 31.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,958 shares of company stock valued at $4,030,104 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

About Standex International

Standex International is a diversified industrial manufacturer serving customers in markets that include electronics, life sciences, aerospace, and industrial manufacturing. Founded in 1955, the company has expanded through the development and acquisition of specialized businesses and serves customers around the world. Its Electronics businesses make components such as magnetic sensors, reed switches, and relays used in applications ranging from automotive and medical equipment to industrial controls.