Victory Capital Management Inc. Trims Holdings in Standex International Co. (NYSE:SXI)

Victory Capital Management Inc. reduced its position in shares of Standex International Co. (NYSE:SXI) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,668 shares of the industrial products company’s stock after selling 1,926 shares during the period. Victory Capital Management Inc. owned 0.37% of Standex International worth $7,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SXI. GAMMA Investing LLC grew its holdings in Standex International by 93.5% in the 3rd quarter. GAMMA Investing LLC now owns 149 shares of the industrial products company’s stock valued at $27,000 after buying an additional 72 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Standex International during the second quarter valued at about $32,000. US Bancorp DE grew its position in Standex International by 15.2% during the third quarter. US Bancorp DE now owns 623 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 82 shares during the period. Fifth Third Bancorp increased its stake in Standex International by 95.5% during the second quarter. Fifth Third Bancorp now owns 733 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 358 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Standex International by 18,180.0% during 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 during the period. 90.35% of the stock is currently owned by hedge funds and other institutional investors.

Standex International Stock Up 1.2 %

Shares of NYSE SXI opened at $201.68 on Friday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 2.89 and a beta of 1.03. Standex International Co. has a 1 year low of $131.96 and a 1 year high of $211.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.55. The stock’s 50-day simple moving average is $185.30 and its 200-day simple moving average is $175.52.

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

Standex International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.32 per share. This is a positive change from Standex International’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Friday, November 8th. Standex International’s dividend payout ratio (DPR) is currently 20.98%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SXI shares. DA Davidson upped their price target 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. Benchmark raised their target price on Standex International from $210.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. StockNews.com raised shares of Standex International from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Finally, Barrington Research reissued an “outperform” rating and set a $220.00 target price on shares of Standex International in a research report on Wednesday, October 30th.

Insiders Place Their Bets

In related news, Director Thomas J. Hansen sold 1,661 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.41, for a total transaction of $349,491.01. Following the completion of the sale, the director now owns 11,431 shares of the company’s stock, valued at $2,405,196.71. This represents a 12.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ademir Sarcevic sold 3,800 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $181.64, for a total transaction of $690,232.00. Following the sale, the chief financial officer now owns 19,686 shares in the company, valued at approximately $3,575,765.04. This trade represents a 16.18 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

About Standex International

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.