Principal Financial Group Inc. Reduces Position in Standex International Co. (NYSE:SXI)

Principal Financial Group Inc. decreased its stake in shares of Standex International Co. (NYSE:SXI) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,970 shares of the industrial products company’s stock after selling 2,842 shares during the period. Principal Financial Group Inc. owned about 0.50% of Standex International worth $10,961,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SXI. GAMMA Investing LLC increased 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 worth $27,000 after acquiring an additional 72 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Standex International during the second quarter valued at about $32,000. Peterson Financial Group Inc. purchased a new position in shares of Standex International in the third quarter valued at about $44,000. US Bancorp DE boosted its stake in shares of Standex International by 15.2% in 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. Finally, International Assets Investment Management LLC raised its stake in 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 valued at $167,000 after purchasing an additional 909 shares during the period. 90.35% of the stock is owned by institutional investors.

Standex International Trading Down 1.8 %

Shares of SXI stock opened at $189.23 on Monday. The company has a market cap of $2.29 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 2.88 and a beta of 1.05. Standex International Co. has a 1 year low of $140.04 and a 1 year high of $212.65. The stock’s 50 day simple moving average is $197.28 and its two-hundred day simple moving average is $181.47. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.55 and a quick ratio of 2.83.

Standex International (NYSE:SXI) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.05. Standex International had a net margin of 10.26% and a return on equity of 13.18%. The company had revenue of $170.50 million for the quarter, compared to analyst estimates of $178.94 million. During the same period in the prior year, the company posted $1.74 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. Research analysts predict that Standex International Co. will post 7.84 earnings per share for the current year.

Standex International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.68%. This is a boost from Standex International’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, November 8th. Standex International’s payout ratio is 20.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barrington Research restated an “outperform” rating and set a $220.00 target price on shares of Standex International in a research report on Wednesday, October 30th. Benchmark lifted their target price on Standex International from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th.

Insider Transactions at Standex International

In related news, Director Thomas J. Hansen sold 1,661 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.41, for a total transaction of $349,491.01. Following the sale, the director now owns 11,431 shares of the company’s stock, valued at $2,405,196.71. This trade represents a 12.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ademir Sarcevic sold 3,800 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 19,686 shares of the company’s stock, valued at $3,575,765.04. This represents a 16.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,061 shares of company stock valued at $1,359,419. 2.10% of the stock is currently owned by company insiders.

Standex International 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.