Standex International Co. (NYSE:SXI) Holdings Lowered by Comerica Bank

Comerica Bank cut its stake in Standex International Co. (NYSE:SXIGet Rating) by 11.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,070 shares of the industrial products company’s stock after selling 1,456 shares during the period. Comerica Bank owned approximately 0.09% of Standex International worth $1,008,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Raymond James & Associates boosted its stake in Standex International by 8.6% during the 3rd quarter. Raymond James & Associates now owns 7,669 shares of the industrial products company’s stock valued at $626,000 after purchasing an additional 609 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Standex International in the third quarter valued at $465,000. Copeland Capital Management LLC boosted its stake in Standex International by 0.8% during the third quarter. Copeland Capital Management LLC now owns 531,086 shares of the industrial products company’s stock valued at $43,363,000 after buying an additional 4,043 shares in the last quarter. Legal & General Group Plc grew its holdings in Standex International by 2.0% during the second quarter. Legal & General Group Plc now owns 35,112 shares of the industrial products company’s stock worth $2,976,000 after acquiring an additional 678 shares during the period. Finally, ExodusPoint Capital Management LP bought a new stake in Standex International in the second quarter worth about $208,000. Institutional investors and hedge funds own 86.70% of the company’s stock.

Insider Activity

In other Standex International news, Director Thomas E. Chorman sold 1,425 shares of Standex International stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $103.74, for a total transaction of $147,829.50. Following the transaction, the director now directly owns 13,264 shares in the company, valued at approximately $1,376,007.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Thomas E. Chorman sold 1,425 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $103.74, for a total value of $147,829.50. Following the completion of the sale, the director now directly owns 13,264 shares of the company’s stock, valued at approximately $1,376,007.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Alan J. Glass sold 304 shares of Standex International stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $104.74, for a total value of $31,840.96. Following the transaction, the vice president now directly owns 16,216 shares in the company, valued at approximately $1,698,463.84. The disclosure for this sale can be found here. Insiders have sold 4,106 shares of company stock worth $430,004 over the last 90 days. 2.28% of the stock is owned by company insiders.

Standex International Price Performance

Shares of NYSE:SXI opened at $107.07 on Wednesday. The company has a market capitalization of $1.28 billion, a PE ratio of 20.24 and a beta of 1.17. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.21 and a current ratio of 3.09. The stock has a fifty day moving average of $104.55 and a 200-day moving average of $95.64. Standex International Co. has a one year low of $79.02 and a one year high of $112.26.

Standex International (NYSE:SXIGet Rating) last announced its earnings results on Thursday, November 3rd. The industrial products company reported $1.60 EPS for the quarter, meeting the consensus estimate of $1.60. The business had revenue of $180.60 million during the quarter, compared to the consensus estimate of $188.10 million. Standex International had a return on equity of 14.48% and a net margin of 8.62%. As a group, equities analysts anticipate that Standex International Co. will post 6.85 EPS for the current fiscal year.

Standex International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Wednesday, November 9th were given a $0.28 dividend. This is an increase from Standex International’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Tuesday, November 8th. Standex International’s dividend payout ratio (DPR) is 21.17%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Standex International in a research note on Wednesday, October 12th. They issued a “strong-buy” rating on the stock.

Standex International Company Profile

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Standex International Corporation, together with subsidiaries, manufactures and sells 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.

Further Reading

Institutional Ownership by Quarter for Standex International (NYSE:SXI)

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