Panagora Asset Management Inc. Trims Stake in Standex International Co. (NYSE:SXI)

Panagora Asset Management Inc. lessened its holdings in Standex International Co. (NYSE:SXI) by 73.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,308 shares of the industrial products company’s stock after selling 6,231 shares during the quarter. Panagora Asset Management Inc.’s holdings in Standex International were worth $366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nicholas Investment Partners LP grew its holdings in Standex International by 14.0% in the fourth quarter. Nicholas Investment Partners LP now owns 48,555 shares of the industrial products company’s stock worth $7,690,000 after purchasing an additional 5,974 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Standex International by 7.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,835 shares of the industrial products company’s stock worth $291,000 after buying an additional 126 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Standex International in the fourth quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC bought a new position in shares of Standex International in the fourth quarter worth approximately $491,000. Finally, SRS Capital Advisors Inc. lifted its stake in shares of Standex International by 341.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 322 shares of the industrial products company’s stock worth $51,000 after buying an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Standex International Stock Up 0.9 %

Shares of Standex International stock opened at $169.19 on Friday. Standex International Co. has a twelve month low of $130.04 and a twelve month high of $184.18. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 2.63 and a beta of 1.06. The company has a quick ratio of 2.65, a current ratio of 3.43 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $174.19 and its 200 day moving average is $159.54.

Standex International (NYSE:SXI) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.08. Standex International had a net margin of 10.11% and a return on equity of 13.72%. The business had revenue of $177.30 million during the quarter, compared to analysts’ expectations of $180.06 million. During the same period in the prior year, the company earned $1.65 earnings per share. The firm’s revenue was down 3.8% on a year-over-year basis. Research analysts anticipate that Standex International Co. will post 7.1 EPS for the current year.

Standex International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.20 dividend on an annualized basis and a yield of 0.71%. Standex International’s dividend payout ratio is currently 19.42%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SXI. StockNews.com downgraded shares of Standex International from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 5th. Barrington Research restated an “outperform” rating and set a $180.00 price objective on shares of Standex International in a research report on Monday, May 6th. Benchmark restated a “buy” rating and set a $190.00 price objective on shares of Standex International in a research report on Friday, May 3rd. Finally, DA Davidson increased their price objective on shares of Standex International from $200.00 to $203.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $191.00.

Insider Buying and Selling at Standex International

In other Standex International news, CEO David A. Dunbar sold 4,901 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $180.00, for a total transaction of $882,180.00. Following the completion of the sale, the chief executive officer now directly owns 57,332 shares of the company’s stock, valued at $10,319,760. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Charles H. Cannon, Jr. sold 2,460 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $178.02, for a total value of $437,929.20. Following the completion of the sale, the director now directly owns 862 shares of the company’s stock, valued at $153,453.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David A. Dunbar sold 4,901 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $180.00, for a total transaction of $882,180.00. Following the completion of the sale, the chief executive officer now directly owns 57,332 shares of the company’s stock, valued at $10,319,760. The disclosure for this sale can be found here. 2.28% of the stock is owned by corporate insiders.

Standex International Company Profile

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.