36,532 Shares of Standex International Corporation $SXI Purchased by Bank of America Corp DE

Key Points

• Bank of America purchased 36,532 shares of Standex International during the second quarter, a stake valued at approximately $13.1 million. Institutional investors collectively own 90.35% of the company.
• Standex beat quarterly estimates, reporting $2.45 in EPS and $228.25 million in revenue, with revenue rising 2.8% year over year.
• The company maintains a quarterly dividend of $0.34 per share, while analysts hold a “Moderate Buy” consensus rating with an average price target of $298.67. CEO David Dunbar separately sold 13,000 shares under a pre-arranged trading plan.

Bank of America Corp DE purchased a new stake in Standex International Corporation (NYSE:SXI - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,532 shares of the industrial products company's stock, valued at approximately $13,066,000. Bank of America Corp DE owned about 0.30% of Standex International at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Standex International by 13.1% in the second quarter. GAMMA Investing LLC now owns 303 shares of the industrial products company's stock worth $108,000 after acquiring an additional 35 shares during the last quarter. Personal CFO Solutions LLC grew its holdings in shares of Standex International by 2.3% during the first quarter. Personal CFO Solutions LLC now owns 2,377 shares of the industrial products company's stock worth $606,000 after buying an additional 54 shares in the last quarter. Cedar Mountain Advisors LLC acquired a new position in shares of Standex International in the first quarter valued at approximately $29,000. Kestra Advisory Services LLC lifted its stake in shares of Standex International by 10.5% during the first quarter. Kestra Advisory Services LLC now owns 1,303 shares of the industrial products company's stock valued at $332,000 after buying an additional 124 shares during the period. Finally, Allworth Financial LP acquired a new stake in Standex International during the second quarter worth approximately $46,000. 90.35% of the stock is owned by hedge funds and other institutional investors.

Standex International Trading Up 0.4%

NYSE SXI opened at $280.81 on Friday. The company's fifty day simple moving average is $295.82 and its 200-day simple moving average is $286.21. Standex International Corporation has a 52 week low of $201.07 and a 52 week high of $363.89. The company has a current ratio of 2.40, a quick ratio of 1.84 and a debt-to-equity ratio of 0.69. The stock has a market cap of $3.45 billion, a P/E ratio of 32.39, a PEG ratio of 3.12 and a beta of 1.04.

Standex International (NYSE:SXI - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The industrial products company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.35 by $0.10. Standex International had a net margin of 11.73% and a return on equity of 14.47%. The business had revenue of $228.25 million during the quarter, compared to analyst estimates of $226.47 million. During the same period last year, the business earned $2.28 EPS. The business's revenue was up 2.8% on a year-over-year basis. Equities research analysts predict that Standex International Corporation will post 9.96 EPS for the current fiscal year.

Standex International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, August 7th. Standex International's payout ratio is presently 15.69%.

Insider Activity

In related news, CEO David Dunbar sold 13,000 shares of the business's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $290.82, for a total value of $3,780,660.00. Following the transaction, the chief executive officer owned 75,973 shares in the company, valued at approximately $22,094,467.86. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,150 shares of company stock worth $3,827,958 over the last 90 days. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SXI has been the subject of a number of recent analyst reports. DA Davidson reaffirmed a "buy" rating and issued a $350.00 price objective on shares of Standex International in a research report on Thursday, August 20th. Weiss Ratings lowered Standex International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, September 18th. Finally, Zacks Research upgraded Standex International from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $298.67.

About Standex International

Standex International Corporation NYSE: SXI is a diversified industrial manufacturer that designs and produces specialized products for a range of industrial, commercial and consumer applications. The company serves customers through businesses focused on electronics, engraving, hydraulics, food service equipment and other engineered products.

Its electronics operations manufacture components and systems such as magnetic products, transformers, sensors, switches and other power and electronic technologies.

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