American Century Companies Inc. Boosts Holdings in Standex International Corporation $SXI

Key Points

• American Century Companies Inc. increased its stake in Standex International Corporation by 13.2%, owning approximately 30,312 shares valued at $4.89 million.
• Wall Street analysts have given Standex International a consensus rating of "Buy" with an average price target of $223.50, reflecting positive future growth expectations.
• The company reported a 23.2% increase in quarterly revenue compared to the prior year, with earnings per share of $2.28 surpassing estimates.

American Century Companies Inc. boosted its position in shares of Standex International Corporation (NYSE:SXI - Free Report) by 13.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,312 shares of the industrial products company's stock after buying an additional 3,543 shares during the quarter. American Century Companies Inc. owned approximately 0.25% of Standex International worth $4,892,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. raised its holdings in Standex International by 46.3% during the 1st quarter. Whittier Trust Co. now owns 218 shares of the industrial products company's stock valued at $35,000 after buying an additional 69 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in Standex International by 29.9% during the 1st quarter. TD Private Client Wealth LLC now owns 330 shares of the industrial products company's stock valued at $53,000 after buying an additional 76 shares during the last quarter. Versant Capital Management Inc raised its holdings in Standex International by 25.9% during the 1st quarter. Versant Capital Management Inc now owns 379 shares of the industrial products company's stock valued at $61,000 after buying an additional 78 shares during the last quarter. Moody National Bank Trust Division raised its holdings in Standex International by 6.8% during the 1st quarter. Moody National Bank Trust Division now owns 1,415 shares of the industrial products company's stock valued at $228,000 after buying an additional 90 shares during the last quarter. Finally, Baird Financial Group Inc. raised its holdings in Standex International by 4.5% during the 4th quarter. Baird Financial Group Inc. now owns 2,299 shares of the industrial products company's stock valued at $430,000 after buying an additional 100 shares during the last quarter. 90.35% of the stock is currently owned by institutional investors.

Insider Activity at Standex International

In other Standex International news, Director Thomas J. Hansen sold 2,992 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $202.60, for a total transaction of $606,179.20. Following the sale, the director owned 8,439 shares in the company, valued at approximately $1,709,741.40. This trade represents a 26.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David A. Dunbar sold 16,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $200.00, for a total transaction of $3,200,000.00. Following the sale, the chief executive officer owned 115,576 shares in the company, valued at approximately $23,115,200. The trade was a 12.16% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SXI. Wall Street Zen lowered shares of Standex International from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Barrington Research restated an "outperform" rating and issued a $220.00 price objective on shares of Standex International in a report on Tuesday, July 29th. DA Davidson upped their price objective on shares of Standex International from $200.00 to $219.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Finally, Roth Capital restated a "buy" rating and issued a $205.00 price objective (up from $175.00) on shares of Standex International in a report on Monday, August 4th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $223.50.

Standex International Stock Up 3.3%

Shares of NYSE:SXI traded up $6.55 during midday trading on Thursday, reaching $206.04. The company's stock had a trading volume of 98,782 shares, compared to its average volume of 109,351. The firm has a 50 day moving average of $181.45 and a 200-day moving average of $166.33. The firm has a market capitalization of $2.49 billion, a P/E ratio of 44.41, a PEG ratio of 2.54 and a beta of 1.12. The company has a quick ratio of 2.10, a current ratio of 2.88 and a debt-to-equity ratio of 0.78. Standex International Corporation has a 12-month low of $128.85 and a 12-month high of $212.65.

Standex International (NYSE:SXI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.10 by $0.18. Standex International had a net margin of 7.06% and a return on equity of 13.92%. The company had revenue of $222.05 million for the quarter, compared to the consensus estimate of $214.44 million. During the same period in the prior year, the firm posted $1.76 EPS. Standex International's revenue for the quarter was up 23.2% on a year-over-year basis. On average, research analysts anticipate that Standex International Corporation will post 7.9 earnings per share for the current year.

Standex International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, August 8th. Standex International's dividend payout ratio is 27.59%.

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.