Ameriprise Financial Inc. Sells 44,433 Shares of Standex International Corporation $SXI

Key Points

• Ameriprise Financial Inc. reduced its stake in Standex International Corporation by 12.8%, selling 44,433 shares during the first quarter, now owning a total of 302,202 shares valued at approximately $48.77 million.
• Standex International reported strong quarterly earnings of $2.28 per share, exceeding estimates, with revenue rising 23.2% year-over-year to $222.05 million.
• The company recently announced a quarterly dividend of $0.32 per share, with a current dividend yield of 0.6% and a payout ratio of 27.59%.

Ameriprise Financial Inc. reduced its holdings in Standex International Corporation (NYSE:SXI - Free Report) by 12.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 302,202 shares of the industrial products company's stock after selling 44,433 shares during the quarter. Ameriprise Financial Inc. owned 2.50% of Standex International worth $48,771,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC grew its stake in Standex International by 965.0% in the 1st quarter. Whipplewood Advisors LLC now owns 213 shares of the industrial products company's stock worth $34,000 after buying an additional 193 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Standex International by 46.3% during the 1st quarter. Whittier Trust Co. now owns 218 shares of the industrial products company's stock worth $35,000 after acquiring an additional 69 shares during the last quarter. TD Private Client Wealth LLC grew its position in Standex International by 29.9% in the first quarter. TD Private Client Wealth LLC now owns 330 shares of the industrial products company's stock worth $53,000 after acquiring an additional 76 shares in the last quarter. Versant Capital Management Inc increased its stake in Standex International by 25.9% in the first quarter. Versant Capital Management Inc now owns 379 shares of the industrial products company's stock valued at $61,000 after acquiring an additional 78 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Standex International by 25.2% during the first quarter. Fifth Third Bancorp now owns 780 shares of the industrial products company's stock valued at $126,000 after purchasing an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 90.35% of the company's stock.

Standex International Trading Down 0.7%

Shares of Standex International stock traded down $1.34 on Tuesday, hitting $202.73. The stock had a trading volume of 73,755 shares, compared to its average volume of 115,603. 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 one year low of $128.85 and a one year high of $212.65. The stock's 50-day simple moving average is $179.63 and its two-hundred day simple moving average is $165.98. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 43.69, a PEG ratio of 2.60 and a beta of 1.12.

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

Standex International Announces Dividend

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

Insider Buying and Selling at Standex International

In related news, CEO David A. Dunbar sold 16,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were 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 of the company's stock, valued at $23,115,200. The trade was a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas J. Hansen sold 2,992 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $202.60, for a total transaction of $606,179.20. Following the completion of 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 disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SXI shares. Wall Street Zen cut Standex International from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Barrington Research reiterated an "outperform" rating and set a $220.00 price target on shares of Standex International in a research report on Tuesday, July 29th. DA Davidson boosted 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 reaffirmed a "buy" rating and issued a $205.00 price objective (up previously from $175.00) on shares of Standex International in a research note on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $223.50.

About Standex International

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.