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. cut its position in shares of Standex International Corporation (NYSE:SXI - Free Report) by 12.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SXI. Northern Trust Corp grew its stake in shares of Standex International by 2.1% during the 1st quarter. Northern Trust Corp now owns 209,316 shares of the industrial products company's stock worth $33,782,000 after acquiring an additional 4,389 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Standex International by 12.2% during the first quarter. Handelsbanken Fonder AB now owns 143,500 shares of the industrial products company's stock worth $23,159,000 after purchasing an additional 15,600 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in Standex International by 131.1% during the first quarter. Raymond James Financial Inc. now owns 139,589 shares of the industrial products company's stock worth $22,528,000 after purchasing an additional 79,181 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Standex International by 6.9% in the first quarter. Envestnet Asset Management Inc. now owns 108,476 shares of the industrial products company's stock valued at $17,507,000 after purchasing an additional 7,010 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Standex International by 30.2% during the 1st quarter. Invesco Ltd. now owns 73,944 shares of the industrial products company's stock worth $11,934,000 after buying an additional 17,139 shares during the last quarter. Institutional investors own 90.35% of the company's stock.

Standex International Stock Performance

Shares of NYSE SXI opened at $210.97 on Thursday. The company has a current ratio of 2.88, a quick ratio of 2.10 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $2.55 billion, a P/E ratio of 45.47, a P/E/G ratio of 2.68 and a beta of 1.11. Standex International Corporation has a 12 month low of $128.85 and a 12 month high of $212.65. The stock has a 50 day moving average of $175.86 and a 200-day moving average of $165.79.

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 (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.18. Standex International had a return on equity of 13.92% and a net margin of 7.06%.The business had revenue of $222.05 million during the quarter, compared to the consensus estimate of $214.44 million. During the same quarter last year, the firm posted $1.76 EPS. The company's quarterly revenue was up 23.2% on a year-over-year basis. As a group, equities research analysts predict that Standex International Corporation will post 7.9 EPS for the current year.

Standex International Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. DA Davidson lifted their target price on Standex International from $200.00 to $219.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Wall Street Zen lowered Standex International from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Barrington Research reiterated an "outperform" rating and set a $220.00 price objective on shares of Standex International in a research note on Tuesday, July 29th. Finally, Roth Capital reissued a "buy" rating and issued a $205.00 target price (up from $175.00) on shares of Standex International in a research note on Monday, August 4th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $223.50.

Insider Buying and Selling at Standex International

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

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.

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