Anchor Capital Management Company LLC Buys Shares of 56,396 Standex International Corporation $SXI

Key Points

• Anchor Capital Management acquired 56,396 shares of Standex International Corporation valued at approximately $9.1 million, making it the firm's 4th largest holding.
• Standex International reported a significant earnings beat with a EPS of $2.28 for the last quarter, exceeding estimates by $0.18, and recorded a 23.2% year-over-year revenue increase.
• The company has a dividend yield of 0.6% with a quarterly dividend of $0.32 per share, reaffirming its financial health amid growing institutional interest with 90.35% of its stock held by institutional investors.

Anchor Capital Management Company LLC acquired a new position in shares of Standex International Corporation (NYSE:SXI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 56,396 shares of the industrial products company's stock, valued at approximately $9,102,000. Standex International makes up about 9.1% of Anchor Capital Management Company LLC's investment portfolio, making the stock its 4th biggest holding. Anchor Capital Management Company LLC owned approximately 0.47% of Standex International as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SXI. Champlain Investment Partners LLC lifted its position in shares of Standex International by 1.0% during the 1st quarter. Champlain Investment Partners LLC now owns 590,551 shares of the industrial products company's stock worth $95,309,000 after buying an additional 6,121 shares during the period. Ameriprise Financial Inc. raised its position in Standex International by 15.6% in the 4th quarter. Ameriprise Financial Inc. now owns 346,635 shares of the industrial products company's stock valued at $64,817,000 after purchasing an additional 46,869 shares during the last quarter. Northern Trust Corp raised its position in Standex International by 2.1% in the 1st quarter. Northern Trust Corp now owns 209,316 shares of the industrial products company's stock valued at $33,782,000 after purchasing an additional 4,389 shares during the last quarter. Handelsbanken Fonder AB raised its position in Standex International by 12.2% in the 1st quarter. Handelsbanken Fonder AB now owns 143,500 shares of the industrial products company's stock valued at $23,159,000 after purchasing an additional 15,600 shares during the last quarter. Finally, Raymond James Financial Inc. raised its position in Standex International by 131.1% in the 1st quarter. Raymond James Financial Inc. now owns 139,589 shares of the industrial products company's stock valued at $22,528,000 after purchasing an additional 79,181 shares during the last quarter. Institutional investors and hedge funds own 90.35% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, Director Thomas J. Hansen sold 2,992 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $202.60, for a total transaction of $606,179.20. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David A. Dunbar sold 16,000 shares of the stock in a transaction that occurred 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 approximately $23,115,200. This trade represents a 12.16% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Standex International Stock Performance

NYSE:SXI traded up $3.47 on Friday, hitting $209.37. The company's stock had a trading volume of 97,579 shares, compared to its average volume of 108,115. The firm has a market capitalization of $2.53 billion, a P/E ratio of 45.12, a price-to-earnings-growth ratio of 2.63 and a beta of 1.12. The company has a current ratio of 2.88, a quick ratio of 2.10 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 has a fifty day moving average of $182.45 and a two-hundred day moving average of $166.46.

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

Standex International Dividend Announcement

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

Standex International Company 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.