Bank of America Corp DE Lowers Stake in Standex International Co. (NYSE:SXI)

Bank of America Corp DE lowered its stake in Standex International Co. (NYSE:SXI - Free Report) by 12.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,605 shares of the industrial products company's stock after selling 3,398 shares during the quarter. Bank of America Corp DE owned approximately 0.20% of Standex International worth $4,414,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Maryland State Retirement & Pension System grew its holdings in Standex International by 1.6% during the fourth quarter. Maryland State Retirement & Pension System now owns 4,069 shares of the industrial products company's stock worth $761,000 after purchasing an additional 66 shares during the period. Keeley Teton Advisors LLC increased its position in Standex International by 3.4% during the fourth quarter. Keeley Teton Advisors LLC now owns 3,022 shares of the industrial products company's stock worth $565,000 after buying an additional 99 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Standex International by 1.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 5,800 shares of the industrial products company's stock worth $1,085,000 after buying an additional 100 shares during the last quarter. State of Alaska Department of Revenue increased its position in Standex International by 1.5% during the fourth quarter. State of Alaska Department of Revenue now owns 6,866 shares of the industrial products company's stock worth $1,283,000 after buying an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in Standex International by 3.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,886 shares of the industrial products company's stock worth $540,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 90.35% of the company's stock.

Analysts Set New Price Targets

SXI has been the subject of a number of research analyst reports. Wall Street Zen upgraded Standex International from a "hold" rating to a "buy" rating in a report on Saturday. DA Davidson reduced their price objective on Standex International from $207.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. William Blair restated an "outperform" rating on shares of Standex International in a report on Tuesday, March 11th. Barrington Research restated an "outperform" rating and set a $220.00 price objective on shares of Standex International in a report on Friday, May 2nd. Finally, Roth Capital upgraded Standex International to a "strong-buy" rating in a report on Wednesday, April 9th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Standex International currently has an average rating of "Buy" and an average price target of $223.33.

Insider Buying and Selling

In other Standex International news, Director Barbara Joanne Edwards sold 355 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $156.13, for a total value of $55,426.15. Following the completion of the sale, the director now owns 5,259 shares in the company, valued at approximately $821,087.67. This trade represents a 6.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.10% of the stock is currently owned by company insiders.

Standex International Trading Down 1.5%

Shares of Standex International stock traded down $2.31 during trading on Monday, hitting $148.63. The company's stock had a trading volume of 67,636 shares, compared to its average volume of 57,457. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.37 and a quick ratio of 2.61. Standex International Co. has a 52 week low of $128.85 and a 52 week high of $212.66. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 2.63 and a beta of 1.08. The stock has a 50-day moving average price of $147.81 and a two-hundred day moving average price of $175.42.

Standex International (NYSE:SXI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.95 EPS for the quarter, beating analysts' consensus estimates of $1.92 by $0.03. The business had revenue of $207.78 million for the quarter, compared to analysts' expectations of $203.71 million. Standex International had a net margin of 7.59% and a return on equity of 13.28%. The business's quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.75 earnings per share. Equities research analysts anticipate that Standex International Co. will post 7.9 EPS for the current fiscal year.

Standex International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a $0.32 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.86%. Standex International's dividend payout ratio is presently 25.30%.

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.