Bank of New York Mellon Corp Reduces Stock Holdings in Standex International Corporation (NYSE:SXI)

Bank of New York Mellon Corp cut its holdings in shares of Standex International Corporation (NYSE:SXI - Free Report) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 97,227 shares of the industrial products company's stock after selling 3,952 shares during the quarter. Bank of New York Mellon Corp owned about 0.82% of Standex International worth $15,691,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of SXI. Wasatch Advisors LP boosted its stake in shares of Standex International by 14.0% during the 4th quarter. Wasatch Advisors LP now owns 524,446 shares of the industrial products company's stock worth $98,066,000 after acquiring an additional 64,373 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of 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 acquiring an additional 46,869 shares during the last quarter. Norges Bank bought a new position in Standex International in the fourth quarter worth about $7,122,000. GAMMA Investing LLC increased its stake in shares of Standex International by 16,968.6% during the first quarter. GAMMA Investing LLC now owns 32,601 shares of the industrial products company's stock valued at $5,261,000 after acquiring an additional 32,410 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Standex International by 65.1% during the 4th quarter. JPMorgan Chase & Co. now owns 80,031 shares of the industrial products company's stock valued at $14,965,000 after purchasing an additional 31,560 shares in the last quarter. 90.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Standex International

In related 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 transaction, the director directly owned 5,259 shares of the company's stock, valued at $821,087.67. This represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by insiders.

Standex International Stock Performance

Shares of SXI stock traded up $4.01 during trading hours on Wednesday, hitting $161.10. 61,414 shares of the company were exchanged, compared to its average volume of 67,012. The firm has a fifty day simple moving average of $156.51 and a 200 day simple moving average of $165.19. The company has a current ratio of 3.40, a quick ratio of 2.56 and a debt-to-equity ratio of 0.84. Standex International Corporation has a 52-week low of $128.85 and a 52-week high of $212.66. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 31.84, a P/E/G ratio of 2.01 and a beta of 1.06.

Standex International (NYSE:SXI - Get Free Report) last released 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. Standex International had a net margin of 8.09% and a return on equity of 13.39%. The firm had revenue of $207.78 million during the quarter, compared to analyst estimates of $203.71 million. During the same period in the previous year, the business earned $1.75 EPS. The business's revenue for the quarter was up 17.2% on a year-over-year basis. Research analysts predict that Standex International Corporation will post 7.9 earnings per share for the current fiscal year.

Standex International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, May 9th. Standex International's dividend payout ratio (DPR) is 25.30%.

Wall Street Analyst Weigh In

SXI has been the subject of a number of research analyst reports. Barrington Research reiterated an "outperform" rating and issued a $220.00 target price on shares of Standex International in a research note on Friday, May 2nd. DA Davidson reduced their price objective on shares of Standex International from $207.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Wall Street Zen upgraded shares of Standex International from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Finally, Roth Capital raised shares of Standex International to a "strong-buy" rating in a research note on Wednesday, April 9th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $223.33.

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.