California State Teachers Retirement System Trims Stock Holdings in Standex International Corporation $SXI

California State Teachers Retirement System lessened its holdings in Standex International Corporation (NYSE:SXI - Free Report) by 7.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,574 shares of the industrial products company's stock after selling 1,030 shares during the period. California State Teachers Retirement System owned 0.11% of Standex International worth $4,855,013 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SXI. BlackRock Inc. purchased a new stake in shares of Standex International in the second quarter valued at about $640,120,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Standex International in the second quarter worth $149,891,000. Bank of New York Mellon Corp bought a new stake in shares of Standex International during the second quarter valued at about $65,337,000. Sei Investments Co. boosted its stake in Standex International by 4.5% in the 1st quarter. Sei Investments Co. now owns 105,064 shares of the industrial products company's stock worth $26,774,000 after purchasing an additional 4,520 shares during the period. Finally, Kennedy Capital Management LLC raised its stake in shares of Standex International by 14.3% in the 4th quarter. Kennedy Capital Management LLC now owns 95,841 shares of the industrial products company's stock valued at $20,824,000 after acquiring an additional 11,998 shares in the last quarter. 90.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SXI shares. Zacks Research upgraded Standex International from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. DA Davidson reiterated a "buy" rating and set a $350.00 price target on shares of Standex International in a research report on Thursday, August 20th. Finally, Weiss Ratings raised Standex International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, September 3rd. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $298.67.

Standex International Stock Performance

NYSE:SXI traded down $0.46 during midday trading on Tuesday, reaching $256.80. The stock had a trading volume of 63,406 shares, compared to its average volume of 171,890. The company has a quick ratio of 1.84, a current ratio of 2.40 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $303.24 and a two-hundred day simple moving average of $285.91. Standex International Corporation has a 12-month low of $199.80 and a 12-month high of $363.89. The stock has a market cap of $3.15 billion, a P/E ratio of 29.64, a P/E/G ratio of 3.00 and a beta of 1.04.

Standex International (NYSE:SXI - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The industrial products company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.10. Standex International had a net margin of 11.73% and a return on equity of 14.47%. The company had revenue of $228.25 million during the quarter, compared to analyst estimates of $226.47 million. During the same period last year, the business earned $2.28 EPS. The firm's revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts expect that Standex International Corporation will post 9.96 EPS for the current year.

Standex International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, August 7th. Standex International's dividend payout ratio is presently 15.69%.

Insiders Place Their Bets

In other news, CEO David Dunbar sold 13,000 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $290.82, for a total transaction of $3,780,660.00. Following the completion of the transaction, the chief executive officer directly owned 75,973 shares of the company's stock, valued at $22,094,467.86. This represents a 14.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 13,150 shares of company stock worth $3,827,958. 2.00% of the stock is currently owned by corporate insiders.

Standex International Company Profile

Standex International Corporation NYSE: SXI is a diversified industrial manufacturer that designs and produces specialized products for a range of industrial, commercial and consumer applications. The company serves customers through businesses focused on electronics, engraving, hydraulics, food service equipment and other engineered products.

Its electronics operations manufacture components and systems such as magnetic products, transformers, sensors, switches and other power and electronic technologies.

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