3,401 Shares in Standex International Corporation (NYSE:SXI) Purchased by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC has invested $549,000 in Standex International Corporation, acquiring 3,401 shares during the first quarter.
• Standex International recently posted earnings that exceeded analyst expectations, reporting $2.28 EPS and quarterly revenue of $222.05 million, reflecting a 23.2% increase year-over-year.
• The company has announced a quarterly dividend of $0.32 per share, with a payout ratio of 27.59%, and the dividend yield stands at 0.7%.

Cary Street Partners Financial LLC acquired a new stake in shares of Standex International Corporation (NYSE:SXI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,401 shares of the industrial products company's stock, valued at approximately $549,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Whipplewood Advisors LLC raised its stake in Standex International by 965.0% during the 1st quarter. Whipplewood Advisors LLC now owns 213 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 193 shares in the last quarter. Whittier Trust Co. raised its stake in shares of Standex International by 46.3% in the 1st quarter. Whittier Trust Co. now owns 218 shares of the industrial products company's stock worth $35,000 after buying an additional 69 shares in the last quarter. TD Private Client Wealth LLC raised its stake in shares of Standex International by 29.9% in the 1st quarter. TD Private Client Wealth LLC now owns 330 shares of the industrial products company's stock worth $53,000 after buying an additional 76 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Standex International by 25.9% in the 1st quarter. Versant Capital Management Inc now owns 379 shares of the industrial products company's stock worth $61,000 after buying an additional 78 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Standex International by 25.2% in the 1st quarter. Fifth Third Bancorp now owns 780 shares of the industrial products company's stock worth $126,000 after buying an additional 157 shares in the last quarter. Institutional investors and hedge funds own 90.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities 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 stock a "buy" rating in a report on Monday, August 4th. Roth Capital restated a "buy" rating and set a $205.00 price objective (up previously from $175.00) on shares of Standex International in a report on Monday, August 4th. Wall Street Zen downgraded Standex International from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Barrington Research restated an "outperform" rating and set a $220.00 price objective on shares of Standex International in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $223.50.

Insider Activity

In other news, Director Barbara Joanne Edwards sold 355 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $156.13, for a total transaction of $55,426.15. Following the completion of the sale, the director owned 5,259 shares in the company, valued at approximately $821,087.67. This represents a 6.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.10% of the company's stock.

Standex International Stock Up 4.6%

NYSE:SXI traded up $8.57 during trading hours on Tuesday, hitting $196.75. 208,807 shares of the company's stock traded hands, compared to its average volume of 90,065. The firm has a market cap of $2.37 billion, a P/E ratio of 42.40, a P/E/G ratio of 2.39 and a beta of 1.11. Standex International Corporation has a twelve month low of $128.85 and a twelve month high of $212.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.10 and a current ratio of 2.88. The stock's fifty day moving average price is $163.51 and its two-hundred day moving average price is $164.08.

Standex International (NYSE:SXI - Get Free Report) last issued its earnings results on Thursday, July 31st. The industrial products company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $2.10 by $0.18. Standex International had a return on equity of 13.92% and a net margin of 7.06%. The firm had revenue of $222.05 million for the quarter, compared to the consensus estimate of $214.44 million. During the same quarter in the previous year, the company posted $1.76 earnings per share. The business's quarterly revenue was up 23.2% compared to the same quarter last year. On average, research analysts expect that Standex International Corporation will post 7.9 earnings per share for the current fiscal year.

Standex International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, August 8th. Standex International's dividend payout ratio is 27.59%.

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.