Charles Schwab Investment Management Inc. Sells 1,562 Shares of Standex International Corporation $SXI

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Standex International by 1.0%, bringing its total ownership to 147,333 shares valued at approximately $23.78 million.
• Recent analyst ratings for Standex International include an "outperform" rating from Barrington Research and a "buy" rating from Roth Capital, with target prices ranging from $205.00 to $223.50.
• Standex International declared a quarterly dividend of $0.32, equating to an annualized dividend of $1.28 and a yield of 0.6%, with record date set for August 8th.

Charles Schwab Investment Management Inc. cut its stake in Standex International Corporation (NYSE:SXI - Free Report) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 147,333 shares of the industrial products company's stock after selling 1,562 shares during the period. Charles Schwab Investment Management Inc. owned 1.22% of Standex International worth $23,778,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cary Street Partners Financial LLC purchased a new stake in Standex International in the first quarter worth about $549,000. Blair William & Co. IL purchased a new position in shares of Standex International during the first quarter valued at approximately $202,000. LPL Financial LLC lifted its holdings in shares of Standex International by 92.1% during the first quarter. LPL Financial LLC now owns 9,232 shares of the industrial products company's stock valued at $1,490,000 after purchasing an additional 4,425 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Standex International by 8.4% during the first quarter. Assetmark Inc. now owns 10,800 shares of the industrial products company's stock valued at $1,743,000 after purchasing an additional 841 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Standex International by 7.4% during the first quarter. Cetera Investment Advisers now owns 4,176 shares of the industrial products company's stock valued at $674,000 after purchasing an additional 289 shares during the last quarter. 90.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Thomas J. Hansen sold 2,992 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $202.60, for a total transaction of $606,179.20. Following the completion of the sale, the director owned 8,439 shares of the company's stock, valued at $1,709,741.40. The trade was a 26.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David A. Dunbar sold 16,000 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $200.00, for a total transaction of $3,200,000.00. Following the sale, the chief executive officer directly owned 115,576 shares of the company's stock, valued at approximately $23,115,200. The trade was a 12.16% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

Standex International Stock Performance

SXI traded up $1.53 during mid-day trading on Tuesday, reaching $210.94. 58,035 shares of the company traded hands, compared to its average volume of 144,359. The stock has a market capitalization of $2.55 billion, a P/E ratio of 45.46, a P/E/G ratio of 2.67 and a beta of 1.11. The company has a quick ratio of 2.10, a current ratio of 2.88 and a debt-to-equity ratio of 0.78. The company's fifty day moving average price is $174.78 and its 200-day moving average price is $165.48. Standex International Corporation has a 52-week low of $128.85 and a 52-week high of $212.65.

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, beating analysts' consensus estimates of $2.10 by $0.18. The business had revenue of $222.05 million during the quarter, compared to analyst estimates of $214.44 million. Standex International had a net margin of 7.06% and a return on equity of 13.92%. The company's quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.76 EPS. On average, sell-side analysts expect that Standex International Corporation will post 7.9 EPS for the current year.

Standex International Dividend Announcement

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

Analyst Ratings Changes

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

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.