Copeland Capital Management LLC Sells 163,708 Shares of Standex International Corporation $SXI

Key Points

• Copeland Capital Management cut its Standex International position by 98.5%, selling 163,708 shares in the third quarter and retaining 2,485 shares valued at approximately $679,000.
• Standex reported quarterly earnings of $2.45 per share, exceeding estimates of $2.35, while revenue rose 2.8% year over year to $228.25 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $304, compared with the stock’s reported price of $273.75; the company also pays a quarterly dividend of $0.34.

Copeland Capital Management LLC reduced its position in shares of Standex International Corporation (NYSE:SXI - Free Report) by 98.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,485 shares of the industrial products company's stock after selling 163,708 shares during the period. Copeland Capital Management LLC's holdings in Standex International were worth $679,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SXI. GAMMA Investing LLC grew its stake in shares of Standex International by 13.2% in the 3rd quarter. GAMMA Investing LLC now owns 343 shares of the industrial products company's stock valued at $94,000 after buying an additional 40 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of Standex International during the 2nd quarter worth approximately $266,000. Squarepoint Ops LLC acquired a new stake in shares of Standex International during the 2nd quarter worth approximately $1,518,000. Nykredit A S purchased a new stake in shares of Standex International during the 2nd quarter valued at approximately $204,000. Finally, Corient Private Wealth LP purchased a new stake in shares of Standex International during the 2nd quarter valued at approximately $768,000. Institutional investors and hedge funds own 90.35% of the company's stock.

Standex International Price Performance

Standex International stock opened at $273.75 on Thursday. The company's 50 day simple moving average is $290.37 and its 200-day simple moving average is $288.77. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 3.15 and a beta of 1.07. Standex International Corporation has a 1 year low of $215.62 and a 1 year high of $363.89. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.84 and a current ratio of 2.40.

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

Standex International Dividend Announcement

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

Analyst Ratings Changes

SXI has been the topic of a number of recent analyst reports. DA Davidson reiterated a "buy" rating and issued a $350.00 price objective on shares of Standex International in a report on Thursday, August 20th. JPMorgan Chase & Co. began coverage on Standex International in a research note on Wednesday. They set a "neutral" rating and a $320.00 target price for the company. Finally, Weiss Ratings cut Standex International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, September 18th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $304.00.

Insider Transactions at Standex International

In other Standex International news, CEO David Dunbar sold 13,000 shares of the company's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $290.82, for a total transaction of $3,780,660.00. Following the transaction, the chief executive officer directly owned 75,973 shares in the company, valued at $22,094,467.86. This represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. Insiders sold a total of 13,100 shares of company stock valued at $3,810,182 over the last 90 days. 2.00% of the stock is owned by insiders.

Standex International Company Profile

Standex International Corporation NYSE: SXI is a diversified manufacturing company headquartered in Salem, New Hampshire. Founded in 1955, the company designs and produces specialized industrial and commercial products for customers in a range of global markets.

Standex's businesses include electronic components and systems such as sensors, reed switches, magnetic components, fluid-level controls and high-voltage products. The company also provides precision engraving and texturing technologies used in tooling, packaging, printing and other manufacturing applications, as well as engineered hydraulic and industrial products.

Standex serves customers internationally through manufacturing and operating locations in North America, Europe and Asia.

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