Copeland Capital Management LLC Trims Stock Position in Standex International Corporation $SXI

Key Points

• Copeland Capital Management LLC reduced its stake in Standex International Corporation by 17.0%, selling 86,044 shares during the second quarter, which now constitutes about 1.4% of their overall portfolio.
• Standex International's CEO, David A. Dunbar, sold 16,000 shares for $3.2 million, reflecting a 12.16% decrease in his ownership.
• A majority of analysts have rated Standex International as a "buy" with an average price target of $223.50, indicating strong expectations for its future performance.

Copeland Capital Management LLC reduced its position in Standex International Corporation (NYSE:SXI - Free Report) by 17.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 420,164 shares of the industrial products company's stock after selling 86,044 shares during the period. Standex International accounts for about 1.4% of Copeland Capital Management LLC's portfolio, making the stock its 25th largest position. Copeland Capital Management LLC owned approximately 3.48% of Standex International worth $65,747,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue boosted its holdings in shares of Standex International by 8.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,183 shares of the industrial products company's stock valued at $1,123,000 after buying an additional 590 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of Standex International by 6.3% in the 2nd quarter. Diversified Trust Co now owns 6,612 shares of the industrial products company's stock valued at $1,035,000 after buying an additional 390 shares in the last quarter. Moody National Bank Trust Division boosted its holdings in shares of Standex International by 5.4% in the 2nd quarter. Moody National Bank Trust Division now owns 1,492 shares of the industrial products company's stock valued at $233,000 after buying an additional 77 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of Standex International by 13.2% in the 2nd quarter. Central Pacific Bank Trust Division now owns 2,266 shares of the industrial products company's stock valued at $355,000 after buying an additional 265 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of Standex International by 1,619.8% in the 1st quarter. Voya Investment Management LLC now owns 130,860 shares of the industrial products company's stock valued at $21,119,000 after buying an additional 123,251 shares in the last quarter. 90.35% of the stock is currently owned by institutional investors.

Insider Activity

In other Standex International news, CEO David A. Dunbar sold 16,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $200.00, for a total value of $3,200,000.00. Following the transaction, the chief executive officer owned 115,576 shares of the company's stock, valued at $23,115,200. This represents a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas J. Hansen sold 2,992 shares of the company's stock in a transaction dated 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 transaction, the director directly owned 8,439 shares in the company, valued at $1,709,741.40. The trade was a 26.17% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,992 shares of company stock worth $6,171,179. Corporate insiders own 2.52% of the company's stock.

Standex International Price Performance

NYSE:SXI opened at $215.26 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.88 and a quick ratio of 2.10. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 46.39, a price-to-earnings-growth ratio of 2.69 and a beta of 1.15. The company has a 50 day moving average price of $199.65 and a 200-day moving average price of $169.48. Standex International Corporation has a 1-year low of $128.85 and a 1-year high of $215.99.

Standex International (NYSE:SXI - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The industrial products company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.10 by $0.18. The company 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 firm's revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.76 EPS. Equities research analysts forecast that Standex International Corporation will post 7.9 EPS for the current year.

Standex International Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 0.6%. Standex International's payout ratio is presently 27.59%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SXI shares. Wall Street Zen upgraded shares of Standex International from a "hold" rating to a "buy" rating in a report on Friday, September 26th. Barrington Research restated an "outperform" rating and issued a $220.00 price target on shares of Standex International in a report on Tuesday, July 29th. DA Davidson lifted their target price on shares of Standex International from $200.00 to $219.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Finally, Roth Capital reiterated a "buy" rating and issued a $205.00 target price (up from $175.00) on shares of Standex International in a research note on Monday, August 4th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Standex International currently has an average 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.

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