Handelsbanken Fonder AB Acquires 15,600 Shares of Standex International Co. (NYSE:SXI)

Handelsbanken Fonder AB increased its stake in Standex International Co. (NYSE:SXI - Free Report) by 12.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,500 shares of the industrial products company's stock after purchasing an additional 15,600 shares during the quarter. Handelsbanken Fonder AB owned 1.21% of Standex International worth $23,159,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System grew its holdings in shares of Standex International by 1.6% in the fourth quarter. Maryland State Retirement & Pension System now owns 4,069 shares of the industrial products company's stock worth $761,000 after acquiring an additional 66 shares during the period. Versant Capital Management Inc grew its stake in shares of Standex International by 25.9% during the 1st quarter. Versant Capital Management Inc now owns 379 shares of the industrial products company's stock valued at $61,000 after purchasing an additional 78 shares during the period. Moody National Bank Trust Division increased its position in shares of Standex International by 6.8% during the 1st quarter. Moody National Bank Trust Division now owns 1,415 shares of the industrial products company's stock valued at $228,000 after purchasing an additional 90 shares during the last quarter. Keeley Teton Advisors LLC lifted its stake in shares of Standex International by 3.4% in the 4th quarter. Keeley Teton Advisors LLC now owns 3,022 shares of the industrial products company's stock worth $565,000 after purchasing an additional 99 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in Standex International by 3.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,886 shares of the industrial products company's stock valued at $540,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 90.35% of the company's stock.

Insider Activity at Standex International

In related news, Director Barbara Joanne Edwards sold 355 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $156.13, for a total value of $55,426.15. Following the transaction, the director now owns 5,259 shares of the company's stock, valued at $821,087.67. This trade represents a 6.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SXI. DA Davidson dropped their price target on shares of Standex International from $207.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Barrington Research restated an "outperform" rating and set a $220.00 target price on shares of Standex International in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of Standex International from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. William Blair restated an "outperform" rating on shares of Standex International in a research report on Tuesday, March 11th. Finally, Roth Capital upgraded Standex International to a "strong-buy" rating in a research report on Wednesday, April 9th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $223.33.

Standex International Price Performance

Shares of NYSE:SXI traded up $0.33 during mid-day trading on Thursday, reaching $154.69. The stock had a trading volume of 26,302 shares, compared to its average volume of 58,146. The business's 50 day moving average price is $147.26 and its 200 day moving average price is $173.42. Standex International Co. has a 1 year low of $128.85 and a 1 year high of $212.66. The company has a market cap of $1.87 billion, a P/E ratio of 33.78, a price-to-earnings-growth ratio of 2.63 and a beta of 1.07. The company has a current ratio of 3.37, a quick ratio of 2.61 and a debt-to-equity ratio of 0.81.

Standex International (NYSE:SXI - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.92 by $0.03. The company had revenue of $207.78 million during the quarter, compared to analyst estimates of $203.71 million. Standex International had a return on equity of 13.28% and a net margin of 7.59%. The firm's revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the business posted $1.75 earnings per share. Research analysts expect that Standex International Co. will post 7.9 EPS for the current fiscal year.

Standex International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a dividend of $0.32 per share. The ex-dividend date was Friday, May 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.83%. Standex International's dividend payout ratio is presently 25.30%.

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.