Invesco Ltd. Buys 17,139 Shares of Standex International Corporation $SXI

Key Points

• Invesco Ltd. increased its stake in Standex International Corporation by 30.2% during the first quarter, owning approximately 0.61% of the company valued at $11.93 million.
• Standex International reported earnings of $2.28 per share, exceeding estimates, along with a revenue increase of 23.2% year-over-year.
• The company announced a quarterly dividend of $0.32 per share, with an annualized yield of 0.6%, reflecting a payout ratio of 27.59%.

Invesco Ltd. increased its position in Standex International Corporation (NYSE:SXI - Free Report) by 30.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,944 shares of the industrial products company's stock after purchasing an additional 17,139 shares during the period. Invesco Ltd. owned 0.61% of Standex International worth $11,934,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in shares of Standex International by 34.4% during the fourth quarter. Wells Fargo & Company MN now owns 6,817 shares of the industrial products company's stock valued at $1,275,000 after acquiring an additional 1,744 shares in the last quarter. Barclays PLC increased its holdings in Standex International by 24.1% in the 4th quarter. Barclays PLC now owns 28,241 shares of the industrial products company's stock worth $5,281,000 after buying an additional 5,489 shares in the last quarter. XTX Topco Ltd purchased a new position in Standex International in the 4th quarter worth about $275,000. CANADA LIFE ASSURANCE Co lifted its stake in Standex International by 2.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 13,092 shares of the industrial products company's stock valued at $2,443,000 after acquiring an additional 286 shares during the period. Finally, First Trust Advisors LP lifted its stake in Standex International by 16.8% during the 4th quarter. First Trust Advisors LP now owns 11,614 shares of the industrial products company's stock valued at $2,172,000 after acquiring an additional 1,673 shares during the period. Hedge funds and other institutional investors own 90.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barrington Research restated an "outperform" rating and issued a $220.00 price target on shares of Standex International in a research note on Tuesday, July 29th. Roth Capital reissued a "buy" rating and issued a $205.00 target price (up from $175.00) on shares of Standex International in a research report on Monday, August 4th. DA Davidson upped their price target on shares of Standex International from $200.00 to $219.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Finally, Wall Street Zen cut shares of Standex International from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $223.50.

Standex International Price Performance

Standex International stock traded down $1.85 during midday trading on Thursday, reaching $208.97. 36,249 shares of the stock traded hands, compared to its average volume of 90,950. The stock has a market cap of $2.52 billion, a P/E ratio of 45.04, a PEG ratio of 2.68 and a beta of 1.11. The stock's fifty day moving average is $175.86 and its 200-day moving average is $165.79. The company has a quick ratio of 2.10, a current ratio of 2.88 and a debt-to-equity ratio of 0.78. Standex International Corporation has a 12 month low of $128.85 and a 12 month high of $212.65.

Standex International (NYSE:SXI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.18. Standex International had a return on equity of 13.92% and a net margin of 7.06%.The business had revenue of $222.05 million for the quarter, compared to analysts' expectations of $214.44 million. During the same period in the prior year, the firm earned $1.76 EPS. The company's revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities research analysts anticipate 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. Shareholders of record on Friday, August 8th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, August 8th. Standex International's dividend payout ratio (DPR) is presently 27.59%.

Insider Transactions at Standex International

In other news, Director Thomas J. Hansen sold 2,992 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $202.60, for a total value of $606,179.20. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David A. Dunbar sold 16,000 shares of the stock in a transaction dated 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 completion of the transaction, 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.

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.