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. grew its position in Standex International Corporation (NYSE:SXI - Free Report) by 30.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,944 shares of the industrial products company's stock after purchasing an additional 17,139 shares during the quarter. Invesco Ltd. owned approximately 0.61% of Standex International worth $11,934,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of SXI. Whipplewood Advisors LLC increased its stake in shares of Standex International by 965.0% in the 1st quarter. Whipplewood Advisors LLC now owns 213 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 193 shares in the last quarter. Whittier Trust Co. increased its stake in shares of Standex International by 46.3% in the 1st quarter. Whittier Trust Co. now owns 218 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 69 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of Standex International by 29.9% in the 1st quarter. TD Private Client Wealth LLC now owns 330 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 76 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Standex International by 25.9% in the 1st quarter. Versant Capital Management Inc now owns 379 shares of the industrial products company's stock valued at $61,000 after acquiring an additional 78 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Standex International by 25.2% in the 1st quarter. Fifth Third Bancorp now owns 780 shares of the industrial products company's stock valued at $126,000 after acquiring an additional 157 shares in the last quarter. Institutional investors own 90.35% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SXI. Roth Capital reiterated a "buy" rating and issued a $205.00 price objective (up previously from $175.00) on shares of Standex International in a research note on Monday, August 4th. DA Davidson increased their target price on Standex International from $200.00 to $219.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Wall Street Zen cut Standex International from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Barrington Research reiterated an "outperform" rating and issued a $220.00 target price on shares of Standex International in a report on Tuesday, July 29th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $223.50.

Insider Buying and Selling at Standex International

In other Standex International news, CEO David A. Dunbar sold 16,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 115,576 shares of the company's stock, valued at $23,115,200. This trade represents a 12.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Hansen sold 2,992 shares of the firm'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 transaction, the director directly owned 8,439 shares of the company's stock, valued at approximately $1,709,741.40. The trade was a 26.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Standex International Stock Performance

SXI stock traded down $5.88 during midday trading on Friday, reaching $204.16. 139,283 shares of the company's stock traded hands, compared to its average volume of 134,829. The company has a 50-day moving average price of $177.87 and a two-hundred day moving average price of $165.95. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.10 and a current ratio of 2.88. Standex International Corporation has a 52 week low of $128.85 and a 52 week high of $212.65. The firm has a market capitalization of $2.46 billion, a PE ratio of 44.00, a price-to-earnings-growth ratio of 2.68 and a beta of 1.11.

Standex International (NYSE:SXI - Get Free Report) last issued its earnings results on Thursday, July 31st. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.10 by $0.18. Standex International had a net margin of 7.06% and a return on equity of 13.92%. The business had revenue of $222.05 million for the quarter, compared to analysts' expectations of $214.44 million. During the same quarter in the previous year, the firm posted $1.76 EPS. The business's revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities analysts anticipate that Standex International Corporation will post 7.9 EPS for the current year.

Standex International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a 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%.

Standex International 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.