LPL Financial LLC Grows Position in Standex International Corporation $SXI

Key Points

• LPL Financial LLC increased its stake in Standex International Corporation by 92.1% during the first quarter, owning 9,232 shares valued at approximately $1.49 million.
• Standex reported a 23.2% increase in revenue year-over-year, with earnings per share of $2.28, surpassing analyst expectations.
• The company recently declared a quarterly dividend of $0.32 per share, representing an annualized yield of 0.6%.

LPL Financial LLC lifted its holdings in shares of Standex International Corporation (NYSE:SXI - Free Report) by 92.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,232 shares of the industrial products company's stock after buying an additional 4,425 shares during the period. LPL Financial LLC owned about 0.08% of Standex International worth $1,490,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

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

Insider Activity

In other Standex International news, Director Thomas J. Hansen sold 2,992 shares of Standex International 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 $1,709,741.40. The trade was a 26.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David A. Dunbar sold 16,000 shares of the business's 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 sale, the chief executive officer directly owned 115,576 shares of the company's stock, valued at $23,115,200. This represents 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.

Standex International Price Performance

Shares of Standex International stock traded down $1.93 during mid-day trading on Thursday, reaching $208.88. 9,293 shares of the stock were exchanged, compared to its average volume of 90,776. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 45.20, a price-to-earnings-growth ratio of 2.68 and a beta of 1.11. The company has a current ratio of 2.88, a quick ratio of 2.10 and a debt-to-equity ratio of 0.78. Standex International Corporation has a fifty-two week low of $128.85 and a fifty-two week high of $212.65. The firm has a 50-day simple moving average of $175.86 and a 200 day simple moving average of $165.79.

Standex International (NYSE:SXI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The industrial products company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.18. The firm had revenue of $222.05 million during the quarter, compared to analysts' expectations of $214.44 million. Standex International had a net margin of 7.06% and a return on equity of 13.92%. The company's quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.76 EPS. On average, sell-side analysts predict that Standex International Corporation will post 7.9 EPS for the current fiscal year.

Standex International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, August 8th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.6%. Standex International's dividend payout ratio (DPR) is presently 27.59%.

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.