LPL Financial LLC Grows Holdings 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 Standex International Corporation (NYSE:SXI - Free Report) by 92.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,232 shares of the industrial products company's stock after purchasing an additional 4,425 shares during the period. LPL Financial LLC owned approximately 0.08% of Standex International worth $1,490,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Assetmark Inc. grew its holdings in shares of Standex International by 8.4% in the first quarter. Assetmark Inc. now owns 10,800 shares of the industrial products company's stock valued at $1,743,000 after purchasing an additional 841 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Standex International by 7.4% in the first quarter. Cetera Investment Advisers now owns 4,176 shares of the industrial products company's stock valued at $674,000 after purchasing an additional 289 shares in the last quarter. Wakefield Asset Management LLLP grew its holdings in shares of Standex International by 8.5% in the first quarter. Wakefield Asset Management LLLP now owns 5,850 shares of the industrial products company's stock valued at $944,000 after purchasing an additional 458 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Standex International in the first quarter valued at approximately $445,000. Finally, Whittier Trust Co. grew its holdings in shares of Standex International by 46.3% in the first quarter. Whittier Trust Co. now owns 218 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 90.35% of the company's stock.

Insider Buying and Selling at Standex International

In other news, CEO David A. Dunbar sold 16,000 shares of the company'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 owned 115,576 shares in the company, valued at approximately $23,115,200. This represents a 12.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas J. Hansen sold 2,992 shares of the company'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 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 position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company's stock.

Standex International Stock Down 0.4%

Shares of Standex International stock traded down $0.82 during trading hours on Thursday, hitting $209.99. The company had a trading volume of 71,398 shares, compared to its average volume of 137,544. The company's 50-day moving average is $176.92 and its two-hundred day moving average is $165.88. Standex International Corporation has a twelve month low of $128.85 and a twelve month high of $212.65. 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 company has a market cap of $2.53 billion, a P/E ratio of 45.26, a price-to-earnings-growth ratio of 2.69 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 the consensus estimate 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 during the quarter, compared to analysts' expectations of $214.44 million. During the same quarter in the prior year, the business posted $1.76 EPS. The company's revenue for the quarter was up 23.2% on a year-over-year basis. Analysts anticipate that Standex International Corporation will post 7.9 earnings per share for the current fiscal year.

Standex International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.32 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.28 annualized dividend and a dividend yield of 0.6%. Standex International's dividend payout ratio is presently 27.59%.

Analysts Set New Price Targets

SXI has been the subject of a number of research reports. Barrington Research restated an "outperform" rating and issued a $220.00 price objective on shares of Standex International in a report on Tuesday, July 29th. Wall Street Zen cut shares of Standex International from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. DA Davidson boosted their price target on shares of Standex International from $200.00 to $219.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Finally, Roth Capital reiterated a "buy" rating and set a $205.00 price target (up previously from $175.00) on shares of Standex International in a report on Monday, August 4th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price 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.