Raymond James Financial Inc. Has $22.53 Million Stake in Standex International Corporation $SXI

Key Points

• Raymond James Financial Inc. increased its stake in Standex International Corporation by 131.1%, acquiring 79,181 shares during the 1st quarter, bringing its total ownership to approximately $22.5 million.
• Several other institutional investors have also significantly increased their positions in Standex International, which now has 90.35% of its stock owned by institutional investors.
• Standex International reported a 23.2% increase in revenue year-over-year, with earnings per share of $2.28, exceeding analysts' expectations of $2.10.

Raymond James Financial Inc. increased its position in Standex International Corporation (NYSE:SXI - Free Report) by 131.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,589 shares of the industrial products company's stock after purchasing an additional 79,181 shares during the quarter. Raymond James Financial Inc. owned approximately 1.16% of Standex International worth $22,528,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC grew its position in shares of Standex International by 965.0% during the 1st quarter. Whipplewood Advisors LLC now owns 213 shares of the industrial products company's stock worth $34,000 after buying an additional 193 shares during the period. Whittier Trust Co. grew its position in shares of Standex International by 46.3% during the 1st quarter. Whittier Trust Co. now owns 218 shares of the industrial products company's stock worth $35,000 after buying an additional 69 shares during the period. TD Private Client Wealth LLC grew its position in shares of Standex International by 29.9% during the 1st quarter. TD Private Client Wealth LLC now owns 330 shares of the industrial products company's stock worth $53,000 after buying an additional 76 shares during the period. Versant Capital Management Inc grew its position 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 worth $61,000 after buying an additional 78 shares during the period. Finally, Fifth Third Bancorp grew its position in shares of Standex International by 25.2% during the 1st quarter. Fifth Third Bancorp now owns 780 shares of the industrial products company's stock worth $126,000 after buying an additional 157 shares during the period. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Standex International

In other Standex International news, Director Thomas J. Hansen sold 2,992 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $202.60, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David A. Dunbar sold 16,000 shares of Standex International stock in a transaction dated 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 sale, the chief executive officer directly owned 115,576 shares in the company, valued at $23,115,200. This represents a 12.16% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Standex International Trading Down 2.8%

NYSE:SXI traded down $5.88 on Friday, reaching $204.16. The company's stock had a trading volume of 139,283 shares, compared to its average volume of 126,769. Standex International Corporation has a 1-year low of $128.85 and a 1-year high of $212.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.10 and a current ratio of 2.88. The firm has a market cap of $2.46 billion, a PE ratio of 44.00, a PEG ratio of 2.60 and a beta of 1.12. The business's 50-day moving average price is $177.87 and its two-hundred day moving average price is $165.61.

Standex International (NYSE:SXI - Get Free Report) last posted 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 return on equity of 13.92% and a net margin of 7.06%.The firm had revenue of $222.05 million during the quarter, compared to analysts' expectations of $214.44 million. During the same period in the previous year, the firm earned $1.76 earnings per share. The company's revenue was up 23.2% on a year-over-year basis. Equities research analysts anticipate that Standex International Corporation will post 7.9 earnings per share for the current fiscal year.

Standex International Dividend Announcement

The firm also recently announced 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 yield of 0.6%. The ex-dividend date of this dividend was Friday, August 8th. Standex International's payout ratio is presently 27.59%.

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.