Raymond James Financial Inc. Purchases 79,181 Shares of 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. raised its position in Standex International Corporation (NYSE:SXI - Free Report) by 131.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 139,589 shares of the industrial products company's stock after acquiring an additional 79,181 shares during the period. Raymond James Financial Inc. owned about 1.16% of Standex International worth $22,528,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of SXI. Whipplewood Advisors LLC lifted its stake in 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 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 purchasing an additional 69 shares during the last quarter. TD Private Client Wealth LLC increased 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 purchasing an additional 76 shares during the last quarter. Versant Capital Management Inc increased 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 purchasing an additional 78 shares during the last quarter. Finally, Fifth Third Bancorp increased 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 purchasing an additional 157 shares during the last quarter. Institutional investors own 90.35% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Standex International

In related news, Director Thomas J. Hansen sold 2,992 shares of the business's stock in a transaction on 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 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 document filed with the SEC, which is available through the SEC website. Also, CEO David A. Dunbar sold 16,000 shares of the business'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 sale, the chief executive officer owned 115,576 shares of the company's stock, valued at $23,115,200. This trade represents a 12.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

Standex International Stock Down 0.4%

SXI stock opened at $209.5640 on Tuesday. The company has a current ratio of 2.88, a quick ratio of 2.10 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $2.53 billion, a PE ratio of 45.16, a PEG ratio of 2.68 and a beta of 1.11. Standex International Corporation has a 1-year low of $128.85 and a 1-year high of $212.65. The business's 50 day simple moving average is $173.63 and its 200 day simple moving average is $165.16.

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 for the quarter, topping analysts' consensus estimates of $2.10 by $0.18. The business had revenue of $222.05 million for the quarter, compared to analyst estimates of $214.44 million. Standex International had a return on equity of 13.92% and a net margin of 7.06%.The firm's revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.76 EPS. As a group, research analysts anticipate that Standex International Corporation will post 7.9 EPS for the current year.

Standex International Dividend Announcement

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

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