Allspring Global Investments Holdings LLC Sells 4,280 Shares of Standex International Corporation (NYSE:SXI)

Allspring Global Investments Holdings LLC trimmed its stake in Standex International Corporation (NYSE:SXI - Free Report) by 11.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 32,662 shares of the industrial products company's stock after selling 4,280 shares during the period. Allspring Global Investments Holdings LLC owned about 0.27% of Standex International worth $5,271,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Standex International by 65.1% during the 4th quarter. JPMorgan Chase & Co. now owns 80,031 shares of the industrial products company's stock worth $14,965,000 after buying an additional 31,560 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Standex International by 183.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 510 shares of the industrial products company's stock valued at $96,000 after buying an additional 330 shares in the last quarter. Cetera Investment Advisers boosted its stake in Standex International by 4.5% during the 4th quarter. Cetera Investment Advisers now owns 3,887 shares of the industrial products company's stock worth $727,000 after purchasing an additional 168 shares during the period. Deutsche Bank AG boosted its stake in Standex International by 46.5% during the 4th quarter. Deutsche Bank AG now owns 10,364 shares of the industrial products company's stock worth $1,938,000 after purchasing an additional 3,289 shares during the period. Finally, First Trust Advisors LP boosted its stake in Standex International by 16.8% during the 4th quarter. First Trust Advisors LP now owns 11,614 shares of the industrial products company's stock worth $2,172,000 after purchasing an additional 1,673 shares during the period. 90.35% of the stock is owned by hedge funds and other institutional investors.

Standex International Trading Up 2.5%

SXI stock traded up $4.11 during midday trading on Tuesday, reaching $167.42. 33,468 shares of the company's stock traded hands, compared to its average volume of 63,751. The company has a market capitalization of $2.02 billion, a P/E ratio of 33.09, a PEG ratio of 2.15 and a beta of 1.06. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.40 and a quick ratio of 2.56. Standex International Corporation has a fifty-two week low of $128.85 and a fifty-two week high of $212.66. The business has a 50-day moving average price of $154.86 and a two-hundred day moving average price of $167.28.

Standex International (NYSE:SXI - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.92 by $0.03. Standex International had a net margin of 8.09% and a return on equity of 13.39%. The business had revenue of $207.78 million for the quarter, compared to analysts' expectations of $203.71 million. During the same period in the previous year, the company posted $1.75 earnings per share. The business's revenue for the quarter was up 17.2% compared to the same quarter last year. Equities research analysts forecast that Standex International Corporation will post 7.9 EPS for the current fiscal year.

Standex International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.28 annualized dividend and a yield of 0.76%. Standex International's payout ratio is 25.30%.

Insider Activity

In related news, Director Barbara Joanne Edwards sold 355 shares of Standex International stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $156.13, for a total transaction of $55,426.15. Following the transaction, the director directly owned 5,259 shares of the company's stock, valued at $821,087.67. The trade was a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.10% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on SXI shares. Barrington Research restated an "outperform" rating and issued a $220.00 target price on shares of Standex International in a research note on Friday, May 2nd. Wall Street Zen raised Standex International from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. DA Davidson cut their price objective on shares of Standex International from $207.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Roth Capital upgraded Standex International to a "strong-buy" rating in a report on Wednesday, April 9th. Finally, William Blair reissued an "outperform" rating on shares of Standex International in a research report on Tuesday, March 11th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Standex International has an average rating of "Buy" and an average target price of $223.33.

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.