Northern Trust Corp Purchases 4,389 Shares of Standex International Corporation $SXI

Key Points

• Northern Trust Corp increased its stake in Standex International Corporation by 2.1%, owning 1.73% of the company's stock worth approximately $33.78 million after acquiring an additional 4,389 shares in the first quarter.
• Standex International's CEO, David A. Dunbar, sold 16,000 shares for $3.2 million, reducing his ownership by 12.16%, while Director Thomas J. Hansen sold 2,992 shares, decreasing his position by 26.17%.
• Recent analyst ratings for Standex International include an "outperform" rating with a price target of $220.00 from Barrington Research and a raised target of $219.00 from DA Davidson, reflecting positive sentiment towards the stock.

Northern Trust Corp grew its holdings in shares of Standex International Corporation (NYSE:SXI - Free Report) by 2.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 209,316 shares of the industrial products company's stock after acquiring an additional 4,389 shares during the quarter. Northern Trust Corp owned about 1.73% of Standex International worth $33,782,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. increased its holdings in shares of Standex International by 131.1% in the first quarter. Raymond James Financial Inc. now owns 139,589 shares of the industrial products company's stock valued at $22,528,000 after buying an additional 79,181 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Standex International by 13.2% in the first quarter. American Century Companies Inc. now owns 30,312 shares of the industrial products company's stock worth $4,892,000 after buying an additional 3,543 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in shares of Standex International by 7.2% in the first quarter. Kovitz Investment Group Partners LLC now owns 16,731 shares of the industrial products company's stock worth $2,700,000 after buying an additional 1,117 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of Standex International by 25.3% during the first quarter. Public Sector Pension Investment Board now owns 37,770 shares of the industrial products company's stock valued at $6,096,000 after acquiring an additional 7,637 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Standex International in the 1st quarter valued at approximately $4,595,000. Institutional investors and hedge funds own 90.35% of the company's stock.

Insider Activity at Standex International

In other news, Director Thomas J. Hansen sold 2,992 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,709,741.40. This represents a 26.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David A. Dunbar sold 16,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was 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 owned 115,576 shares in the company, valued at approximately $23,115,200. The trade was a 12.16% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Standex International Stock Up 0.3%

Shares of NYSE SXI traded up $0.64 during mid-day trading on Thursday, reaching $200.13. 11,928 shares of the company traded hands, compared to its average volume of 90,914. The company's fifty day moving average is $180.47 and its two-hundred day moving average is $166.21. Standex International Corporation has a fifty-two week low of $128.85 and a fifty-two week 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 stock has a market cap of $2.42 billion, a PE ratio of 43.23, a price-to-earnings-growth ratio of 2.60 and a beta of 1.12.

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

Standex International Dividend Announcement

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

Analysts Set New Price Targets

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