Northern Trust Corp Acquires 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 increased its stake in shares of Standex International Corporation (NYSE:SXI - Free Report) by 2.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,316 shares of the industrial products company's stock after purchasing an additional 4,389 shares during the period. Northern Trust Corp owned 1.73% of Standex International worth $33,782,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC boosted its stake in shares of Standex International by 965.0% during the first 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 during the last quarter. Whittier Trust Co. raised its stake in Standex International by 46.3% in the 1st 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 during the last quarter. TD Private Client Wealth LLC lifted its holdings in Standex International by 29.9% in the 1st quarter. TD Private Client Wealth LLC now owns 330 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 76 shares in the last quarter. Versant Capital Management Inc boosted its stake 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 grew its holdings in shares of Standex International by 25.2% during the first quarter. Fifth Third Bancorp now owns 780 shares of the industrial products company's stock worth $126,000 after buying an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 90.35% of the company's stock.

Insider Transactions at Standex International

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

Standex International Stock Performance

SXI stock traded up $6.55 during trading on Thursday, reaching $206.04. 98,782 shares of the company's stock were exchanged, compared to its average volume of 109,351. The firm has a market cap of $2.49 billion, a PE ratio of 44.41, a P/E/G ratio of 2.54 and a beta of 1.12. The company has a quick ratio of 2.10, a current ratio of 2.88 and a debt-to-equity ratio of 0.78. Standex International Corporation has a 1-year low of $128.85 and a 1-year high of $212.65. The company's fifty day moving average price is $181.45 and its 200-day moving average price is $166.33.

Standex International (NYSE:SXI - Get Free Report) last issued its quarterly 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. Standex International had a net margin of 7.06% and a return on equity of 13.92%. The company had revenue of $222.05 million during the quarter, compared to analyst estimates of $214.44 million. During the same period in the prior year, the business posted $1.76 EPS. The business's revenue for the quarter was up 23.2% compared to the same quarter last year. On average, research analysts expect that Standex International Corporation will post 7.9 EPS for the current fiscal year.

Standex International Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, August 8th. Standex International's payout ratio is presently 27.59%.

Analysts Set New Price Targets

A number of research analysts have recently commented on SXI shares. Wall Street Zen downgraded shares of Standex International from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Roth Capital reiterated 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 price objective on shares of Standex International in a research report on Tuesday, July 29th. Finally, DA Davidson increased their price objective on shares of Standex International from $200.00 to $219.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Standex International has a consensus 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.