Victory Capital Management Inc. Sells 10,765 Shares of Standex International Corporation (NYSE:SXI)

Key Points

• Victory Capital Management Inc. reduced its holdings in Standex International Corporation by 24.4%, selling 10,765 shares during the first quarter, resulting in ownership of 33,377 shares valued at approximately $5.39 million.
• Wall Street analysts have given Standex International a consensus rating of "Buy" and a target price of $223.33, with five analysts rating it as a buy and one as a strong buy.
• Standex International recently announced a quarterly dividend of $0.32, which will be paid on August 22nd, representing a 0.77% yield and a 25.30% dividend payout ratio.

Victory Capital Management Inc. decreased its holdings in Standex International Corporation (NYSE:SXI - Free Report) by 24.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,377 shares of the industrial products company's stock after selling 10,765 shares during the quarter. Victory Capital Management Inc. owned 0.28% of Standex International worth $5,387,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Standex International by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 1,418,703 shares of the industrial products company's stock valued at $265,283,000 after acquiring an additional 15,518 shares in the last quarter. Champlain Investment Partners LLC lifted its position in Standex International by 2.1% in the 4th quarter. Champlain Investment Partners LLC now owns 584,430 shares of the industrial products company's stock valued at $109,283,000 after acquiring an additional 11,774 shares in the last quarter. Wasatch Advisors LP lifted its position in Standex International by 14.0% in the 4th quarter. Wasatch Advisors LP now owns 524,446 shares of the industrial products company's stock valued at $98,066,000 after acquiring an additional 64,373 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Standex International by 15.6% in the 4th quarter. Ameriprise Financial Inc. now owns 346,635 shares of the industrial products company's stock valued at $64,817,000 after acquiring an additional 46,869 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Standex International by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 317,140 shares of the industrial products company's stock valued at $59,314,000 after acquiring an additional 8,923 shares in the last quarter. Institutional investors own 90.35% of the company's stock.

Wall Street Analysts Forecast Growth

SXI has been the subject of several analyst reports. Wall Street Zen upgraded shares of Standex International from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Roth Capital upgraded shares of Standex International to a "strong-buy" rating in a research note on Wednesday, April 9th. DA Davidson decreased 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 note on Tuesday, May 6th. Finally, Barrington Research restated an "outperform" rating and set a $220.00 price target on shares of Standex International in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $223.33.

Insider Buying and Selling

In related news, Director Barbara Joanne Edwards sold 355 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $156.13, for a total value of $55,426.15. Following the completion of the transaction, the director directly owned 5,259 shares of the company's stock, valued at approximately $821,087.67. This trade represents a 6.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.10% of the company's stock.

Standex International Trading Up 1.7%

Shares of SXI stock opened at $165.97 on Friday. The company has a 50 day moving average of $156.96 and a 200-day moving average of $164.74. The company has a quick ratio of 2.56, a current ratio of 3.40 and a debt-to-equity ratio of 0.84. Standex International Corporation has a 12-month low of $128.85 and a 12-month high of $212.65. The firm has a market cap of $2.00 billion, a P/E ratio of 32.80, a PEG ratio of 2.13 and a beta of 1.06.

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

Standex International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, August 8th. Standex International's dividend payout ratio (DPR) is presently 25.30%.

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.

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