Voya Investment Management LLC Increases Stock Position in Standex International Corporation $SXI

Key Points

• Voya Investment Management LLC significantly increased its stake in Standex International Corporation by 1,619.8%, acquiring an additional 123,251 shares, bringing its total holdings to 130,860 shares valued at approximately $21.1 million.
• Standex International's CEO, David A. Dunbar, sold 16,000 shares for $3.2 million, resulting in a 12.16% decrease in his ownership, while Director Thomas J. Hansen also sold shares, reflecting insider activity amidst stock fluctuations.
• The company recently declared a quarterly dividend of $0.32 per share, translating to an annualized dividend of $1.28 with a yield of 0.6%, and has a projected earnings per share of 7.9 for the current year.

Voya Investment Management LLC raised its holdings in shares of Standex International Corporation (NYSE:SXI - Free Report) by 1,619.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 130,860 shares of the industrial products company's stock after purchasing an additional 123,251 shares during the period. Voya Investment Management LLC owned 1.08% of Standex International worth $21,119,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SXI. First Hawaiian Bank grew its position in shares of Standex International by 23.3% in the 1st quarter. First Hawaiian Bank now owns 3,089 shares of the industrial products company's stock worth $499,000 after buying an additional 583 shares during the last quarter. Inspire Investing LLC grew its position in shares of Standex International by 4.1% in the 1st quarter. Inspire Investing LLC now owns 2,485 shares of the industrial products company's stock worth $401,000 after buying an additional 98 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Standex International by 173.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 309 shares of the industrial products company's stock worth $50,000 after buying an additional 196 shares during the last quarter. Jane Street Group LLC grew its position in shares of Standex International by 902.1% in the 1st quarter. Jane Street Group LLC now owns 36,676 shares of the industrial products company's stock worth $5,919,000 after buying an additional 33,016 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Standex International by 3.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 40,112 shares of the industrial products company's stock worth $6,474,000 after buying an additional 1,509 shares during the last quarter. Hedge funds and other institutional investors own 90.35% of the company's stock.

Insider Buying and Selling at Standex International

In related news, CEO David A. Dunbar sold 16,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $200.00, for a total transaction of $3,200,000.00. Following the sale, the chief executive officer directly owned 115,576 shares of the company's stock, valued at approximately $23,115,200. This represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas J. Hansen sold 2,992 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $202.60, for a total transaction of $606,179.20. Following the sale, the director directly owned 8,439 shares in the company, valued at $1,709,741.40. This trade represents a 26.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,992 shares of company stock valued at $6,171,179. 2.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SXI. DA Davidson lifted their price objective on shares of Standex International from $200.00 to $219.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Barrington Research restated an "outperform" rating and set a $220.00 price target on shares of Standex International in a research note on Tuesday, July 29th. Wall Street Zen cut shares of Standex International from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Roth Capital reaffirmed a "buy" rating and issued a $205.00 price target (up previously from $175.00) on shares of Standex International in a report on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $223.50.

Standex International Stock Performance

Shares of NYSE:SXI traded down $8.65 during midday trading on Friday, reaching $206.02. The company's stock had a trading volume of 219,291 shares, compared to its average volume of 86,315. The company has a quick ratio of 2.10, a current ratio of 2.88 and a debt-to-equity ratio of 0.78. The stock has a fifty day moving average of $190.79 and a 200 day moving average of $167.87. Standex International Corporation has a twelve month low of $128.85 and a twelve month high of $215.77. The firm has a market capitalization of $2.49 billion, a PE ratio of 44.40, a P/E/G ratio of 2.74 and a beta of 1.12.

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

Standex International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, August 8th. Standex International's dividend payout ratio (DPR) is 27.59%.

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.