Wilmington Savings Fund Society FSB Trims Holdings in Standex International Corporation $SXI

Key Points

• Wilmington Savings Fund Society FSB reduced its stake in Standex International Corporation by 3.4%, now holding 54,406 shares valued at approximately $8.5 million.
• CEO David A. Dunbar sold 11,000 shares for $2.37 million, reducing his ownership by 8.27%, while insider sales totaled $6.17 million in the last three months.
• Standex International's stock has a consensus rating of "Moderate Buy" from analysts, with a target price averaging $223.50, following a strong earnings report beating estimates.

Wilmington Savings Fund Society FSB trimmed its position in Standex International Corporation (NYSE:SXI - Free Report) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,406 shares of the industrial products company's stock after selling 1,944 shares during the period. Wilmington Savings Fund Society FSB owned about 0.45% of Standex International worth $8,513,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. lifted its holdings in shares of Standex International by 46.3% during the 1st quarter. Whittier Trust Co. now owns 218 shares of the industrial products company's stock worth $35,000 after acquiring an additional 69 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Standex International by 173.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 309 shares of the industrial products company's stock worth $50,000 after acquiring an additional 196 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of Standex International by 29.9% during the 1st quarter. TD Private Client Wealth LLC now owns 330 shares of the industrial products company's stock worth $53,000 after acquiring an additional 76 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Standex International by 25.2% during the 1st quarter. Fifth Third Bancorp now owns 780 shares of the industrial products company's stock worth $126,000 after acquiring an additional 157 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Standex International by 74.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 890 shares of the industrial products company's stock worth $143,000 after purchasing an additional 380 shares in the last quarter. 90.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO David A. Dunbar sold 11,000 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $215.00, for a total transaction of $2,365,000.00. Following the completion of the sale, the chief executive officer owned 121,973 shares of the company's stock, valued at approximately $26,224,195. This trade represents a 8.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas J. Hansen sold 2,992 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $1,709,741.40. The trade was a 26.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,992 shares of company stock valued at $6,171,179 in the last three months. Corporate insiders own 2.52% of the company's stock.

Wall Street Analysts Forecast Growth

SXI has been the subject of a number of research analyst reports. Roth Capital reissued a "buy" rating and set a $205.00 target price (up previously from $175.00) on shares of Standex International in a research report on Monday, August 4th. DA Davidson increased their target price 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. Wall Street Zen downgraded shares of Standex International from a "buy" rating to a "hold" rating in a research report on Saturday, October 4th. Weiss Ratings reissued a "hold (c)" rating on shares of Standex International in a research report on Wednesday, October 8th. Finally, Barrington Research reissued an "outperform" rating and set a $220.00 target price on shares of Standex International in a research report on Tuesday, July 29th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Standex International presently has a consensus rating of "Moderate Buy" and a consensus price target of $223.50.

Standex International Stock Up 4.2%

Shares of NYSE:SXI opened at $226.25 on Tuesday. 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 52-week low of $128.85 and a 52-week high of $228.71. The company has a 50 day moving average of $206.26 and a two-hundred day moving average of $172.00. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 48.76, a price-to-earnings-growth ratio of 2.77 and a beta of 1.15.

Standex International (NYSE:SXI - Get Free Report) last released 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 business had revenue of $222.05 million during the quarter, compared to the consensus estimate of $214.44 million. During the same quarter last year, the company earned $1.76 earnings per share. The business's quarterly revenue was up 23.2% compared to the same quarter last year. As a group, analysts forecast that Standex International Corporation will post 7.9 earnings per share for the current fiscal year.

Standex International Dividend Announcement

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

About Standex International

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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