Allspring Global Investments Holdings LLC Sells 37,083 Shares of Standex International Co. (NYSE:SXI)

Allspring Global Investments Holdings LLC trimmed its stake in shares of Standex International Co. (NYSE:SXI - Free Report) by 26.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,017 shares of the industrial products company's stock after selling 37,083 shares during the period. Allspring Global Investments Holdings LLC owned about 0.88% of Standex International worth $16,633,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SXI. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Standex International during the fourth quarter valued at $26,000. Pacer Advisors Inc. acquired a new position in Standex International in the 4th quarter worth about $28,000. State of Wyoming acquired a new position in Standex International in the 2nd quarter worth about $28,000. Altshuler Shaham Ltd acquired a new position in Standex International in the 4th quarter worth about $34,000. Finally, Tower Research Capital LLC TRC increased its position in Standex International by 230.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 334 shares of the industrial products company's stock worth $41,000 after purchasing an additional 233 shares during the last quarter. 90.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com lowered Standex International from a "strong-buy" rating to a "buy" rating in a research report on Monday, February 5th. DA Davidson upped their target price on Standex International from $165.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, March 13th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $195.00.

Insider Activity at Standex International

In related news, Director Thomas J. Hansen sold 2,200 shares of the firm's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $161.04, for a total transaction of $354,288.00. Following the completion of the sale, the director now directly owns 11,370 shares of the company's stock, valued at approximately $1,831,024.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Alan J. Glass sold 1,619 shares of Standex International stock in a transaction on Friday, February 9th. The stock was sold at an average price of $152.92, for a total value of $247,577.48. Following the completion of the sale, the vice president now directly owns 19,224 shares of the company's stock, valued at approximately $2,939,734.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas J. Hansen sold 2,200 shares of Standex International stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $161.04, for a total value of $354,288.00. Following the completion of the sale, the director now directly owns 11,370 shares of the company's stock, valued at $1,831,024.80. The disclosure for this sale can be found here. Insiders sold 18,084 shares of company stock valued at $2,980,448 in the last three months. Corporate insiders own 2.63% of the company's stock.

Standex International Stock Performance

Shares of SXI stock traded down $0.71 during mid-day trading on Monday, reaching $170.74. The stock had a trading volume of 46,358 shares, compared to its average volume of 68,480. The firm's 50 day simple moving average is $171.17 and its 200 day simple moving average is $154.32. The company has a quick ratio of 2.58, a current ratio of 3.34 and a debt-to-equity ratio of 0.24. Standex International Co. has a one year low of $117.24 and a one year high of $184.18. The firm has a market cap of $2.03 billion, a PE ratio of 14.69, a P/E/G ratio of 2.63 and a beta of 1.03.

Standex International (NYSE:SXI - Get Free Report) last issued its earnings results on Friday, February 2nd. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. Standex International had a return on equity of 13.63% and a net margin of 18.80%. The business had revenue of $178.40 million during the quarter, compared to analysts' expectations of $180.25 million. During the same period in the prior year, the firm posted $1.74 EPS. Standex International's quarterly revenue was down 5.0% compared to the same quarter last year. On average, analysts forecast that Standex International Co. will post 7.23 EPS for the current year.

Standex International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $1.20 dividend on an annualized basis and a yield of 0.70%. Standex International's dividend payout ratio is 10.33%.

About Standex International

Standex International Corporation, together with subsidiaries, manufactures and sells 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.