Silvercrest Asset Management Group LLC Sells 85,239 Shares of Standex International Co. (NYSE:SXI)

Silvercrest Asset Management Group LLC cut its holdings in Standex International Co. (NYSE:SXI - Free Report) by 17.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 414,222 shares of the industrial products company's stock after selling 85,239 shares during the quarter. Silvercrest Asset Management Group LLC owned about 3.48% of Standex International worth $77,455,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Wasatch Advisors LP boosted its position in Standex International by 14.0% in the fourth quarter. Wasatch Advisors LP now owns 524,446 shares of the industrial products company's stock valued at $98,066,000 after buying an additional 64,373 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Standex International during the 4th quarter worth about $11,296,000. Ameriprise Financial Inc. grew its holdings in Standex International by 15.6% in the fourth quarter. Ameriprise Financial Inc. now owns 346,635 shares of the industrial products company's stock valued at $64,817,000 after purchasing an additional 46,869 shares during the period. Bryn Mawr Capital Management LLC purchased a new stake in Standex International in the 4th quarter worth $8,080,000. Finally, Norges Bank acquired a new position in shares of Standex International during the 4th quarter worth about $7,122,000. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Standex International Stock Down 1.3%

Shares of SXI opened at $154.55 on Friday. The company's 50-day moving average price is $152.95 and its 200 day moving average price is $179.45. Standex International Co. has a 12-month low of $128.85 and a 12-month high of $212.66. The company has a current ratio of 3.37, a quick ratio of 2.61 and a debt-to-equity ratio of 0.81. The firm has a market cap of $1.87 billion, a P/E ratio of 33.74, a price-to-earnings-growth ratio of 2.63 and a beta of 1.08.

Standex International (NYSE:SXI - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.92 by $0.03. Standex International had a net margin of 7.59% and a return on equity of 13.28%. The firm had revenue of $207.78 million for the quarter, compared to analyst estimates of $203.71 million. During the same period in the prior year, the business posted $1.75 EPS. The business's revenue for the quarter was up 17.2% compared to the same quarter last year. On average, sell-side analysts forecast that Standex International Co. will post 7.9 earnings per share for the current year.

Standex International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, May 9th. This represents a $1.28 annualized dividend and a dividend yield of 0.83%. Standex International's dividend payout ratio is currently 25.30%.

Insider Activity

In related news, Director Barbara Joanne Edwards sold 355 shares of the company'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 transaction of $55,426.15. Following the sale, the director now directly owns 5,259 shares of the company's stock, valued at $821,087.67. This represents a 6.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. DA Davidson lowered their target price on Standex International from $207.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Roth Capital upgraded Standex International to a "strong-buy" rating in a report on Wednesday, April 9th. Barrington Research reiterated an "outperform" rating and set a $220.00 price target on shares of Standex International in a report on Friday, May 2nd. William Blair reissued an "outperform" rating on shares of Standex International in a research report on Tuesday, March 11th. Finally, StockNews.com cut shares of Standex International from a "buy" rating to a "hold" rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $223.33.

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.

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