Martingale Asset Management L P Reduces Position in Standex International Co. (NYSE:SXI)

Martingale Asset Management L P trimmed its holdings in shares of Standex International Co. (NYSE:SXI) by 34.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,405 shares of the industrial products company’s stock after selling 3,301 shares during the quarter. Martingale Asset Management L P owned 0.05% of Standex International worth $1,171,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of SXI. Copeland Capital Management LLC grew its stake in Standex International by 0.8% in the third quarter. Copeland Capital Management LLC now owns 556,244 shares of the industrial products company’s stock worth $101,670,000 after purchasing an additional 4,281 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Standex International by 0.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 254,841 shares of the industrial products company’s stock worth $41,068,000 after purchasing an additional 771 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Standex International by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 143,883 shares of the industrial products company’s stock valued at $26,299,000 after acquiring an additional 3,844 shares during the period. Leeward Investments LLC MA boosted its stake in Standex International by 5.6% in the second quarter. Leeward Investments LLC MA now owns 132,054 shares of the industrial products company’s stock valued at $21,281,000 after acquiring an additional 7,020 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in Standex International by 4.1% in the third quarter. Handelsbanken Fonder AB now owns 127,700 shares of the industrial products company’s stock valued at $23,341,000 after acquiring an additional 5,000 shares during the period. 90.35% of the stock is owned by hedge funds and other institutional investors.

Standex International Stock Performance

SXI opened at $207.89 on Monday. The business’s 50 day moving average is $189.19 and its 200-day moving average is $176.97. The stock has a market cap of $2.51 billion, a PE ratio of 34.08, a price-to-earnings-growth ratio of 2.95 and a beta of 1.03. The company has a current ratio of 3.55, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. Standex International Co. has a twelve month low of $131.96 and a twelve month high of $212.65.

Standex International (NYSE:SXI) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.66 by $0.05. Standex International had a return on equity of 13.18% and a net margin of 10.26%. The firm had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $178.94 million. During the same quarter in the previous year, the company earned $1.74 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, analysts predict that Standex International Co. will post 7.84 earnings per share for the current year.

Standex International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.32 per share. This is a boost from Standex International’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.28 annualized dividend and a yield of 0.62%. Standex International’s payout ratio is presently 20.98%.

Insider Buying and Selling at Standex International

In other Standex International news, CFO Ademir Sarcevic sold 1,600 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $199.81, for a total value of $319,696.00. Following the transaction, the chief financial officer now owns 18,086 shares of the company’s stock, valued at approximately $3,613,763.66. This represents a 8.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas J. Hansen sold 1,661 shares of Standex International stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.41, for a total transaction of $349,491.01. Following the transaction, the director now owns 11,431 shares in the company, valued at approximately $2,405,196.71. The trade was a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,061 shares of company stock valued at $1,359,419. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on SXI shares. Barrington Research restated an “outperform” rating and issued a $220.00 target price on shares of Standex International in a research note on Wednesday, October 30th. DA Davidson lifted their target price on Standex International from $203.00 to $211.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Benchmark lifted their price target on Standex International from $210.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised Standex International from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th.

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.