Handelsbanken Fonder AB Sells 22,500 Shares of Standex International Corporation $SXI

Handelsbanken Fonder AB decreased its stake in Standex International Corporation (NYSE:SXI) by 13.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 145,000 shares of the industrial products company’s stock after selling 22,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Standex International were worth $31,506,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cornerstone Planning Group LLC grew its holdings in shares of Standex International by 144.7% in the 4th quarter. Cornerstone Planning Group LLC now owns 115 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 68 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Standex International in the 3rd quarter valued at about $28,000. AlphaQuest LLC grew its holdings in shares of Standex International by 72.8% in the 3rd quarter. AlphaQuest LLC now owns 197 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 83 shares in the last quarter. Financial Consulate Inc. grew its holdings in shares of Standex International by 84.7% in the 4th quarter. Financial Consulate Inc. now owns 218 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 100 shares in the last quarter. Finally, Huntington National Bank grew its holdings in shares of Standex International by 52.6% in the 3rd quarter. Huntington National Bank now owns 238 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 82 shares in the last quarter. Institutional investors own 90.35% of the company’s stock.

Standex International Trading Down 2.6%

Shares of SXI stock opened at $244.63 on Wednesday. The firm has a 50 day moving average price of $261.82 and a two-hundred day moving average price of $248.45. The company has a quick ratio of 2.23, a current ratio of 3.05 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $2.96 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 3.25 and a beta of 1.09. Standex International Corporation has a 12-month low of $144.62 and a 12-month high of $284.71.

Standex International (NYSE:SXI) last issued its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.01). The company had revenue of $224.60 million for the quarter, compared to analyst estimates of $225.16 million. Standex International had a return on equity of 14.38% and a net margin of 11.18%.The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business earned $1.95 earnings per share. As a group, analysts predict that Standex International Corporation will post 8.59 earnings per share for the current year.

Standex International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 8th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, May 8th. This represents a $1.36 annualized dividend and a yield of 0.6%. Standex International’s dividend payout ratio (DPR) is 16.57%.

Wall Street Analysts Forecast Growth

SXI has been the subject of several analyst reports. Roth Mkm raised their price objective on Standex International from $260.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. Weiss Ratings upgraded Standex International from a “hold (c)” rating to a “buy (b)” rating in a report on Thursday, May 7th. Wall Street Zen cut Standex International from a “buy” rating to a “hold” rating in a report on Sunday, February 1st. Barrington Research reiterated an “outperform” rating and issued a $260.00 target price on shares of Standex International in a research note on Monday, March 9th. Finally, Zacks Research downgraded shares of Standex International from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $289.67.

Insider Transactions at Standex International

In other Standex International news, Director Thomas E. Chorman sold 513 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $260.00, for a total transaction of $133,380.00. Following the completion of the sale, the director directly owned 12,666 shares in the company, valued at $3,293,160. This trade represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 613 shares of company stock worth $159,227 in the last three months. Company insiders own 2.52% of the company’s stock.

About Standex International

Standex International Corporation is a diversified global manufacturer specializing in food service equipment, engineered components, and industrial products. Operating across multiple markets, the company designs and produces commercial cooking and warming solutions, precision-engraved nameplates and decorative products, fluid power hydraulics, and magnetics-based electronics. These offerings serve a broad array of end markets, including quick-service restaurants, automotive, aerospace, medical devices, and consumer appliances.

With business organized into key segments—Food Service Equipment, Engraving & Decorating, Hydraulics, Industrial Electronics, and Technical Graphical Solutions—Standex delivers a combination of proprietary technology, automated manufacturing processes, and custom engineering services.