Synovus Financial Corp Makes New Investment in Standex International Corporation $SXI

Synovus Financial Corp purchased a new stake in Standex International Corporation (NYSE:SXI) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 5,555 shares of the industrial products company’s stock, valued at approximately $1,177,000.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Consulate Inc. acquired a new position in Standex International during the 3rd quarter valued at about $25,000. AlphaQuest LLC lifted its holdings in 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 during the last quarter. Geneos Wealth Management Inc. grew its position in Standex International by 173.5% in the first quarter. Geneos Wealth Management Inc. now owns 309 shares of the industrial products company’s stock worth $50,000 after buying an additional 196 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Standex International by 20.3% during the second quarter. Nisa Investment Advisors LLC now owns 651 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 110 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in Standex International by 350.0% during the second quarter. Canada Pension Plan Investment Board now owns 900 shares of the industrial products company’s stock valued at $141,000 after buying an additional 700 shares in the last quarter. 90.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Standex International

In other Standex International news, CEO David A. Dunbar sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $255.94, for a total transaction of $3,839,100.00. Following the sale, the chief executive officer directly owned 88,973 shares of the company’s stock, valued at approximately $22,771,749.62. This represents a 14.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vineet Kshirsagar sold 400 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $260.10, for a total value of $104,040.00. Following the sale, the insider owned 4,647 shares in the company, valued at approximately $1,208,684.70. This trade represents a 7.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 15,450 shares of company stock valued at $3,955,633. 2.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SXI has been the topic of several research reports. DA Davidson upped their price objective on shares of Standex International from $272.00 to $298.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Barrington Research reaffirmed an “outperform” rating and set a $260.00 target price on shares of Standex International in a research report on Monday, February 2nd. Wall Street Zen lowered shares of Standex International from a “buy” rating to a “hold” rating in a research report on Sunday, February 1st. Roth Mkm boosted their target price on shares of Standex International from $260.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Standex International in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $281.33.

Standex International Trading Up 0.8%

Standex International stock opened at $257.68 on Friday. Standex International Corporation has a 12 month low of $128.85 and a 12 month high of $270.87. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 57.78 and a beta of 1.13. The business has a 50 day moving average price of $241.16 and a two-hundred day moving average price of $227.97. The company has a quick ratio of 2.10, a current ratio of 2.87 and a debt-to-equity ratio of 0.76.

Standex International (NYSE:SXI) last posted its quarterly earnings results on Friday, January 30th. The industrial products company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.08. The firm had revenue of $221.32 million for the quarter, compared to the consensus estimate of $219.22 million. Standex International had a net margin of 6.20% and a return on equity of 14.29%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.91 earnings per share. As a group, equities analysts forecast that Standex International Corporation will post 7.9 EPS for the current year.

Standex International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, February 13th. Standex International’s dividend payout ratio is currently 30.49%.

Standex International Company Profile

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.