Allspring Global Investments Holdings LLC Acquires 207,961 Shares of Standex International Corporation $SXI

Allspring Global Investments Holdings LLC grew its holdings in Standex International Corporation (NYSE:SXI) by 636.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 240,623 shares of the industrial products company’s stock after purchasing an additional 207,961 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.99% of Standex International worth $38,796,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SXI. SG Americas Securities LLC raised its position in shares of Standex International by 53.3% in the first quarter. SG Americas Securities LLC now owns 1,924 shares of the industrial products company’s stock valued at $311,000 after purchasing an additional 669 shares during the period. Fifth Third Bancorp increased its holdings in Standex International by 25.2% during the 1st quarter. Fifth Third Bancorp now owns 780 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 157 shares during the period. Bessemer Group Inc. increased its holdings in Standex International by 5.2% during the 1st quarter. Bessemer Group Inc. now owns 12,246 shares of the industrial products company’s stock worth $1,977,000 after acquiring an additional 602 shares during the period. Diversified Trust Co increased its holdings in Standex International by 6.0% during the 1st quarter. Diversified Trust Co now owns 6,222 shares of the industrial products company’s stock worth $1,004,000 after acquiring an additional 350 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Standex International by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 64,197 shares of the industrial products company’s stock worth $10,361,000 after acquiring an additional 1,003 shares during the period. Institutional investors own 90.35% of the company’s stock.

Standex International Price Performance

Shares of Standex International stock opened at $233.15 on Thursday. Standex International Corporation has a 52-week low of $128.85 and a 52-week high of $235.94. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 50.25, a price-to-earnings-growth ratio of 2.93 and a beta of 1.15. The company has a fifty day moving average of $207.77 and a 200-day moving average of $172.82. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.10 and a current ratio of 2.88.

Standex International (NYSE:SXI) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.18. The company had revenue of $222.05 million during the quarter, compared to analysts’ expectations of $214.44 million. Standex International had a net margin of 7.06% and a return on equity of 13.92%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 EPS. Equities research analysts expect that Standex International Corporation will post 7.9 EPS for the current year.

Standex International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.32 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.28 annualized dividend and a yield of 0.5%. Standex International’s dividend payout ratio is 27.59%.

Insider Buying and Selling at Standex International

In other Standex International news, Director Thomas J. Hansen sold 2,992 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $202.60, for a total value of $606,179.20. Following the completion of the transaction, the director directly owned 8,439 shares in the company, valued at approximately $1,709,741.40. This represents a 26.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David A. Dunbar sold 16,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $200.00, for a total transaction of $3,200,000.00. Following the completion of the transaction, the chief executive officer owned 115,576 shares of the company’s stock, valued at $23,115,200. This trade represents a 12.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,992 shares of company stock valued at $6,171,179 over the last 90 days. Company insiders own 2.52% of the company’s stock.

Wall Street Analysts Forecast Growth

SXI has been the topic of a number of analyst reports. DA Davidson upped their target price on shares of Standex International from $200.00 to $219.00 and gave the stock a “buy” rating in a report on Monday, August 4th. Roth Capital reaffirmed a “buy” rating and set a $205.00 target price (up previously from $175.00) on shares of Standex International in a report on Monday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Standex International in a research note on Wednesday, October 8th. Barrington Research reissued an “outperform” rating and issued a $220.00 price target on shares of Standex International in a research note on Tuesday, July 29th. Finally, Wall Street Zen cut shares of Standex International from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $223.50.

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.