American International Group Inc. Decreases Stock Holdings in Standex International Co. (NYSE:SXI)


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American International Group Inc. reduced its holdings in shares of Standex International Co. (NYSE:SXI) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,287 shares of the industrial products company’s stock after selling 207 shares during the quarter. American International Group Inc. owned 0.07% of Standex International worth $642,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Standex International by 3.0% in the fourth quarter. BlackRock Inc. now owns 1,889,620 shares of the industrial products company’s stock valued at $146,483,000 after purchasing an additional 55,388 shares during the period. FMR LLC boosted its stake in shares of Standex International by 11.0% in the first quarter. FMR LLC now owns 421,338 shares of the industrial products company’s stock valued at $30,926,000 after purchasing an additional 41,723 shares during the period. Copeland Capital Management LLC boosted its stake in shares of Standex International by 15.9% in the fourth quarter. Copeland Capital Management LLC now owns 400,556 shares of the industrial products company’s stock valued at $31,051,000 after purchasing an additional 54,980 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Standex International by 4.9% in the fourth quarter. Bank of New York Mellon Corp now owns 161,259 shares of the industrial products company’s stock valued at $12,501,000 after purchasing an additional 7,521 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Standex International by 11.0% in the fourth quarter. Rhumbline Advisers now owns 43,571 shares of the industrial products company’s stock valued at $3,378,000 after purchasing an additional 4,327 shares during the period. Institutional investors own 85.50% of the company’s stock.

SXI opened at $95.40 on Thursday. The stock has a market capitalization of $1.18 billion, a PE ratio of 67.18, a P/E/G ratio of 1.40 and a beta of 1.37. The firm’s fifty day moving average price is $98.89 and its 200 day moving average price is $80.71. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.75 and a quick ratio of 1.95. Standex International Co. has a 12-month low of $40.32 and a 12-month high of $108.17.

Standex International (NYSE:SXI) last issued its earnings results on Wednesday, February 3rd. The industrial products company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.05. The company had revenue of $156.28 million for the quarter, compared to analysts’ expectations of $154.32 million. Standex International had a net margin of 2.74% and a return on equity of 9.39%. During the same period in the prior year, the company earned $1.03 earnings per share. On average, equities research analysts forecast that Standex International Co. will post 4.22 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 25th. Shareholders of record on Wednesday, February 10th were issued a dividend of $0.24 per share. The ex-dividend date was Tuesday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.01%. Standex International’s dividend payout ratio (DPR) is 27.51%.

In related news, insider Paul C. Burns sold 2,670 shares of the stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $91.01, for a total value of $242,996.70. Also, CEO David A. Dunbar sold 2,000 shares of the stock in a transaction dated Friday, February 19th. The stock was sold at an average price of $95.00, for a total transaction of $190,000.00. Following the completion of the sale, the chief executive officer now directly owns 53,549 shares in the company, valued at approximately $5,087,155. The disclosure for this sale can be found here. Insiders have sold 5,217 shares of company stock worth $485,684 over the last three months. 2.32% of the stock is owned by corporate insiders.

SXI has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Standex International from a “buy” rating to a “hold” rating in a research note on Tuesday, January 5th. Barrington Research upped their price target on shares of Standex International from $101.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, March 1st. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $86.00.

Standex International Company Profile

Standex International Corporation, together with subsidiaries, manufactures and sells various products and services for commercial and industrial markets in the United States and internationally. The company operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.

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Institutional Ownership by Quarter for Standex International (NYSE:SXI)

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