TD Asset Management Inc Buys Shares of 2,742 Standex International Corporation $SXI

TD Asset Management Inc bought a new stake in Standex International Corporation (NYSE:SXI) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,742 shares of the industrial products company’s stock, valued at approximately $581,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Wasatch Advisors LP grew its holdings in shares of Standex International by 62.4% during the second quarter. Wasatch Advisors LP now owns 866,830 shares of the industrial products company’s stock valued at $135,642,000 after buying an additional 332,941 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in Standex International by 2.1% in the 2nd quarter. Champlain Investment Partners LLC now owns 603,095 shares of the industrial products company’s stock worth $94,372,000 after acquiring an additional 12,544 shares in the last quarter. Geode Capital Management LLC lifted its stake in Standex International by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 286,756 shares of the industrial products company’s stock worth $44,877,000 after acquiring an additional 7,522 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Standex International by 1.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 245,244 shares of the industrial products company’s stock worth $51,778,000 after acquiring an additional 4,621 shares during the period. Finally, Voya Investment Management LLC grew its stake in Standex International by 17.9% during the 3rd quarter. Voya Investment Management LLC now owns 165,146 shares of the industrial products company’s stock valued at $34,994,000 after acquiring an additional 25,028 shares in the last quarter. Institutional investors and hedge funds own 90.35% of the company’s stock.

Insider Buying and Selling at Standex International

In other news, insider Vineet Kshirsagar sold 400 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $260.10, for a total transaction of $104,040.00. Following the transaction, the insider owned 4,647 shares in the company, valued at $1,208,684.70. This represents a 7.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas E. Chorman sold 513 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $260.00, for a total transaction of $133,380.00. Following the transaction, the director owned 12,666 shares in the company, valued at approximately $3,293,160. This trade represents a 3.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 16,013 shares of company stock valued at $4,101,963. 2.52% of the stock is currently owned by insiders.

Standex International Stock Down 1.8%

SXI opened at $250.94 on Friday. Standex International Corporation has a fifty-two week low of $128.85 and a fifty-two week high of $270.87. The business has a 50-day moving average of $246.99 and a 200-day moving average of $231.84. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.87 and a quick ratio of 2.10. The company has a market capitalization of $3.04 billion, a PE ratio of 56.26 and a beta of 1.09.

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

Standex International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a $0.34 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.36 dividend on an annualized basis and a yield of 0.5%. Standex International’s payout ratio is 30.49%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SXI. Wall Street Zen downgraded Standex International from a “buy” rating to a “hold” rating in a report on Sunday, February 1st. Weiss Ratings restated a “hold (c)” rating on shares of Standex International in a report on Wednesday, January 21st. DA Davidson boosted their price objective on shares of Standex International from $272.00 to $298.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Barrington Research reiterated an “outperform” rating and issued a $260.00 target price on shares of Standex International in a research report on Monday, February 2nd. Finally, Roth Mkm lifted their target price on shares of Standex International from $260.00 to $286.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $281.33.

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.