Corebridge Financial Inc. Has $1.16 Million Stake in Standex International Co. (NYSE:SXI)

Corebridge Financial Inc. lessened its holdings in shares of Standex International Co. (NYSE:SXI) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,210 shares of the industrial products company’s stock after selling 476 shares during the period. Corebridge Financial Inc.’s holdings in Standex International were worth $1,161,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Standex International by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 1,418,703 shares of the industrial products company’s stock worth $265,283,000 after buying an additional 15,518 shares in the last quarter. State Street Corp raised its holdings in Standex International by 5.1% in the 3rd quarter. State Street Corp now owns 486,099 shares of the industrial products company’s stock valued at $88,849,000 after acquiring an additional 23,786 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Standex International by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 308,217 shares of the industrial products company’s stock valued at $56,345,000 after acquiring an additional 9,119 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Standex International by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 148,895 shares of the industrial products company’s stock worth $27,842,000 after purchasing an additional 5,012 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Standex International by 5.4% in the fourth quarter. Principal Financial Group Inc. now owns 63,194 shares of the industrial products company’s stock worth $11,817,000 after purchasing an additional 3,224 shares during the period. 90.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SXI shares. DA Davidson upped their price objective on shares of Standex International from $222.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. StockNews.com lowered shares of Standex International from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. William Blair restated an “outperform” rating on shares of Standex International in a research report on Tuesday, March 11th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Standex International in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $231.33.

Standex International Trading Down 6.6 %

SXI opened at $138.93 on Friday. The company has a market cap of $1.65 billion, a P/E ratio of 30.34, a PEG ratio of 2.63 and a beta of 0.95. The company has a current ratio of 3.37, a quick ratio of 2.61 and a debt-to-equity ratio of 0.81. The company’s 50 day moving average is $179.97 and its 200-day moving average is $186.86. Standex International Co. has a 1-year low of $134.67 and a 1-year high of $212.66.

Standex International (NYSE:SXI) last issued its earnings results on Thursday, January 30th. The industrial products company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.23. Standex International had a net margin of 7.59% and a return on equity of 13.28%. Equities research analysts predict that Standex International Co. will post 7.9 earnings per share for the current fiscal year.

Standex International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.32 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.28 dividend on an annualized basis and a yield of 0.92%. Standex International’s payout ratio is presently 27.95%.

Insiders Place Their Bets

In other Standex International news, CFO Ademir Sarcevic sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $195.44, for a total value of $390,880.00. Following the completion of the transaction, the chief financial officer now directly owns 16,086 shares in the company, valued at approximately $3,143,847.84. This represents a 11.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

Standex International 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.