Raymond James Financial Inc. Makes New Investment in Standex International Co. (NYSE:SXI)

Raymond James Financial Inc. acquired a new stake in Standex International Co. (NYSE:SXI) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 60,408 shares of the industrial products company’s stock, valued at approximately $11,296,000.

A number of other hedge funds have also modified their holdings of SXI. Versant Capital Management Inc raised its position in Standex International by 27.0% in the 4th quarter. Versant Capital Management Inc now owns 301 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 64 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Standex International by 183.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 510 shares of the industrial products company’s stock valued at $96,000 after buying an additional 330 shares during the last quarter. KBC Group NV boosted its stake in shares of Standex International by 45.7% during the fourth quarter. KBC Group NV now owns 548 shares of the industrial products company’s stock worth $102,000 after buying an additional 172 shares during the period. Hanson & Doremus Investment Management boosted its stake in shares of Standex International by 117.4% during the fourth quarter. Hanson & Doremus Investment Management now owns 926 shares of the industrial products company’s stock worth $173,000 after buying an additional 500 shares during the period. Finally, Bryn Mawr Capital Management LLC purchased a new position in shares of Standex International during the fourth quarter worth about $201,000. 90.35% of the stock is currently owned by hedge funds and other institutional investors.

Standex International Stock Down 1.3 %

SXI opened at $168.47 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.37 and a quick ratio of 2.61. Standex International Co. has a 12 month low of $154.45 and a 12 month high of $212.66. The stock has a market capitalization of $2.00 billion, a P/E ratio of 36.78, a P/E/G ratio of 2.63 and a beta of 1.02. The business has a 50 day simple moving average of $185.80 and a 200-day simple moving average of $187.51.

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

Standex International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Friday, February 14th. Standex International’s dividend payout ratio is currently 27.95%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, CFO Ademir Sarcevic sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $195.44, for a total value of $390,880.00. Following the sale, the chief financial officer now owns 16,086 shares in the company, valued at $3,143,847.84. This represents a 11.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.10% of the stock is currently owned by company insiders.

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.