Corebridge Financial Inc. Sells 126 Shares of Standex International Corporation $SXI

Corebridge Financial Inc. lessened its holdings in Standex International Corporation (NYSE:SXI) by 2.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,084 shares of the industrial products company’s stock after selling 126 shares during the quarter. Corebridge Financial Inc. owned approximately 0.05% of Standex International worth $982,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SXI. Susquehanna International Group LLP grew its holdings in shares of Standex International by 486.9% in the fourth quarter. Susquehanna International Group LLP now owns 10,471 shares of the industrial products company’s stock worth $1,958,000 after purchasing an additional 8,687 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Standex International by 9.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,508 shares of the industrial products company’s stock valued at $1,591,000 after buying an additional 757 shares during the period. Northern Trust Corp boosted its position in Standex International by 5.1% in the 4th quarter. Northern Trust Corp now owns 204,927 shares of the industrial products company’s stock valued at $38,319,000 after buying an additional 9,974 shares during the period. Ameriprise Financial Inc. boosted its position in Standex International by 15.6% in the 4th quarter. Ameriprise Financial Inc. now owns 346,635 shares of the industrial products company’s stock valued at $64,817,000 after buying an additional 46,869 shares during the period. Finally, Benjamin Edwards Inc. boosted its position in Standex International by 7.7% in the 4th quarter. Benjamin Edwards Inc. now owns 2,724 shares of the industrial products company’s stock valued at $510,000 after buying an additional 194 shares during the period. 90.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SXI has been the subject of several research reports. DA Davidson boosted their price objective on shares of Standex International from $200.00 to $219.00 and gave the company a “buy” rating in a research report on Monday, August 4th. Wall Street Zen cut shares of Standex International from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Barrington Research reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Standex International in a research note on Tuesday, July 29th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $205.00 price objective (up from $175.00) on shares of Standex International in a research note on Monday, August 4th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $223.50.

Standex International Stock Up 1.7%

NYSE:SXI opened at $209.37 on Friday. Standex International Corporation has a 1-year low of $128.85 and a 1-year high of $212.65. The company has a 50-day moving average of $182.45 and a 200 day moving average of $166.46. The firm has a market cap of $2.53 billion, a PE ratio of 45.12, a price-to-earnings-growth ratio of 2.63 and a beta of 1.12. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.88 and a quick ratio of 2.10.

Standex International (NYSE:SXI) last announced its earnings results on Thursday, July 31st. The industrial products company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.18. The business had revenue of $222.05 million during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $1.76 earnings per share. As a group, research analysts anticipate that Standex International Corporation will post 7.9 EPS for the current fiscal year.

Standex International Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 0.6%. Standex International’s payout ratio is currently 27.59%.

Insider Transactions at Standex International

In other Standex International news, Director Thomas J. Hansen sold 2,992 shares of the business’s stock in a transaction dated 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. The trade was a 26.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David A. Dunbar sold 16,000 shares of the business’s stock in a transaction dated 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 represents a 12.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

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.