The Manufacturers Life Insurance Company Makes New $2.14 Million Investment in Standex International Corporation $SXI

The Manufacturers Life Insurance Company purchased a new stake in shares of Standex International Corporation (NYSE:SXI) in the 2nd quarter, HoldingsChannel reports. The fund purchased 5,973 shares of the industrial products company’s stock, valued at approximately $2,136,000.

A number of other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Standex International in the 2nd quarter worth approximately $640,120,000. Wasatch Advisors LP boosted its stake in Standex International by 61.3% in the fourth quarter. Wasatch Advisors LP now owns 1,369,859 shares of the industrial products company’s stock valued at $297,643,000 after acquiring an additional 520,506 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Standex International in the second quarter worth $149,891,000. Bank of New York Mellon Corp purchased a new position in Standex International in the second quarter worth $65,337,000. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of Standex International by 73.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 223,581 shares of the industrial products company’s stock worth $48,580,000 after purchasing an additional 94,415 shares in the last quarter. 90.35% of the stock is currently owned by institutional investors.

Standex International Stock Performance

Shares of SXI opened at $278.89 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.84 and a current ratio of 2.40. The stock has a 50-day moving average of $314.35 and a two-hundred day moving average of $285.03. The stock has a market cap of $3.38 billion, a P/E ratio of 32.17, a P/E/G ratio of 3.18 and a beta of 1.04. Standex International Corporation has a one year low of $197.00 and a one year high of $363.89.

Standex International (NYSE:SXI) last announced its quarterly earnings data on Friday, July 31st. The industrial products company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.10. Standex International had a return on equity of 14.47% and a net margin of 11.73%.The business had revenue of $228.25 million for the quarter, compared to analyst estimates of $226.47 million. During the same period in the prior year, the company earned $2.28 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. As a group, research analysts predict that Standex International Corporation will post 9.96 EPS for the current year.

Standex International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, August 7th. Standex International’s dividend payout ratio is 15.69%.

Insiders Place Their Bets

In other Standex International news, CEO David A. Dunbar sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $290.82, for a total transaction of $3,780,660.00. Following the completion of the transaction, the chief executive officer directly owned 75,973 shares of the company’s stock, valued at approximately $22,094,467.86. This trade represents a 14.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 13,100 shares of company stock valued at $3,813,714. 2.52% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SXI has been the subject of several analyst reports. DA Davidson reiterated a “buy” rating and set a $350.00 price objective on shares of Standex International in a report on Thursday, August 20th. Zacks Research upgraded Standex International from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Weiss Ratings downgraded Standex International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Standex International presently has an average rating of “Moderate Buy” and an average price target of $298.67.

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.