Standex International (NYSE:SXI) Reaches New 1-Year High – Here’s What Happened

Standex International Corporation (NYSE:SXI)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $228.71 and last traded at $226.25, with a volume of 206697 shares changing hands. The stock had previously closed at $217.17.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SXI shares. Weiss Ratings restated a “hold (c)” rating on shares of Standex International in a report on Wednesday, October 8th. DA Davidson boosted their price target on shares of Standex International from $200.00 to $219.00 and gave the company a “buy” rating in a report on Monday, August 4th. Roth Capital restated a “buy” rating and issued a $205.00 price target (up previously from $175.00) on shares of Standex International in a report on Monday, August 4th. Barrington Research restated an “outperform” rating and issued a $220.00 price target on shares of Standex International in a report on Tuesday, July 29th. Finally, Wall Street Zen lowered shares of Standex International from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $223.50.

Standex International Price Performance

The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.10 and a current ratio of 2.88. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 48.76, a price-to-earnings-growth ratio of 2.77 and a beta of 1.15. The stock’s 50 day simple moving average is $206.26 and its 200-day simple moving average is $172.00.

Standex International (NYSE:SXI) last issued its quarterly earnings results on Thursday, July 31st. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.18. Standex International had a net margin of 7.06% and a return on equity of 13.92%. The business had revenue of $222.05 million for the quarter, compared to analyst estimates of $214.44 million. During the same quarter in the prior year, the business posted $1.76 EPS. Standex International’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities research analysts anticipate that Standex International Corporation will post 7.9 EPS for the current fiscal year.

Standex International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.32 per share. 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 dividend payout ratio is presently 27.59%.

Insider Buying and Selling

In other Standex International news, Director Thomas J. Hansen sold 2,992 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $202.60, for a total transaction of $606,179.20. Following the transaction, the director owned 8,439 shares in the company, valued at approximately $1,709,741.40. This represents a 26.17% decrease in their position. 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 company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $200.00, for a total transaction of $3,200,000.00. Following the transaction, the chief executive officer owned 115,576 shares in the company, valued at $23,115,200. The trade was a 12.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,992 shares of company stock worth $6,171,179 in the last 90 days. 2.52% of the stock is currently owned by company insiders.

Institutional Trading of Standex International

Several large investors have recently made changes to their positions in SXI. SG Americas Securities LLC boosted its holdings in shares of Standex International by 53.3% in the 1st quarter. SG Americas Securities LLC now owns 1,924 shares of the industrial products company’s stock valued at $311,000 after acquiring an additional 669 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Standex International by 25.2% in the 1st quarter. Fifth Third Bancorp now owns 780 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 157 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Standex International by 5.2% in the 1st quarter. Bessemer Group Inc. now owns 12,246 shares of the industrial products company’s stock valued at $1,977,000 after acquiring an additional 602 shares during the last quarter. Diversified Trust Co boosted its holdings in Standex International by 6.0% during the first quarter. Diversified Trust Co now owns 6,222 shares of the industrial products company’s stock worth $1,004,000 after buying an additional 350 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Standex International by 1.6% during the first quarter. Principal Financial Group Inc. now owns 64,197 shares of the industrial products company’s stock worth $10,361,000 after buying an additional 1,003 shares in the last quarter. 90.35% of the stock is owned by hedge funds and other institutional investors.

About Standex International

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.