Insider Selling: Standex International (NYSE:SXI) CEO Sells $4,230,000.00 in Stock

Standex International Corporation (NYSE:SXI) CEO David Dunbar sold 18,000 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $235.00, for a total transaction of $4,230,000.00. Following the transaction, the chief executive officer directly owned 103,973 shares of the company’s stock, valued at approximately $24,433,655. This trade represents a 14.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Standex International Price Performance

NYSE:SXI opened at $233.26 on Monday. The firm’s fifty day moving average is $209.54 and its two-hundred day moving average is $174.08. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 50.27, a PEG ratio of 2.98 and a beta of 1.15. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.10 and a current ratio of 2.88. Standex International Corporation has a one year low of $128.85 and a one year high of $236.06.

Standex International (NYSE:SXI) last issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.18. Standex International had a return on equity of 13.92% and a net margin of 7.06%.The business had revenue of $222.05 million during the quarter, compared to analysts’ expectations of $214.44 million. During the same quarter in the previous year, the firm posted $1.76 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. Research analysts expect that Standex International Corporation will post 7.9 EPS for the current year.

Standex International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.5%. Standex International’s dividend payout ratio (DPR) is presently 27.59%.

Analysts Set New Price Targets

Several research firms recently issued reports on SXI. Wall Street Zen cut shares of Standex International from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. DA Davidson lifted their price objective 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. Barrington Research reissued an “outperform” rating and set a $220.00 target price on shares of Standex International in a research note on Tuesday, July 29th. Weiss Ratings restated a “hold (c)” rating on shares of Standex International in a research note on Wednesday, October 8th. Finally, Roth Capital reaffirmed 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. Five equities research 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 target price of $223.50.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SXI. Voya Investment Management LLC lifted its stake in Standex International by 17.9% in the 3rd quarter. Voya Investment Management LLC now owns 165,146 shares of the industrial products company’s stock valued at $34,994,000 after buying an additional 25,028 shares in the last quarter. Corient Private Wealth LLC purchased a new position in shares of Standex International in the second quarter valued at approximately $344,000. Osaic Holdings Inc. boosted its stake in shares of Standex International by 30.4% in the second quarter. Osaic Holdings Inc. now owns 5,823 shares of the industrial products company’s stock worth $913,000 after acquiring an additional 1,359 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Standex International during the second quarter worth approximately $3,292,000. Finally, Thrivent Financial for Lutherans raised its stake in Standex International by 1.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 8,877 shares of the industrial products company’s stock valued at $1,389,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 90.35% 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.