Shares of Standex International Corporation (NYSE:SXI – Get Free Report) have earned an average rating of “Moderate Buy” from the five analysts that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $298.67.
A number of analysts recently commented on SXI shares. Weiss Ratings cut shares of Standex International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. DA Davidson restated a “buy” rating and set a $350.00 price target on shares of Standex International in a research note on Thursday, August 20th.
Standex International Stock Performance
Standex International (NYSE:SXI – Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The industrial products company reported $2.45 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $226.47 million. During the same quarter last year, the company earned $2.28 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities research analysts expect that Standex International will post 9.96 earnings per share for the current fiscal year.
Standex International Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.5%. Standex International’s payout ratio is 15.69%.
Insider Activity
In related news, CEO David Dunbar sold 13,000 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $290.82, for a total value of $3,780,660.00. Following the completion of the transaction, the chief executive officer owned 75,973 shares in the company, valued at $22,094,467.86. This trade represents a 14.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 13,100 shares of company stock valued at $3,810,182. 2.00% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Standex International in the second quarter valued at approximately $640,120,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Standex International in the 2nd quarter worth approximately $149,891,000. Bank of New York Mellon Corp purchased a new position in Standex International during the 2nd quarter worth approximately $65,337,000. Sei Investments Co. lifted its stake in Standex International by 4.5% during the 1st quarter. Sei Investments Co. now owns 105,064 shares of the industrial products company’s stock valued at $26,774,000 after acquiring an additional 4,520 shares during the period. Finally, Kennedy Capital Management LLC lifted its stake in Standex International by 14.3% during the 4th quarter. Kennedy Capital Management LLC now owns 95,841 shares of the industrial products company’s stock valued at $20,824,000 after acquiring an additional 11,998 shares during the period. 90.35% of the stock is owned by institutional investors and hedge funds.
About Standex International
Standex International Corporation (NYSE: SXI) is a diversified manufacturing company headquartered in Salem, New Hampshire. Founded in 1955, the company designs and produces specialized industrial and commercial products for customers in a range of global markets.
Standex’s businesses include electronic components and systems such as sensors, reed switches, magnetic components, fluid-level controls and high-voltage products. The company also provides precision engraving and texturing technologies used in tooling, packaging, printing and other manufacturing applications, as well as engineered hydraulic and industrial products.
Standex serves customers internationally through manufacturing and operating locations in North America, Europe and Asia.
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