Standex International (NYSE:SXI – Get Free Report) posted its quarterly earnings results on Thursday. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.07, Zacks reports. Standex International had a net margin of 11.73% and a return on equity of 14.47%.
Standex International Trading Up 1.4%
NYSE SXI traded up $3.40 during trading hours on Thursday, hitting $247.95. 142,507 shares of the company’s stock were exchanged, compared to its average volume of 169,039. The stock has a 50-day simple moving average of $276.27 and a 200 day simple moving average of $277.53. Standex International has a 1-year low of $215.62 and a 1-year high of $363.89. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 2.68 and a beta of 1.07. The company has a current ratio of 2.40, a quick ratio of 1.84 and a debt-to-equity ratio of 0.69.
Standex International Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, November 6th. This is a positive change from Standex International’s previous quarterly dividend of $0.34. Standex International’s dividend payout ratio is currently 15.69%.
Analysts Set New Price Targets
Several research firms have weighed in on SXI. JPMorgan Chase & Co. began coverage on Standex International in a research note on Wednesday, October 14th. They set a “neutral” rating and a $320.00 target price for the company. Weiss Ratings downgraded Standex International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. Finally, DA Davidson restated a “buy” rating and set a $350.00 price target on shares of Standex International in a report on Thursday, August 20th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $304.00.
Get Our Latest Research Report on SXI
Insiders Place Their Bets
In other Standex International news, CEO David Dunbar sold 13,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 75,973 shares of the company’s stock, valued at approximately $22,094,467.86. The trade was a 14.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,100 shares of company stock valued at $3,810,182 in the last ninety days. Insiders own 2.00% of the company’s stock.
Standex International Company Profile
Standex International Corporation (NYSE:SXI) is a diversified industrial manufacturer that develops and produces specialized equipment, components and engineered products for customers in a range of commercial and industrial markets. The company serves original equipment manufacturers and other businesses through a portfolio of operations focused on applications requiring specialized technology, precision manufacturing and customized solutions.
Its businesses include Standex Electronics, which makes sensors, switches, relays, magnetic components and power magnetics; Standex Engraving, which provides engraved tooling, mold texturing and patterned rolls for plastics, packaging and other manufacturing applications; and Standex Engineering Technologies, which develops engineered components and systems for industrial and mobile equipment.
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