Standex International (NYSE:SXI) Sets New 1-Year High – Here’s Why

Standex International Co. (NYSE:SXI)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $212.41 and last traded at $212.41, with a volume of 15014 shares changing hands. The stock had previously closed at $204.62.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. DA Davidson increased their price objective on shares of Standex International from $203.00 to $211.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Benchmark lifted their price target on Standex International from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barrington Research restated an “outperform” rating and set a $220.00 price objective on shares of Standex International in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Standex International from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th.

Standex International Price Performance

The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 33.54, a PEG ratio of 2.90 and a beta of 1.03. The company has a current ratio of 3.55, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $185.95 and a two-hundred day moving average price of $175.85.

Standex International (NYSE:SXI) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.05. The company had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $178.94 million. Standex International had a return on equity of 13.18% and a net margin of 10.26%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the business posted $1.74 earnings per share. As a group, research analysts forecast that Standex International Co. will post 7.84 EPS for the current year.

Standex International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.28 annualized dividend and a dividend yield of 0.61%. This is a positive change from Standex International’s previous quarterly dividend of $0.30. Standex International’s dividend payout ratio (DPR) is presently 20.98%.

Insider Transactions at Standex International

In other news, CFO Ademir Sarcevic sold 3,800 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $181.64, for a total value of $690,232.00. Following the completion of the transaction, the chief financial officer now owns 19,686 shares of the company’s stock, valued at approximately $3,575,765.04. This represents a 16.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas J. Hansen sold 1,661 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.41, for a total transaction of $349,491.01. Following the completion of the sale, the director now directly owns 11,431 shares of the company’s stock, valued at $2,405,196.71. The trade was a 12.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,061 shares of company stock worth $1,359,419. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SXI. Harbor Capital Advisors Inc. boosted its position in shares of Standex International by 292.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 5,233 shares of the industrial products company’s stock valued at $843,000 after purchasing an additional 3,900 shares during the period. Boston Partners acquired a new position in shares of Standex International in the first quarter worth $691,000. SG Americas Securities LLC acquired a new stake in Standex International during the second quarter valued at $743,000. Envestnet Asset Management Inc. grew its stake in Standex International by 5.1% in the second quarter. Envestnet Asset Management Inc. now owns 98,671 shares of the industrial products company’s stock valued at $15,901,000 after purchasing an additional 4,768 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in Standex International in the 2nd quarter worth about $4,299,000. 90.35% of the stock is owned by institutional investors and hedge funds.

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.