Standex International (NYSE:SXI) Hits New 12-Month High – Here’s Why

by · The Markets Daily

Standex International Corporation (NYSE:SXIGet Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $251.32 and last traded at $245.8140, with a volume of 245230 shares. The stock had previously closed at $231.06.

Analysts Set New Price Targets

SXI has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Standex International in a research note on Wednesday, October 8th. Wall Street Zen raised Standex International from a “hold” rating to a “buy” rating in a report on Sunday. Barrington Research reaffirmed an “outperform” rating and issued a $260.00 price target on shares of Standex International in a report on Thursday, November 20th. DA Davidson reissued a “buy” rating and issued a $272.00 price target on shares of Standex International in a report on Monday, November 24th. Finally, Roth Capital lifted their price objective on shares of Standex International from $205.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Standex International presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.00.

View Our Latest Stock Report on SXI

Standex International Stock Up 6.4%

The business’s 50 day simple moving average is $233.65 and its 200-day simple moving average is $198.42. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.07 and a current ratio of 2.87. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 56.38 and a beta of 1.10.

Standex International (NYSE:SXIGet Free Report) last released its quarterly earnings results on Friday, October 31st. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.05. The company had revenue of $217.43 million during the quarter, compared to the consensus estimate of $215.96 million. Standex International had a return on equity of 14.20% and a net margin of 6.29%.The firm’s revenue was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.84 EPS. Sell-side analysts expect that Standex International Corporation will post 7.9 earnings per share for the current year.

Standex International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 7th were paid a $0.34 dividend. The ex-dividend date was Friday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. This is a boost from Standex International’s previous quarterly dividend of $0.32. Standex International’s dividend payout ratio is presently 31.19%.

Insiders Place Their Bets

In related news, Director Thomas E. Chorman sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $223.31, for a total value of $223,310.00. Following the completion of the sale, the director owned 13,229 shares of the company’s stock, valued at $2,954,167.99. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Vineet Kshirsagar sold 650 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $233.37, for a total value of $151,690.50. Following the completion of the transaction, the insider directly owned 5,047 shares in the company, valued at approximately $1,177,818.39. This trade represents a 11.41% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 32,473 shares of company stock valued at $7,389,509. 2.52% of the stock is owned by corporate insiders.

Institutional Trading of Standex International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP lifted its holdings in Standex International by 62.4% during the 2nd quarter. Wasatch Advisors LP now owns 866,830 shares of the industrial products company’s stock valued at $135,642,000 after purchasing an additional 332,941 shares during the last quarter. Champlain Investment Partners LLC increased its position in shares of Standex International by 2.1% in the second quarter. Champlain Investment Partners LLC now owns 603,095 shares of the industrial products company’s stock worth $94,372,000 after purchasing an additional 12,544 shares during the period. Geode Capital Management LLC boosted its stake in shares of Standex International by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 286,756 shares of the industrial products company’s stock valued at $44,877,000 after purchasing an additional 7,522 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Standex International by 1.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 245,244 shares of the industrial products company’s stock worth $51,778,000 after buying an additional 4,621 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Standex International by 2.1% in the 1st quarter. Northern Trust Corp now owns 209,316 shares of the industrial products company’s stock worth $33,782,000 after purchasing an additional 4,389 shares in the last quarter. Institutional investors and hedge funds own 90.35% of the company’s stock.

About Standex International

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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.

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