Standex International (NYSE:SXI) Reaches New 1-Year High – Here’s Why
by Danessa Lincoln · The Markets DailyStandex International Corporation (NYSE:SXI – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $271.53 and last traded at $270.30, with a volume of 36367 shares. The stock had previously closed at $253.77.
Wall Street Analysts Forecast Growth
SXI has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Standex International from a “buy” rating to a “hold” rating in a report on Sunday, February 1st. Barrington Research reissued an “outperform” rating and issued a $260.00 price target on shares of Standex International in a research note on Monday, March 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Standex International in a research note on Wednesday, January 21st. DA Davidson lifted their price target on shares of Standex International from $272.00 to $298.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, Roth Mkm lifted their price target on shares of Standex International from $260.00 to $286.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $281.33.
View Our Latest Stock Report on Standex International
Standex International Stock Up 6.1%
The business’s 50 day moving average is $254.99 and its 200-day moving average is $239.99. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 60.35 and a beta of 1.11. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.10 and a current ratio of 2.87.
Standex International (NYSE:SXI – Get Free Report) last released its quarterly earnings results on Friday, January 30th. The industrial products company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. Standex International had a net margin of 6.20% and a return on equity of 14.29%. The firm had revenue of $221.32 million for the quarter, compared to analysts’ expectations of $219.22 million. During the same quarter last year, the company earned $1.91 EPS. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, sell-side analysts predict that Standex International Corporation will post 7.9 EPS for the current fiscal year.
Standex International Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.34 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.36 dividend on an annualized basis and a yield of 0.5%. Standex International’s dividend payout ratio (DPR) is presently 30.49%.
Insider Transactions at Standex International
In other Standex International news, insider Vineet Kshirsagar sold 400 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $260.10, for a total value of $104,040.00. Following the transaction, the insider owned 4,647 shares in the company, valued at approximately $1,208,684.70. This trade represents a 7.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas E. Chorman sold 513 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $260.00, for a total value of $133,380.00. Following the completion of the transaction, the director owned 12,666 shares in the company, valued at $3,293,160. The trade was a 3.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 16,063 shares of company stock worth $4,114,860. Company insiders own 2.52% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its holdings in Standex International by 144.7% in the 4th quarter. Cornerstone Planning Group LLC now owns 115 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 68 shares in the last quarter. Financial Consulate Inc. purchased a new position in Standex International in the 3rd quarter valued at $25,000. UMB Bank n.a. lifted its holdings in Standex International by 132.7% in the 4th quarter. UMB Bank n.a. now owns 128 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 73 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Standex International in the 3rd quarter valued at $28,000. Finally, Simplex Trading LLC purchased a new position in Standex International in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 90.35% of the company’s stock.
About Standex International
Standex International Corporation is a diversified global manufacturer specializing in food service equipment, engineered components, and industrial products. Operating across multiple markets, the company designs and produces commercial cooking and warming solutions, precision-engraved nameplates and decorative products, fluid power hydraulics, and magnetics-based electronics. These offerings serve a broad array of end markets, including quick-service restaurants, automotive, aerospace, medical devices, and consumer appliances.
With business organized into key segments—Food Service Equipment, Engraving & Decorating, Hydraulics, Industrial Electronics, and Technical Graphical Solutions—Standex delivers a combination of proprietary technology, automated manufacturing processes, and custom engineering services.