Key Points
- Director Charles Cannon, Jr. sold 908 shares at an average price of $259.03, totaling about $235,199. He retained 1,989 shares, reducing his position by 31.34%.
- Standex reported quarterly EPS of $2.41, beating estimates of $2.34, while revenue rose 7% year over year to $232.57 million.
- The company raised its quarterly dividend from $0.34 to $0.36 per share. Shares were down 7.5%, opening Friday at $232.55.
Standex International Corporation (NYSE:SXI - Get Free Report) Director Charles Cannon, Jr. sold 908 shares of the firm's stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $259.03, for a total transaction of $235,199.24. Following the completion of the transaction, the director directly owned 1,989 shares in the company, valued at $515,210.67. This trade represents a 31.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Standex International Stock Down 7.5%
Shares of NYSE:SXI opened at $232.55 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.19 and a quick ratio of 2.30. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 24.74, a P/E/G ratio of 2.74 and a beta of 1.07. The company has a 50 day moving average of $269.05 and a 200-day moving average of $277.63. Standex International Corporation has a one year low of $215.62 and a one year high of $363.89.
Standex International (NYSE:SXI - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The industrial products company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.07. Standex International had a net margin of 12.54% and a return on equity of 14.84%. The business had revenue of $232.57 million for the quarter, compared to analyst estimates of $229.65 million. During the same period in the prior year, the business posted $1.99 earnings per share. Standex International's revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts forecast that Standex International Corporation will post 10.18 earnings per share for the current year.
Standex International Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders 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 presently 14.47%.
Institutional Trading of Standex International
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cedar Mountain Advisors LLC bought a new position in Standex International during the 1st quarter worth approximately $29,000. Transamerica Financial Advisors LLC acquired a new position in Standex International during the second quarter valued at approximately $42,000. Allworth Financial LP acquired a new position in Standex International during the second quarter valued at approximately $46,000. State of Wyoming acquired a new position in Standex International during the second quarter valued at approximately $46,000. Finally, Persistent Asset Partners Ltd bought a new stake in Standex International in the second quarter valued at approximately $60,000. 90.35% of the stock is owned by institutional investors.
Analyst Ratings Changes
SXI has been the topic of a number of analyst reports. Weiss Ratings downgraded Standex International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, September 18th. JPMorgan Chase & Co. assumed coverage on Standex International in a research note on Wednesday, October 14th. They set a "neutral" rating and a $320.00 price objective for the company. Finally, DA Davidson reiterated a "buy" rating and issued a $350.00 price objective on shares of Standex International in a report on Thursday, August 20th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $304.00.
Read Our Latest Report on SXI
About Standex International
(
Get Free Report)
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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