Standex International (NYSE:SXI) Issues Quarterly Earnings Results

Standex International (NYSE:SXI) released its quarterly earnings data on Thursday. The industrial products company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.04), Zacks reports. Standex International had a net margin of 6.20% and a return on equity of 14.29%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.95 earnings per share.

Standex International Stock Up 7.9%

Shares of SXI traded up $20.05 during mid-day trading on Thursday, hitting $273.11. The company’s stock had a trading volume of 277,251 shares, compared to its average volume of 195,876. Standex International has a 52-week low of $139.26 and a 52-week high of $284.71. The company’s 50-day moving average is $261.63 and its 200-day moving average is $246.74. The company has a current ratio of 2.87, a quick ratio of 2.10 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 61.24, a PEG ratio of 3.23 and a beta of 1.11.

Standex International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, May 8th. Standex International’s dividend payout ratio is presently 30.49%.

Insider Activity

In related news, CEO David A. Dunbar sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $255.94, for a total transaction of $3,839,100.00. Following the completion of the sale, the chief executive officer owned 88,973 shares of the company’s stock, valued at $22,771,749.62. This represents a 14.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas E. Chorman sold 513 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $260.00, for a total transaction of $133,380.00. Following the sale, the director directly owned 12,666 shares of the company’s stock, valued at $3,293,160. The trade was a 3.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 16,063 shares of company stock worth $4,114,860. 2.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Standex International

A number of hedge funds and other institutional investors have recently bought and sold shares of SXI. Wasatch Advisors LP lifted its position in Standex International by 61.3% during the fourth quarter. Wasatch Advisors LP now owns 1,369,859 shares of the industrial products company’s stock valued at $297,643,000 after acquiring an additional 520,506 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Standex International by 73.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 223,581 shares of the industrial products company’s stock valued at $48,580,000 after acquiring an additional 94,415 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Standex International by 23.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 392,820 shares of the industrial products company’s stock valued at $85,352,000 after acquiring an additional 74,599 shares during the last quarter. Jane Street Group LLC lifted its position in Standex International by 317.4% during the fourth quarter. Jane Street Group LLC now owns 45,349 shares of the industrial products company’s stock valued at $9,853,000 after acquiring an additional 34,485 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its position in Standex International by 23.6% during the third quarter. Raymond James Financial Inc. now owns 169,771 shares of the industrial products company’s stock valued at $35,975,000 after acquiring an additional 32,423 shares during the last quarter. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on SXI. Roth Mkm boosted their price objective on shares of Standex International from $260.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. DA Davidson upped their price target on shares of Standex International from $298.00 to $323.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Standex International in a research report on Monday, April 20th. Wall Street Zen cut shares of Standex International from a “buy” rating to a “hold” rating in a research report on Sunday, February 1st. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $260.00 price target on shares of Standex International in a research report on Monday, March 9th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $289.67.

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.