Insider Buying: Standex International (NYSE:SXI) VP Buys $12,328.20 in Stock

Standex International Corporation (NYSE:SXI) VP Max Arets purchased 45 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was acquired at an average cost of $273.96 per share, with a total value of $12,328.20. Following the transaction, the vice president directly owned 1,641 shares in the company, valued at $449,568.36. This trade represents a 2.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Standex International Stock Up 0.7%

Standex International stock opened at $268.70 on Friday. The firm has a market capitalization of $3.30 billion, a P/E ratio of 30.99, a P/E/G ratio of 2.98 and a beta of 1.04. The company has a current ratio of 2.40, a quick ratio of 1.84 and a debt-to-equity ratio of 0.69. Standex International Corporation has a twelve month low of $199.80 and a twelve month high of $363.89. The stock’s fifty day simple moving average is $304.48 and its 200-day simple moving average is $285.54.

Standex International (NYSE:SXI) last released its earnings results on Friday, July 31st. The industrial products company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.35 by $0.10. Standex International had a return on equity of 14.47% and a net margin of 11.73%.The firm had revenue of $228.25 million during the quarter, compared to analysts’ expectations of $226.47 million. During the same period in the previous year, the firm posted $2.28 EPS. Standex International’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities analysts expect that Standex International Corporation will post 9.96 earnings per share for the current fiscal year.

Standex International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.5%. Standex International’s payout ratio is currently 15.69%.

Institutional Investors Weigh In On Standex International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its holdings in shares of Standex International by 33,144.4% in the 2nd quarter. California State Teachers Retirement System now owns 4,855,013 shares of the industrial products company’s stock valued at $1,736,492,000 after purchasing an additional 4,840,409 shares during the last quarter. BlackRock Inc. purchased a new position in Standex International during the 2nd quarter worth approximately $640,120,000. Wasatch Advisors LP grew its stake in Standex International by 61.3% during the 4th quarter. Wasatch Advisors LP now owns 1,369,859 shares of the industrial products company’s stock worth $297,643,000 after buying an additional 520,506 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Standex International during the second quarter worth approximately $149,891,000. Finally, Bank of New York Mellon Corp purchased a new stake in Standex International in the second quarter valued at approximately $65,337,000. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Zacks Research upgraded shares of Standex International from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Weiss Ratings raised shares of Standex International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, September 3rd. Finally, DA Davidson reaffirmed a “buy” rating and set a $350.00 price objective on shares of Standex International in a research report on Thursday, August 20th. Four 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.com, Standex International has a consensus rating of “Moderate Buy” and a consensus price target of $298.67.

Standex International Company Profile

Standex International Corporation (NYSE:SXI) is a diversified industrial manufacturer that designs and produces specialized products for a range of industrial, commercial and consumer applications. The company serves customers through businesses focused on electronics, engraving, hydraulics, food service equipment and other engineered products.

Its electronics operations manufacture components and systems such as magnetic products, transformers, sensors, switches and other power and electronic technologies.