Standex International Corporation (NYSE:SXI) Stock Rated “Moderate Buy” by Wall Street Analysts

Standex International Corporation (NYSE:SXI) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $304.00.

A number of brokerages recently commented on SXI. Weiss Ratings downgraded Standex International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 18th. DA Davidson restated a “buy” rating and issued a $350.00 target price on shares of Standex International in a report on Thursday, August 20th. Finally, JPMorgan Chase & Co. started coverage on Standex International in a research note on Wednesday, October 14th. They issued a “neutral” rating and a $320.00 target price for the company.

Standex International Stock Performance

Shares of Standex International stock opened at $242.68 on Wednesday. The stock’s 50 day simple moving average is $277.79 and its 200-day simple moving average is $277.50. Standex International has a 1-year low of $215.62 and a 1-year high of $363.89.

Standex International (NYSE:SXI) last posted its quarterly earnings results on Friday, July 31st. The industrial products company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.35 by $0.10. The company had revenue of $228.25 million during the quarter, compared to analyst estimates of $226.47 million. During the same period in the prior year, the business posted $2.28 EPS. Standex International’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts expect that Standex International will post 9.98 EPS for the current year.

Standex International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders 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 of this dividend is Friday, November 6th. This is a positive change from Standex International’s previous quarterly dividend of $0.34.

Insider Buying and Selling at Standex International

In related news, CEO David Dunbar sold 13,000 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $290.82, for a total value of $3,780,660.00. Following the completion of the sale, the chief executive officer owned 75,973 shares of the company’s stock, valued at approximately $22,094,467.86. This represents a 14.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 13,100 shares of company stock worth $3,810,182. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Standex International

Several hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System raised its position in shares of Standex International by 26.5% during the 1st quarter. California State Teachers Retirement System now owns 14,604 shares of the industrial products company’s stock valued at $3,722,000 after buying an additional 3,059 shares during the period. Jupiter Topco LLC acquired a new position in Standex International in the second quarter valued at approximately $2,033,000. The Manufacturers Life Insurance Company acquired a new position in Standex International in the second quarter valued at approximately $2,136,000. Castleark Management LLC purchased a new position in Standex International in the second quarter worth approximately $5,175,000. Finally, Susquehanna Fundamental Investments LLC grew its position in Standex International by 42.3% in the second quarter. Susquehanna Fundamental Investments LLC now owns 27,804 shares of the industrial products company’s stock worth $9,945,000 after acquiring an additional 8,270 shares during the period. 90.35% of the stock is currently owned by institutional investors and hedge funds.

About Standex International

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.