Standex International (NYSE:SXI) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Standex International (NYSE:SXI) in a report issued on Wednesday, MarketBeat Ratings reports. The firm issued a neutral rating and a $320.00 price objective on the industrial products company’s stock.

A number of other brokerages have also issued reports on SXI. Weiss Ratings lowered Standex International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. DA Davidson reaffirmed a “buy” rating and set a $350.00 price target on shares of Standex International in a research report on Thursday, August 20th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $304.00.

Standex International Trading Down 0.7%

NYSE SXI opened at $264.85 on Wednesday. The company has a fifty day simple moving average of $287.46 and a two-hundred day simple moving average of $288.72. The stock has a market cap of $3.25 billion, a P/E ratio of 30.55, a P/E/G ratio of 2.97 and a beta of 1.07. Standex International has a 12-month low of $215.62 and a 12-month high of $363.89. 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 (NYSE:SXI) last posted its quarterly earnings data 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. The business had revenue of $228.25 million during the quarter, compared to the consensus estimate of $226.47 million. Standex International had a net margin of 11.73% and a return on equity of 14.47%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.28 earnings per share. On average, analysts forecast that Standex International will post 9.98 earnings per share for the current year.

Standex International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were issued 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 was Friday, August 7th. Standex International’s dividend payout ratio is 15.69%.

Insider Activity

In related news, CEO David Dunbar sold 13,000 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $290.82, for a total transaction of $3,780,660.00. Following the completion of the transaction, the chief executive officer directly owned 75,973 shares in the company, valued at $22,094,467.86. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 13,100 shares of company stock worth $3,810,182 over the last three months. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Standex International

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Standex International in the second quarter worth about $640,120,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Standex International during the second quarter valued at approximately $149,891,000. Bank of New York Mellon Corp purchased a new position in Standex International during the second quarter valued at approximately $65,337,000. Sei Investments Co. raised its position in Standex International by 4.5% during the first quarter. Sei Investments Co. now owns 105,064 shares of the industrial products company’s stock valued at $26,774,000 after acquiring an additional 4,520 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Standex International by 2.2% during the first quarter. Principal Financial Group Inc. now owns 59,171 shares of the industrial products company’s stock valued at $15,080,000 after acquiring an additional 1,271 shares in the last quarter. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Standex International Company Profile

Standex International Corporation (NYSE: SXI) is a diversified manufacturing company headquartered in Salem, New Hampshire. Founded in 1955, the company designs and produces specialized industrial and commercial products for customers in a range of global markets.

Standex’s businesses include electronic components and systems such as sensors, reed switches, magnetic components, fluid-level controls and high-voltage products. The company also provides precision engraving and texturing technologies used in tooling, packaging, printing and other manufacturing applications, as well as engineered hydraulic and industrial products.

Standex serves customers internationally through manufacturing and operating locations in North America, Europe and Asia.