Standex International (NYSE:SXI) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Standex International (NYSE:SXI) from a hold rating to a strong sell rating in a research note issued to investors on Monday morning,Zacks.com reports.

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

Standex International Trading Up 3.1%

Shares of Standex International stock opened at $259.44 on Monday. The stock has a fifty day simple moving average of $261.67 and a 200 day simple moving average of $247.19. Standex International has a 12-month low of $144.62 and a 12-month high of $284.71. The company has a market capitalization of $3.14 billion, a P/E ratio of 31.60, a price-to-earnings-growth ratio of 3.23 and a beta of 1.09. The company has a current ratio of 2.87, a quick ratio of 2.10 and a debt-to-equity ratio of 0.76.

Standex International (NYSE:SXI) last issued its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.01). The company had revenue of $224.60 million for the quarter, compared to the consensus estimate of $225.16 million. Standex International had a net margin of 11.18% and a return on equity of 14.62%. Standex International’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $1.95 earnings per share. On average, sell-side analysts anticipate that Standex International will post 8.66 earnings per share for the current fiscal year.

Standex International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, May 8th. This represents a $1.36 annualized dividend and a yield of 0.5%. Standex International’s dividend payout ratio is presently 16.57%.

Insiders Place Their Bets

In other Standex International news, insider Vineet Kshirsagar sold 400 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $260.10, for a total value of $104,040.00. Following the transaction, the insider directly owned 4,647 shares in the company, valued at $1,208,684.70. The trade was a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the director directly owned 12,666 shares of the company’s stock, valued at $3,293,160. This represents a 3.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 16,013 shares of company stock valued at $4,102,367. Company insiders own 2.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Synovus Financial Corp bought a new stake in shares of Standex International in the third quarter valued at approximately $1,177,000. Anchor Capital Management Company LLC boosted its stake in Standex International by 43.9% during the third quarter. Anchor Capital Management Company LLC now owns 98,394 shares of the industrial products company’s stock valued at $20,850,000 after buying an additional 29,998 shares during the period. Kennedy Capital Management LLC bought a new stake in Standex International during the third quarter valued at $17,766,000. Segall Bryant & Hamill LLC bought a new stake in Standex International during the third quarter valued at approximately $19,763,000. Finally, Handelsbanken Fonder AB lifted its position in Standex International by 17.1% during the third quarter. Handelsbanken Fonder AB now owns 167,500 shares of the industrial products company’s stock valued at $35,493,000 after purchasing an additional 24,500 shares during the last quarter. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Standex International Company Profile

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.