Standex International (NYSE:SXI) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Standex International (NYSE:SXI) from a hold rating to a buy rating in a report published on Sunday morning.

Several other analysts have also recently issued reports on SXI. Barrington Research reaffirmed an “outperform” rating and set a $260.00 price objective on shares of Standex International in a research note on Thursday, November 20th. Roth Capital increased their price target on Standex International from $205.00 to $260.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Standex International in a research note on Wednesday, October 8th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $272.00 target price on shares of Standex International in a research note on Monday, November 24th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $264.00.

Standex International Stock Down 0.6%

NYSE SXI opened at $242.30 on Friday. The business has a fifty day moving average price of $232.05 and a 200 day moving average price of $196.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.07 and a current ratio of 2.87. The company has a market cap of $2.94 billion, a P/E ratio of 55.57 and a beta of 1.10. Standex International has a one year low of $128.85 and a one year high of $249.61.

Standex International (NYSE:SXI) last announced its earnings results on Friday, October 31st. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.05. The company had revenue of $217.43 million for the quarter, compared to analysts’ expectations of $215.96 million. Standex International had a net margin of 6.29% and a return on equity of 14.20%. The firm’s quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.84 EPS. Research analysts anticipate that Standex International will post 7.9 EPS for the current fiscal year.

Standex International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 7th were given a dividend of $0.34 per share. This is an increase from Standex International’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, November 7th. Standex International’s dividend payout ratio is currently 31.19%.

Insider Buying and Selling

In related news, CFO Ademir Sarcevic sold 1,823 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $230.12, for a total transaction of $419,508.76. Following the sale, the chief financial officer directly owned 9,341 shares in the company, valued at approximately $2,149,550.92. This represents a 16.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David A. Dunbar sold 18,000 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $235.00, for a total value of $4,230,000.00. Following the completion of the transaction, the chief executive officer owned 103,973 shares in the company, valued at approximately $24,433,655. The trade was a 14.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,473 shares of company stock worth $7,389,509 in the last quarter. Company insiders own 2.52% of the company’s stock.

Institutional Investors Weigh In On Standex International

Several large investors have recently modified their holdings of the company. Financial Consulate Inc. acquired a new position in shares of Standex International in the 3rd quarter valued at $25,000. Measured Wealth Private Client Group LLC purchased a new position in Standex International during the 3rd quarter worth $28,000. AlphaQuest LLC increased its stake in Standex International by 72.8% in the third quarter. AlphaQuest LLC now owns 197 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 83 shares during the period. Huntington National Bank increased its stake in Standex International by 52.6% in the third quarter. Huntington National Bank now owns 238 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 82 shares during the period. Finally, Aster Capital Management DIFC Ltd raised its holdings in shares of Standex International by 500.0% in the third quarter. Aster Capital Management DIFC Ltd now owns 252 shares of the industrial products company’s stock valued at $53,000 after buying an additional 210 shares during the last quarter. 90.35% of the stock is owned by institutional investors and hedge funds.

About Standex International

Standex International Corporation, together with subsidiaries, engages in the manufacture and sale of various products and services for commercial and industrial markets in the United States and internationally. It operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.