Standex International Corporation (SXI) To Go Ex-Dividend on November 8th
Standex International Corporation (NYSE:SXI) announced a quarterly dividend on Thursday, October 26th, RTT News reports. Investors of record on Thursday, November 9th will be paid a dividend of 0.18 per share by the industrial products company on Tuesday, November 28th. This represents a $0.72 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, November 8th. This is an increase from Standex International Corporation’s previous quarterly dividend of $0.16.
Standex International Corporation has raised its dividend by an average of 19.5% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Standex International Corporation has a dividend payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Standex International Corporation to earn $5.91 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 12.2%.
Standex International Corporation (NYSE:SXI) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.17. The company had revenue of $214.40 million during the quarter, compared to the consensus estimate of $195.63 million. Standex International Corporation had a return on equity of 15.06% and a net margin of 5.83%. The firm’s revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.14 EPS.
Several analysts have recently issued reports on the company. Zacks Investment Research downgraded Standex International Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. FBR & Co reiterated a “buy” rating on shares of Standex International Corporation in a research note on Tuesday, July 18th. Finally, Sidoti downgraded Standex International Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Standex International Corporation presently has a consensus rating of “Hold” and a consensus target price of $108.50.
In related news, Director Gerald H. Fickenscher sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $94.64, for a total transaction of $189,280.00. Following the completion of the transaction, the director now owns 9,915 shares of the company’s stock, valued at approximately $938,355.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.
About Standex International Corporation
Standex International Corporation is a diversified manufacturing company. The Company is a manufacturer of a range of products and services for diverse commercial and industrial market segments. The Company has 11 operating segments, aggregated and organized into five segments: Food Service Equipment, Engraving, Engineering Technologies, Electronics and Hydraulics.
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