Standex International (NYSE:SXI) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Standex International (NYSE:SXI) from a buy rating to a hold rating in a research note released on Saturday.

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

Standex International Price Performance

Shares of SXI opened at $242.05 on Friday. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 52.17, a PEG ratio of 3.07 and a beta of 1.17. The firm’s fifty day simple moving average is $228.95 and its 200-day simple moving average is $194.42. Standex International has a twelve month low of $128.85 and a twelve month high of $247.16. The company has a current ratio of 2.88, a quick ratio of 2.10 and a debt-to-equity ratio of 0.78.

Standex International (NYSE:SXI) last posted its earnings results on Friday, October 31st. The industrial products company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.94 by $0.05. The firm had revenue of $217.43 million for the quarter, compared to analyst estimates of $215.96 million. Standex International had a return on equity of 13.92% and a net margin of 7.06%.Standex International’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.84 earnings per share. Equities analysts forecast that Standex International will post 7.9 EPS for the current fiscal year.

Standex International Increases Dividend

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

Insider Activity

In other news, CFO Ademir Sarcevic sold 1,823 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $230.12, for a total transaction of $419,508.76. Following the transaction, the chief financial officer directly owned 9,341 shares in the company, valued at $2,149,550.92. The trade was a 16.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David A. Dunbar sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $235.00, for a total transaction of $4,230,000.00. Following the completion of the sale, the chief executive officer owned 103,973 shares of the company’s stock, valued at approximately $24,433,655. The trade was a 14.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 32,473 shares of company stock worth $7,389,509 in the last ninety days. 2.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Standex International

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP grew its stake in shares of Standex International by 62.4% during the 2nd quarter. Wasatch Advisors LP now owns 866,830 shares of the industrial products company’s stock worth $135,642,000 after purchasing an additional 332,941 shares during the period. Champlain Investment Partners LLC lifted its stake in shares of Standex International by 2.1% in the second quarter. Champlain Investment Partners LLC now owns 603,095 shares of the industrial products company’s stock valued at $94,372,000 after purchasing an additional 12,544 shares during the period. Geode Capital Management LLC boosted its holdings in Standex International by 2.7% during the second quarter. Geode Capital Management LLC now owns 286,756 shares of the industrial products company’s stock worth $44,877,000 after buying an additional 7,522 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Standex International by 1.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 245,244 shares of the industrial products company’s stock worth $51,778,000 after buying an additional 4,621 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Standex International by 2.1% during the 1st quarter. Northern Trust Corp now owns 209,316 shares of the industrial products company’s stock valued at $33,782,000 after acquiring an additional 4,389 shares during the period. Institutional investors and hedge funds own 90.35% of the company’s stock.

Standex International Company Profile

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.