Standex International (NYSE:SXI) Issues Quarterly Earnings Results

Key Points

• Standex International beat quarterly earnings expectations, reporting EPS of $2.41 versus the analyst consensus of $2.34. The company posted a 14.47% return on equity and an 11.73% net margin.
• The company increased its quarterly dividend to $0.36 per share from $0.34, equating to an annualized dividend of $1.44 and a 0.6% yield.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and a $304 average price target, although JPMorgan initiated coverage with a neutral rating and CEO David Dunbar sold 13,000 shares under a pre-arranged trading plan.

Standex International (NYSE:SXI - Get Free Report) released its earnings results on Thursday. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.34 by $0.07, Zacks reports. Standex International had a return on equity of 14.47% and a net margin of 11.73%.

Standex International Price Performance

NYSE SXI traded up $3.40 during midday trading on Thursday, hitting $247.95. The company had a trading volume of 142,507 shares, compared to its average volume of 169,039. The company has a market capitalization of $3.04 billion, a PE ratio of 28.60, a P/E/G ratio of 2.68 and a beta of 1.07. The company has a current ratio of 2.40, a quick ratio of 1.84 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average price of $276.27 and a 200-day moving average price of $277.53. Standex International has a twelve month low of $215.62 and a twelve month high of $363.89.

Standex International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be paid a dividend of $0.36 per share. This is a boost from Standex International's previous quarterly dividend of $0.34. The ex-dividend date is Friday, November 6th. This represents a $1.44 dividend on an annualized basis and a yield of 0.6%. Standex International's dividend payout ratio is 15.69%.

Insider Buying and Selling at Standex International

In other news, CEO David Dunbar sold 13,000 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $290.82, for a total transaction of $3,780,660.00. Following the sale, the chief executive officer directly owned 75,973 shares of the company's stock, valued at approximately $22,094,467.86. This represents a 14.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 13,100 shares of company stock worth $3,810,182. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Standex International in a research note on Wednesday, October 14th. They issued a "neutral" rating and a $320.00 price target for the company. DA Davidson restated a "buy" rating and set a $350.00 price objective on shares of Standex International in a report on Thursday, August 20th. Finally, Weiss Ratings downgraded Standex International from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, September 18th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $304.00.

About Standex International

Standex International Corporation NYSE: SXI is a diversified industrial manufacturer that develops and produces specialized equipment, components and engineered products for customers in a range of commercial and industrial markets. The company serves original equipment manufacturers and other businesses through a portfolio of operations focused on applications requiring specialized technology, precision manufacturing and customized solutions.

Its businesses include Standex Electronics, which makes sensors, switches, relays, magnetic components and power magnetics; Standex Engraving, which provides engraved tooling, mold texturing and patterned rolls for plastics, packaging and other manufacturing applications; and Standex Engineering Technologies, which develops engineered components and systems for industrial and mobile equipment.

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