Insider Selling: Standex International Corporation (NYSE:SXI) CEO Sells 16,000 Shares of Stock

Key Points

• Standex International Corporation CEO David A. Dunbar sold 16,000 shares of stock at an average price of $200.00, totaling $3.2 million, which resulted in a 12.16% reduction in his ownership.
• The company recently reported $2.28 EPS for the quarter, surpassing analyst estimates and showing a 23.2% year-over-year revenue increase.
• Standex International declared a $0.32 quarterly dividend, with an annualized yield of 0.6%, affecting shareholders of record on August 8th.

Standex International Corporation (NYSE:SXI - Get Free Report) CEO David A. Dunbar sold 16,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $200.00, for a total value of $3,200,000.00. Following the sale, the chief executive officer directly owned 115,576 shares in the company, valued at approximately $23,115,200. This trade represents a 12.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Standex International Stock Up 1.8%

NYSE:SXI traded up $3.59 during midday trading on Tuesday, reaching $207.53. 5,327 shares of the stock traded hands, compared to its average volume of 90,977. The business has a 50-day moving average of $168.58 and a two-hundred day moving average of $164.69. The stock has a market capitalization of $2.50 billion, a PE ratio of 44.33, a price-to-earnings-growth ratio of 2.58 and a beta of 1.11. Standex International Corporation has a 12-month low of $128.85 and a 12-month high of $212.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.10 and a current ratio of 2.88.

Standex International (NYSE:SXI - Get Free Report) last announced its earnings results on Thursday, July 31st. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.18. Standex International had a net margin of 7.06% and a return on equity of 13.92%. The business had revenue of $222.05 million for the quarter, compared to analyst estimates of $214.44 million. During the same quarter last year, the business earned $1.76 earnings per share. The company's revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities analysts forecast that Standex International Corporation will post 7.9 earnings per share for the current fiscal year.

Standex International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be issued a $0.32 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.28 annualized dividend and a dividend yield of 0.6%. Standex International's dividend payout ratio is presently 27.59%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SXI. Wasatch Advisors LP increased its holdings in Standex International by 62.4% during the 2nd quarter. Wasatch Advisors LP now owns 866,830 shares of the industrial products company's stock valued at $135,642,000 after acquiring an additional 332,941 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Standex International by 636.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 240,623 shares of the industrial products company's stock worth $38,796,000 after purchasing an additional 207,961 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Standex International by 1,619.8% during the first quarter. Voya Investment Management LLC now owns 130,860 shares of the industrial products company's stock worth $21,119,000 after purchasing an additional 123,251 shares in the last quarter. Raymond James Financial Inc. raised its holdings in Standex International by 131.1% in the first quarter. Raymond James Financial Inc. now owns 139,589 shares of the industrial products company's stock valued at $22,528,000 after acquiring an additional 79,181 shares in the last quarter. Finally, Anchor Capital Management Company LLC bought a new stake in Standex International during the first quarter valued at $9,102,000. Institutional investors and hedge funds own 90.35% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wall Street Zen downgraded Standex International from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Barrington Research restated an "outperform" rating and issued a $220.00 target price on shares of Standex International in a research note on Tuesday, July 29th. Roth Capital reissued a "buy" rating and set a $205.00 price objective (up from $175.00) on shares of Standex International in a report on Monday, August 4th. Finally, DA Davidson increased their price objective on Standex International from $200.00 to $219.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $223.50.

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.