Standex International (NYSE:SXI) CEO Sells $2,365,000.00 in Stock

Key Points

• Standex International CEO David Dunbar sold 11,000 shares at an average price of $215.00, resulting in a total transaction of approximately $2.37 million, which represents an 8.27% decrease in his shareholding.
• The company recently reported a 23.2% year-over-year increase in revenue, with quarterly earnings per share (EPS) of $2.28, surpassing analyst expectations.
• Standex International declared a quarterly dividend of $0.32, reflecting an annual yield of 0.6%, with a payout ratio of 27.59%.

Standex International Corporation (NYSE:SXI - Get Free Report) CEO David A. Dunbar sold 11,000 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $215.00, for a total transaction of $2,365,000.00. Following the completion of the sale, the chief executive officer directly owned 121,973 shares in the company, valued at approximately $26,224,195. This trade represents a 8.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Standex International Stock Performance

Standex International stock traded up $0.79 during midday trading on Monday, reaching $206.73. 66,823 shares of the stock traded hands, compared to its average volume of 90,730. Standex International Corporation has a fifty-two week low of $128.85 and a fifty-two week high of $215.77. The company has a current ratio of 2.88, a quick ratio of 2.10 and a debt-to-equity ratio of 0.78. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 44.55, a PEG ratio of 2.63 and a beta of 1.12. The firm has a fifty day moving average price of $191.70 and a two-hundred day moving average price of $167.79.

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

Standex International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.32 dividend. The ex-dividend date of this dividend was 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 Trading of Standex International

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP raised 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 worth $135,642,000 after buying an additional 332,941 shares during the period. Allspring Global Investments Holdings LLC raised its holdings 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 valued at $38,796,000 after acquiring an additional 207,961 shares during the period. Voya Investment Management LLC lifted its position in shares of Standex International by 1,619.8% in the 1st quarter. Voya Investment Management LLC now owns 130,860 shares of the industrial products company's stock valued at $21,119,000 after acquiring an additional 123,251 shares in the last quarter. Raymond James Financial Inc. raised its holdings in shares of Standex International by 131.1% during the first quarter. Raymond James Financial Inc. now owns 139,589 shares of the industrial products company's stock worth $22,528,000 after acquiring an additional 79,181 shares in the last quarter. Finally, Anchor Capital Management Company LLC purchased a new position in Standex International in the first quarter valued at about $9,102,000. 90.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SXI shares. Wall Street Zen cut shares of 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 set a $220.00 price target on shares of Standex International in a research report on Tuesday, July 29th. Roth Capital reaffirmed a "buy" rating and issued a $205.00 price target (up from $175.00) on shares of Standex International in a research note on Monday, August 4th. Finally, DA Davidson raised their price objective on shares of Standex International from $200.00 to $219.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Standex International has a consensus rating of "Buy" and an average target price 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.