Standex International (NYSE:SXI) Director Sells $235,199.24 in Stock

Key Points

• Standex International Director Charles Cannon Jr. sold 908 shares for about $235,199 at an average price of $259.03, reducing his stake by 31.34% to 1,989 shares.
• For the latest quarter, Standex reported EPS of $2.41, beating estimates of $2.34, and revenue of $232.57 million, up 7% year over year. The company raised its quarterly dividend from $0.34 to $0.36 per share.
• Shares fell $18.87 to $232.55 on Thursday. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $304.

Standex International Corporation (NYSE:SXI - Get Free Report) Director Charles Cannon, Jr. sold 908 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $259.03, for a total transaction of $235,199.24. Following the transaction, the director owned 1,989 shares of the company's stock, valued at $515,210.67. This trade represents a 31.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Standex International Price Performance

Shares of NYSE:SXI traded down $18.87 on Thursday, reaching $232.55. The company's stock had a trading volume of 192,105 shares, compared to its average volume of 169,336. The company has a 50-day simple moving average of $270.50 and a 200 day simple moving average of $277.72. Standex International Corporation has a 52-week low of $215.62 and a 52-week high of $363.89. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.30 and a current ratio of 3.19. The company has a market cap of $2.81 billion, a P/E ratio of 24.74, a PEG ratio of 2.83 and a beta of 1.07.

Standex International (NYSE:SXI - Get Free Report) last announced its earnings results on Thursday, October 29th. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.07. Standex International had a net margin of 12.54% and a return on equity of 14.84%. The firm had revenue of $232.57 million for the quarter, compared to analysts' expectations of $229.65 million. During the same period in the prior year, the company earned $1.99 EPS. The business's revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Standex International Corporation will post 10.18 EPS for the current fiscal year.

Standex International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, November 6th. This is a positive change from Standex International's previous quarterly dividend of $0.34. Standex International's dividend payout ratio is 14.47%.

Institutional Investors Weigh In On Standex International

A number of institutional investors and hedge funds have recently modified their holdings of SXI. BlackRock Inc. bought a new position in shares of Standex International during the second quarter valued at approximately $640,120,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Standex International during the 2nd quarter valued at $149,891,000. Bank of New York Mellon Corp bought a new stake in Standex International during the 2nd quarter valued at $65,337,000. Conestoga Capital Advisors LLC bought a new stake in Standex International during the 3rd quarter valued at $16,832,000. Finally, Bank of America Corp DE purchased a new position in shares of Standex International in the 2nd quarter valued at $13,066,000. 90.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on SXI shares. JPMorgan Chase & Co. initiated coverage on Standex International in a report on Wednesday, October 14th. They set a "neutral" rating and a $320.00 price target on the stock. Weiss Ratings cut shares of Standex International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, September 18th. Finally, DA Davidson reiterated a "buy" rating and set a $350.00 price target on shares of Standex International in a report on Thursday, August 20th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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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