Standex International (NYSE:SXI) VP Max Arets Acquires 45 Shares

Key Points

• Insider purchase: Standex International VP Max Arets bought 45 shares at an average price of $273.96, investing $12,328.20 and increasing his ownership by 2.82% to 1,641 shares.
• Quarterly performance: Standex reported earnings of $2.45 per share, exceeding estimates by $0.10, while revenue rose 2.8% year over year to $228.25 million.
• Stock outlook: Shares recently traded at $269.42, and analysts maintain a “Moderate Buy” consensus with an average price target of $298.67. Institutional investors own approximately 90.35% of the company.

Standex International Corporation (NYSE:SXI - Get Free Report) VP Max Arets acquired 45 shares of the company's stock in a transaction dated Friday, September 4th. The shares were bought at an average price of $273.96 per share, for a total transaction of $12,328.20. Following the purchase, the vice president owned 1,641 shares in the company, valued at approximately $449,568.36. This represents a 2.82% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Standex International Trading Down 0.8%

Shares of NYSE:SXI traded down $2.21 during midday trading on Wednesday, hitting $269.42. 53,887 shares of the stock were exchanged, compared to its average volume of 172,796. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 31.15, a P/E/G ratio of 3.08 and a beta of 1.04. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.84 and a current ratio of 2.40. Standex International Corporation has a 12 month low of $198.74 and a 12 month high of $363.89. The business's 50-day moving average price is $308.48 and its 200 day moving average price is $285.49.

Standex International (NYSE:SXI - Get Free Report) last announced its earnings results on Friday, July 31st. The industrial products company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.35 by $0.10. Standex International had a net margin of 11.73% and a return on equity of 14.47%. The company had revenue of $228.25 million during the quarter, compared to the consensus estimate of $226.47 million. During the same quarter in the prior year, the company posted $2.28 earnings per share. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. Analysts predict that Standex International Corporation will post 9.96 earnings per share for the current year.

Standex International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a yield of 0.5%. Standex International's dividend payout ratio is currently 15.69%.

Institutional Investors Weigh In On Standex International

Several hedge funds and other institutional investors have recently modified their holdings of SXI. California State Teachers Retirement System grew its holdings in Standex International by 33,144.4% during the 2nd quarter. California State Teachers Retirement System now owns 4,855,013 shares of the industrial products company's stock worth $1,736,492,000 after acquiring an additional 4,840,409 shares during the last quarter. BlackRock Inc. bought a new position in Standex International in the second quarter valued at approximately $640,120,000. Wasatch Advisors LP boosted its stake in shares of Standex International by 61.3% during the fourth quarter. Wasatch Advisors LP now owns 1,369,859 shares of the industrial products company's stock valued at $297,643,000 after purchasing an additional 520,506 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Standex International during the second quarter valued at $149,891,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Standex International during the second quarter worth about $65,337,000. Institutional investors and hedge funds own 90.35% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SXI shares. Zacks Research upgraded Standex International from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. DA Davidson reiterated a "buy" rating and issued a $350.00 price target on shares of Standex International in a research note on Thursday, August 20th. Finally, Weiss Ratings upgraded shares of Standex International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, September 3rd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Standex International presently has an average rating of "Moderate Buy" and a consensus price target of $298.67.

Standex International Company Profile

Standex International Corporation is a diversified global manufacturer specializing in food service equipment, engineered components, and industrial products. Operating across multiple markets, the company designs and produces commercial cooking and warming solutions, precision-engraved nameplates and decorative products, fluid power hydraulics, and magnetics-based electronics. These offerings serve a broad array of end markets, including quick-service restaurants, automotive, aerospace, medical devices, and consumer appliances.

With business organized into key segments—Food Service Equipment, Engraving & Decorating, Hydraulics, Industrial Electronics, and Technical Graphical Solutions—Standex delivers a combination of proprietary technology, automated manufacturing processes, and custom engineering services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.