Standex International (NYSE:SXI) CEO Sells $4,230,000.00 in Stock

Key Points

• Standex International CEO David Dunbar sold 18,000 shares of stock for approximately $4.23 million, reducing his ownership by 14.76%.
• The company reported a 23.2% increase in year-over-year revenue, generating $222.05 million, surpassing the consensus estimate of $214.44 million.
• Standex International has a dividend yield of 0.5% and declared a quarterly dividend of $0.32, upholding a payout ratio of 27.59%.

Standex International Corporation (NYSE:SXI - Get Free Report) CEO David Dunbar sold 18,000 shares of the company's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $235.00, for a total value of $4,230,000.00. Following the transaction, the chief executive officer directly owned 103,973 shares in the company, valued at approximately $24,433,655. The trade was a 14.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Standex International Stock Down 0.9%

Shares of SXI stock traded down $2.10 during trading hours on Friday, reaching $233.26. 125,343 shares of the company's stock were exchanged, compared to its average volume of 95,215. The stock's 50 day moving average is $208.62 and its 200-day moving average is $173.33. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 50.27, a P/E/G ratio of 2.98 and a beta of 1.15. The company has a current ratio of 2.88, a quick ratio of 2.10 and a debt-to-equity ratio of 0.78. Standex International Corporation has a fifty-two week low of $128.85 and a fifty-two week high of $236.06.

Standex International (NYSE:SXI - Get Free Report) last released 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 return on equity of 13.92% and a net margin of 7.06%.The firm had revenue of $222.05 million for the quarter, compared to the consensus estimate of $214.44 million. During the same period in the prior year, the firm earned $1.76 EPS. The firm's revenue was up 23.2% on a year-over-year basis. Analysts predict that Standex International Corporation will post 7.9 earnings per share for the current fiscal year.

Standex International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, August 8th. Standex International's dividend payout ratio is presently 27.59%.

Analysts Set New Price Targets

SXI has been the topic of several research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Standex International in a research report on Wednesday, October 8th. Wall Street Zen downgraded Standex International from a "buy" rating to a "hold" rating in a research report on Saturday, October 4th. DA Davidson upped their target price on Standex International from $200.00 to $219.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Barrington Research reaffirmed an "outperform" rating and issued a $220.00 price target on shares of Standex International in a report on Tuesday, July 29th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $205.00 price target (up from $175.00) on shares of Standex International in a report on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Standex International presently has an average rating of "Moderate Buy" and an average price target of $223.50.

Institutional Investors Weigh In On Standex International

Hedge funds have recently modified their holdings of the company. Whittier Trust Co. boosted its stake in shares of Standex International by 46.3% during the 1st quarter. Whittier Trust Co. now owns 218 shares of the industrial products company's stock worth $35,000 after acquiring an additional 69 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Standex International by 173.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 309 shares of the industrial products company's stock worth $50,000 after acquiring an additional 196 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Standex International by 29.9% during the 1st quarter. TD Private Client Wealth LLC now owns 330 shares of the industrial products company's stock worth $53,000 after acquiring an additional 76 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Standex International by 20.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 651 shares of the industrial products company's stock worth $102,000 after acquiring an additional 110 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Standex International by 25.2% in the 1st quarter. Fifth Third Bancorp now owns 780 shares of the industrial products company's stock valued at $126,000 after buying an additional 157 shares in the last quarter. 90.35% of the stock is owned by hedge funds and other institutional investors.

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.

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