Standex International (NYSE:SXI) Cut to "Hold" at Wall Street Zen

Key Points

• Standex International (NYSE:SXI) was downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment regarding the stock.
• Despite the downgrade, the company reported strong financial performance, with earnings per share of $2.28, exceeding estimates by $0.18, and a revenue increase of 23.2% year-over-year.
• Institutional investors have been active, with significant increases in holdings from firms like Whipplewood Advisors, which raised its stake by 965% in the first quarter.

Wall Street Zen lowered shares of Standex International (NYSE:SXI - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Other equities analysts have also recently issued research reports about the company. DA Davidson decreased their price target on Standex International from $207.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Barrington Research reissued an "outperform" rating and set a $220.00 price target on shares of Standex International in a research report on Tuesday, July 29th. Finally, Roth Capital raised Standex International to a "strong-buy" rating in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $223.50.

Standex International Price Performance

SXI stock traded up $5.25 during trading on Friday, hitting $192.30. The stock had a trading volume of 74,774 shares, compared to its average volume of 87,400. The company's 50 day moving average price is $159.51 and its two-hundred day moving average price is $164.11. Standex International has a 1-year low of $128.85 and a 1-year high of $212.65. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 41.46, a price-to-earnings-growth ratio of 2.32 and a beta of 1.11. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.56 and a current ratio of 3.40.

Standex International (NYSE:SXI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The industrial products company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $2.10 by $0.18. Standex International had a net margin of 7.06% and a return on equity of 14.15%. The company had revenue of $222.05 million during the quarter, compared to the consensus estimate of $214.44 million. During the same quarter in the prior year, the company posted $1.76 EPS. The company's quarterly revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts forecast that Standex International will post 7.9 EPS for the current fiscal year.

Standex International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a $0.32 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.7%. Standex International's dividend payout ratio (DPR) is 27.59%.

Insider Buying and Selling

In other Standex International news, Director Barbara Joanne Edwards sold 355 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $156.13, for a total transaction of $55,426.15. Following the completion of the sale, the director directly owned 5,259 shares in the company, valued at approximately $821,087.67. This trade represents a 6.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Standex International

Institutional investors have recently bought and sold shares of the business. American Century Companies Inc. raised its stake in shares of Standex International by 16.4% during the 4th quarter. American Century Companies Inc. now owns 26,769 shares of the industrial products company's stock worth $5,006,000 after purchasing an additional 3,770 shares in the last quarter. LPL Financial LLC raised its stake in shares of Standex International by 21.6% during the 4th quarter. LPL Financial LLC now owns 4,807 shares of the industrial products company's stock worth $899,000 after purchasing an additional 853 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Standex International by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 1,418,703 shares of the industrial products company's stock worth $265,283,000 after purchasing an additional 15,518 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Standex International by 65.1% during the 4th quarter. JPMorgan Chase & Co. now owns 80,031 shares of the industrial products company's stock worth $14,965,000 after purchasing an additional 31,560 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Standex International during the 4th quarter worth about $7,122,000. 90.35% of the stock is currently owned by institutional investors and hedge funds.

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.