Standex International (NYSE:SXI) Sets New 52-Week High - Here's What Happened

Key Points

• Standex International's shares reached a new 52-week high, trading at $219.47, with a recent closing price of $218.87.
• The company reported a strong revenue increase of 23.2% year-over-year, achieving $2.28 EPS for the last quarter, surpassing analysts' expectations.
• Five analysts have rated the stock as a "Buy," while the average target price is set at $223.50, signaling positive market sentiment.

Standex International Corporation (NYSE:SXI - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $219.47 and last traded at $218.87, with a volume of 39219 shares. The stock had previously closed at $213.31.

Analysts Set New Price Targets

SXI has been the subject of a number of research analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Standex International in a research report on Wednesday. Roth Capital reissued a "buy" rating and set a $205.00 target price (up previously from $175.00) on shares of Standex International in a research report on Monday, August 4th. Barrington Research reissued an "outperform" rating and set a $220.00 target price on shares of Standex International in a research report on Tuesday, July 29th. DA Davidson upped their price target on Standex International from $200.00 to $219.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Finally, Wall Street Zen cut Standex International from a "buy" rating to a "hold" rating in a report on Saturday. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $223.50.

Standex International Stock Performance

The company has a market capitalization of $2.65 billion, a PE ratio of 47.29, a PEG ratio of 2.76 and a beta of 1.15. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.10 and a current ratio of 2.88. The company has a 50 day moving average price of $202.59 and a 200 day moving average price of $170.46.

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

Standex International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, August 8th. Standex International's dividend payout ratio is currently 27.59%.

Insider Buying and Selling at Standex International

In other Standex International news, Director Thomas J. Hansen sold 2,992 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $202.60, for a total value of $606,179.20. Following the sale, the director directly owned 8,439 shares of the company's stock, valued at $1,709,741.40. This trade represents a 26.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David A. Dunbar sold 11,000 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $215.00, for a total value 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 $26,224,195. This represents a 8.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,992 shares of company stock worth $6,171,179 over the last ninety days. 2.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in Standex International by 1.6% during the first quarter. Principal Financial Group Inc. now owns 64,197 shares of the industrial products company's stock valued at $10,361,000 after buying an additional 1,003 shares in the last quarter. Champlain Investment Partners LLC boosted its position in shares of Standex International by 1.0% in the 1st quarter. Champlain Investment Partners LLC now owns 590,551 shares of the industrial products company's stock valued at $95,309,000 after purchasing an additional 6,121 shares during the period. Invesco Ltd. boosted its position in shares of Standex International by 30.2% in the 1st quarter. Invesco Ltd. now owns 73,944 shares of the industrial products company's stock valued at $11,934,000 after purchasing an additional 17,139 shares during the period. Fifth Third Bancorp boosted its position in shares of 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 purchasing an additional 157 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Standex International by 16,968.6% in the 1st quarter. GAMMA Investing LLC now owns 32,601 shares of the industrial products company's stock valued at $5,261,000 after purchasing an additional 32,410 shares during the period. Institutional investors own 90.35% of the company's stock.

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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