Standex International (NYSE:SXI) Trading Up 6.2% on Earnings Beat

Key Points

• Standex International's stock surged 6.2% following a robust earnings report, with earnings per share at $2.28, exceeding expectations of $2.10.
• The company announced a quarterly dividend of $0.32, set to be paid on August 22nd, with a yield of 0.7%.
• Analysts have positive outlooks for Standex International, with five rating the stock as a "buy" and a consensus target price of $223.33.

Standex International Corporation (NYSE:SXI - Get Free Report)'s share price was up 6.2% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $175.73 and last traded at $175.04. Approximately 16,749 shares changed hands during trading, a decline of 80% from the average daily volume of 84,589 shares. The stock had previously closed at $164.74.

The industrial products company reported $2.28 earnings per share for the quarter, beating analysts' consensus estimates of $2.10 by $0.18. Standex International had a return on equity of 13.39% and a net margin of 8.09%. The company had revenue of $222.05 million for the quarter, compared to the consensus estimate of $214.44 million. During the same quarter last year, the company earned $1.76 earnings per share. The firm's revenue for the quarter was up 23.2% compared to the same quarter last year.

Standex International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be paid a $0.32 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.28 dividend on an annualized basis and a yield of 0.7%. Standex International's dividend payout ratio (DPR) is 25.30%.

Analysts Set New Price Targets

A number of research firms have commented on SXI. Barrington Research reiterated an "outperform" rating and issued a $220.00 price target on shares of Standex International in a research note on Tuesday. DA Davidson reduced their price target on Standex International from $207.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Wall Street Zen upgraded Standex International from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Finally, Roth Capital raised Standex International to a "strong-buy" rating in a report on Wednesday, April 9th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $223.33.

Insider Buying and Selling

In other Standex International news, Director Barbara Joanne Edwards sold 355 shares of Standex International stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $156.13, for a total value of $55,426.15. Following the sale, the director owned 5,259 shares in the company, valued at $821,087.67. The trade was a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Standex International

Several institutional investors and hedge funds have recently modified their holdings of the company. Whittier Trust Co. increased its position in Standex International by 46.3% during the first quarter. Whittier Trust Co. now owns 218 shares of the industrial products company's stock worth $35,000 after buying an additional 69 shares during the period. TD Private Client Wealth LLC raised its holdings in Standex International by 29.9% during the first quarter. TD Private Client Wealth LLC now owns 330 shares of the industrial products company's stock worth $53,000 after purchasing an additional 76 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Standex International by 2.2% in the second quarter. Maryland State Retirement & Pension System now owns 3,548 shares of the industrial products company's stock worth $555,000 after acquiring an additional 76 shares during the last quarter. Moody National Bank Trust Division raised its holdings in shares of Standex International by 5.4% in the second quarter. Moody National Bank Trust Division now owns 1,492 shares of the industrial products company's stock worth $233,000 after acquiring an additional 77 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Standex International by 25.9% in the first quarter. Versant Capital Management Inc now owns 379 shares of the industrial products company's stock worth $61,000 after acquiring an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 90.35% of the company's stock.

Standex International Stock Performance

The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.11 and a beta of 1.06. The stock has a fifty day moving average price of $157.97 and a two-hundred day moving average price of $164.45. The company has a quick ratio of 2.56, a current ratio of 3.40 and a debt-to-equity ratio of 0.84.

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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