Standex International (NYSE:SXI) Trading Up 6.2% Following Better-Than-Expected Earnings

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) rose 6.2% during trading on Friday following a better than expected earnings announcement. The company traded as high as $175.73 and last traded at $175.04. Approximately 16,749 shares were traded during mid-day 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 EPS for the quarter, beating the consensus estimate of $2.10 by $0.18. The company had revenue of $222.05 million for the quarter, compared to analyst estimates of $214.44 million. Standex International had a return on equity of 14.15% and a net margin of 7.06%. The firm's revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.76 EPS.

Standex International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a dividend of $0.32 per share. 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 presently 27.59%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SXI shares. Wall Street Zen lowered shares of Standex International from a "buy" rating to a "hold" rating in a report on Saturday. Barrington Research reissued an "outperform" rating and issued a $220.00 price objective on shares of Standex International in a research report on Tuesday, July 29th. DA Davidson increased their price objective on shares of Standex International from $200.00 to $219.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Roth Capital reiterated a "buy" rating and set a $205.00 price objective (up from $175.00) on shares of Standex International in a research note on Monday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $223.50.

Insider Buying and Selling

In related news, Director Barbara Joanne Edwards sold 355 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 5,259 shares in the company, valued at approximately $821,087.67. This represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SXI. Principal Financial Group Inc. boosted its holdings in shares of Standex International by 1.6% in 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 during the period. JPMorgan Chase & Co. raised its holdings in Standex International by 65.1% in the 4th quarter. JPMorgan Chase & Co. now owns 80,031 shares of the industrial products company's stock valued at $14,965,000 after buying an additional 31,560 shares during the last quarter. Cetera Investment Advisers raised its holdings in Standex International by 4.5% during the 4th quarter. Cetera Investment Advisers now owns 3,887 shares of the industrial products company's stock worth $727,000 after purchasing an additional 168 shares during the last quarter. Deutsche Bank AG grew its position in shares of Standex International by 46.5% during the 4th quarter. Deutsche Bank AG now owns 10,364 shares of the industrial products company's stock worth $1,938,000 after buying an additional 3,289 shares during the period. Finally, First Trust Advisors LP grew its position in Standex International by 16.8% in the 4th quarter. First Trust Advisors LP now owns 11,614 shares of the industrial products company's stock valued at $2,172,000 after purchasing an additional 1,673 shares during the period. 90.35% of the stock is currently owned by institutional investors.

Standex International Stock Performance

The company has a market cap of $2.34 billion, a P/E ratio of 41.84, a price-to-earnings-growth ratio of 2.32 and a beta of 1.11. The company has a quick ratio of 2.56, a current ratio of 3.40 and a debt-to-equity ratio of 0.84. The company's 50-day moving average is $159.51 and its two-hundred day moving average is $164.11.

Standex International Company Profile

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.