Standex International (NYSE:SXI) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Standex International (NYSE:SXIGet Rating) from a hold rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. The brokerage currently has $108.00 target price on the industrial products company’s stock.

According to Zacks, “Standex International Corp. is a diversified manufacturer producing and marketing a wide variety of useful, quality products. The company enjoys a broad and well-balanced earnings base by virtue of its strong market position in selected areas of operation. (PRESS RELEASE) “

A number of other equities analysts have also weighed in on the company. StockNews.com assumed coverage on Standex International in a research note on Thursday, March 31st. They issued a strong-buy rating on the stock. Barrington Research upped their price objective on Standex International from $139.00 to $143.00 in a report on Friday, May 6th. Finally, William Blair upgraded Standex International from a market perform rating to an outperform rating in a report on Monday, May 9th.

Shares of NYSE SXI opened at $90.84 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.90 and a quick ratio of 2.16. Standex International has a one year low of $86.30 and a one year high of $121.44. The stock has a market capitalization of $1.10 billion, a PE ratio of 17.81, a P/E/G ratio of 1.11 and a beta of 1.13. The business’s fifty day moving average price is $100.00 and its 200-day moving average price is $104.91.

Standex International (NYSE:SXIGet Rating) last released its quarterly earnings data on Thursday, May 5th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.05. Standex International had a return on equity of 13.46% and a net margin of 8.54%. The company had revenue of $189.28 million for the quarter, compared to analyst estimates of $185.92 million. During the same period in the previous year, the company posted $1.19 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, equities analysts expect that Standex International will post 5.81 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 25th. Investors of record on Wednesday, May 11th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Tuesday, May 10th. Standex International’s dividend payout ratio is presently 20.39%.

Standex International announced that its Board of Directors has authorized a stock repurchase plan on Thursday, May 5th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 8.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other Standex International news, CFO Ademir Sarcevic sold 1,200 shares of the stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $91.84, for a total value of $110,208.00. Following the completion of the sale, the chief financial officer now owns 14,048 shares in the company, valued at approximately $1,290,168.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.87% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its position in shares of Standex International by 73.3% in the 4th quarter. Quadrant Capital Group LLC now owns 253 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 107 shares in the last quarter. NEXT Financial Group Inc raised its position in shares of Standex International by 34.7% in the 4th quarter. NEXT Financial Group Inc now owns 415 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 107 shares in the last quarter. Synovus Financial Corp raised its position in shares of Standex International by 2.3% in the 4th quarter. Synovus Financial Corp now owns 5,163 shares of the industrial products company’s stock worth $578,000 after acquiring an additional 116 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Standex International by 2.4% in the 4th quarter. Victory Capital Management Inc. now owns 5,306 shares of the industrial products company’s stock worth $587,000 after acquiring an additional 123 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Standex International by 2.4% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,462 shares of the industrial products company’s stock worth $546,000 after acquiring an additional 129 shares in the last quarter. Institutional investors and hedge funds own 88.39% of the company’s stock.

Standex International Company Profile (Get Rating)

Standex International Corporation, together with subsidiaries, manufactures and sells various products and services for commercial and industrial markets in the United States and internationally. The company operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.

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