Standex International Corporation (NYSE:SXI) to Issue Quarterly Dividend of $0.34

Standex International Corporation (NYSE:SXI) declared a quarterly dividend on Thursday, October 23rd. Investors of record on Friday, November 7th will be paid a dividend of 0.34 per share by the industrial products company on Friday, November 21st. This represents a c) annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, November 7th. This is a 6.3% increase from Standex International’s previous quarterly dividend of $0.32.

Standex International has a payout ratio of 14.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Standex International to earn $9.62 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 13.3%.

Standex International Trading Up 4.0%

Shares of SXI opened at $242.93 on Friday. Standex International has a twelve month low of $128.85 and a twelve month high of $243.41. The firm has a market capitalization of $2.94 billion, a P/E ratio of 52.35, a price-to-earnings-growth ratio of 2.98 and a beta of 1.15. The company has a current ratio of 2.88, a quick ratio of 2.10 and a debt-to-equity ratio of 0.78. The stock’s fifty day simple moving average is $212.62 and its 200 day simple moving average is $176.34.

Standex International (NYSE:SXI) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.18. Standex International had a return on equity of 13.92% and a net margin of 7.06%.The firm had revenue of $222.05 million during the quarter, compared to the consensus estimate of $214.44 million. During the same period in the prior year, the firm earned $1.76 EPS. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts forecast that Standex International will post 7.9 earnings per share for the current year.

Insider Activity

In related news, CEO David A. Dunbar sold 18,000 shares of Standex International stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $235.00, for a total value of $4,230,000.00. Following the completion of the transaction, the chief executive officer directly owned 103,973 shares in the company, valued at approximately $24,433,655. This trade represents a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Hansen sold 2,992 shares of Standex International stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $202.60, for a total value of $606,179.20. Following the completion of the transaction, the director 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 disclosure for this sale can be found here. Insiders have sold 47,992 shares of company stock valued at $10,401,179 over the last 90 days. Insiders own 2.52% of the company’s stock.

Hedge Funds Weigh In On Standex International

A number of hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its stake in Standex International by 6.8% in the third quarter. Nisa Investment Advisors LLC now owns 695 shares of the industrial products company’s stock worth $147,000 after purchasing an additional 44 shares in the last quarter. SG Americas Securities LLC grew its stake in Standex International by 3.5% in the second quarter. SG Americas Securities LLC now owns 1,992 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 68 shares in the last quarter. Whittier Trust Co. grew its stake in Standex International by 46.3% in the first quarter. Whittier Trust Co. now owns 218 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 69 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Standex International by 29.9% in 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 in the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in 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. 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.