Standex International (NYSE:SXI) Director Charles Cannon, Jr. Sells 908 Shares of Company Stock

Standex International Corporation (NYSE:SXI) Director Charles Cannon, Jr. sold 908 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $259.03, for a total value of $235,199.24. Following the completion of the transaction, the director directly owned 1,989 shares of the company’s stock, valued at approximately $515,210.67. The trade was a 31.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Standex International Price Performance

Standex International stock opened at $232.55 on Friday. The business has a 50 day simple moving average of $269.05 and a 200 day simple moving average of $277.63. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.19 and a quick ratio of 2.30. The company has a market capitalization of $2.81 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 2.74 and a beta of 1.07. Standex International Corporation has a one year low of $215.62 and a one year high of $363.89.

Standex International (NYSE:SXI) last announced its quarterly earnings results on Thursday, October 29th. The industrial products company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. The firm had revenue of $232.57 million for the quarter, compared to analysts’ expectations of $229.65 million. Standex International had a return on equity of 14.84% and a net margin of 12.54%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.99 earnings per share. On average, sell-side analysts forecast that Standex International Corporation will post 10.18 EPS for the current fiscal year.

Standex International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, November 6th. This is a positive change from Standex International’s previous quarterly dividend of $0.34. Standex International’s payout ratio is currently 14.47%.

Wall Street Analysts Forecast Growth

SXI has been the subject of several analyst reports. Weiss Ratings downgraded shares of Standex International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. DA Davidson restated a “buy” rating and issued a $350.00 price target on shares of Standex International in a research report on Thursday, August 20th. Finally, JPMorgan Chase & Co. began coverage on shares of Standex International in a research note on Wednesday, October 14th. They set a “neutral” rating and a $320.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $304.00.

Hedge Funds Weigh In On Standex International

A number of institutional investors and hedge funds have recently bought and sold shares of SXI. California State Teachers Retirement System increased its stake in shares of Standex International by 26.5% in the 1st quarter. California State Teachers Retirement System now owns 14,604 shares of the industrial products company’s stock valued at $3,722,000 after buying an additional 3,059 shares during the period. Jupiter Topco LLC bought a new stake in shares of Standex International during the second quarter worth $2,033,000. Castleark Management LLC acquired a new position in shares of Standex International during the second quarter valued at $5,175,000. The Manufacturers Life Insurance Company acquired a new position in shares of Standex International during the second quarter valued at $2,136,000. Finally, Bank of America Corp DE acquired a new position in shares of Standex International during the second quarter valued at $13,066,000. Institutional investors and hedge funds own 90.35% of the company’s stock.

Standex International Company Profile

Standex International Corporation (NYSE:SXI) is a diversified industrial manufacturer that develops and produces specialized equipment, components and engineered products for customers in a range of commercial and industrial markets. The company serves original equipment manufacturers and other businesses through a portfolio of operations focused on applications requiring specialized technology, precision manufacturing and customized solutions.

Its businesses include Standex Electronics, which makes sensors, switches, relays, magnetic components and power magnetics; Standex Engraving, which provides engraved tooling, mold texturing and patterned rolls for plastics, packaging and other manufacturing applications; and Standex Engineering Technologies, which develops engineered components and systems for industrial and mobile equipment.