Standex International (NYSE:SXI) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of Standex International (NYSE:SXI) from a buy rating to a hold rating in a report released on Monday.

Several other equities analysts have also issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Standex International in a report on Wednesday, October 8th. DA Davidson reiterated a “buy” rating and set a $272.00 price objective on shares of Standex International in a research note on Monday, November 24th. Barrington Research reissued an “outperform” rating and issued a $260.00 target price on shares of Standex International in a report on Thursday, November 20th. Finally, Roth Capital increased their target price on Standex International from $205.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $264.00.

Standex International Stock Performance

Shares of SXI stock opened at $230.28 on Monday. The company’s fifty day moving average price is $234.98 and its 200-day moving average price is $200.60. The stock has a market cap of $2.79 billion, a PE ratio of 52.82 and a beta of 1.10. The company has a current ratio of 2.87, a quick ratio of 2.07 and a debt-to-equity ratio of 0.77. Standex International has a 12 month low of $128.85 and a 12 month high of $252.78.

Standex International (NYSE:SXI) last issued its quarterly earnings results on Friday, October 31st. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. Standex International had a net margin of 6.29% and a return on equity of 14.20%. The company had revenue of $217.43 million during the quarter, compared to analysts’ expectations of $215.96 million. During the same period last year, the company posted $1.84 EPS. Standex International’s revenue was up 27.5% on a year-over-year basis. On average, equities analysts expect that Standex International will post 7.9 EPS for the current fiscal year.

Standex International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 7th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, November 7th. This is a positive change from Standex International’s previous quarterly dividend of $0.32. Standex International’s dividend payout ratio is 31.19%.

Insiders Place Their Bets

In other Standex International news, CEO David A. Dunbar sold 18,000 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $235.00, for a total transaction of $4,230,000.00. Following the transaction, the chief executive officer owned 103,973 shares in the company, valued at approximately $24,433,655. This represents a 14.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ademir Sarcevic sold 1,823 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $230.12, for a total transaction of $419,508.76. Following the sale, the chief financial officer directly owned 9,341 shares in the company, valued at approximately $2,149,550.92. The trade was a 16.33% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 32,473 shares of company stock valued at $7,389,509. Company insiders own 2.52% of the company’s stock.

Institutional Investors Weigh In On Standex International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. purchased a new stake in Standex International during the 3rd quarter valued at $272,000. CANADA LIFE ASSURANCE Co grew its holdings in shares of Standex International by 2.4% in the third quarter. CANADA LIFE ASSURANCE Co now owns 11,671 shares of the industrial products company’s stock worth $2,425,000 after acquiring an additional 268 shares during the period. Verition Fund Management LLC bought a new stake in shares of Standex International in the third quarter worth $212,000. Susquehanna Fundamental Investments LLC purchased a new stake in Standex International during the third quarter valued at $649,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in Standex International by 4,735.9% in the third quarter. Public Employees Retirement System of Ohio now owns 7,012 shares of the industrial products company’s stock valued at $1,486,000 after acquiring an additional 6,867 shares during the period. Hedge funds and other institutional investors own 90.35% of the company’s stock.

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.