Standex International (NYSE:SXI) Reaches New 52-Week High – Here’s What Happened

Standex International Corporation (NYSE:SXI)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $319.95 and last traded at $315.9040, with a volume of 5883 shares. The stock had previously closed at $315.17.

Analysts Set New Price Targets

SXI has been the topic of a number of recent analyst reports. Zacks Research raised shares of Standex International from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Barrington Research reiterated an “outperform” rating and set a $260.00 price target on shares of Standex International in a research report on Monday, March 9th. DA Davidson reissued a “buy” rating and issued a $323.00 price target on shares of Standex International in a research note on Monday, May 4th. Finally, Weiss Ratings upgraded shares of Standex International from a “hold (c)” rating to a “buy (b)” rating in a report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $289.67.

Standex International Price Performance

The company has a current ratio of 3.05, a quick ratio of 2.23 and a debt-to-equity ratio of 0.63. The stock has a market cap of $3.83 billion, a PE ratio of 38.49, a P/E/G ratio of 4.08 and a beta of 1.08. The company has a fifty day moving average of $275.56 and a 200-day moving average of $256.87.

Standex International (NYSE:SXI) last announced its earnings results on Wednesday, May 6th. The industrial products company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.01). The firm had revenue of $224.59 million for the quarter, compared to analysts’ expectations of $225.16 million. Standex International had a net margin of 11.18% and a return on equity of 14.38%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.95 earnings per share. Sell-side analysts expect that Standex International Corporation will post 8.58 EPS for the current fiscal year.

Standex International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a $0.34 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.4%. Standex International’s payout ratio is 16.57%.

Institutional Investors Weigh In On Standex International

A number of hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP increased its position in shares of Standex International by 61.3% during the fourth quarter. Wasatch Advisors LP now owns 1,369,859 shares of the industrial products company’s stock worth $297,643,000 after acquiring an additional 520,506 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Standex International by 23.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 392,820 shares of the industrial products company’s stock valued at $85,352,000 after purchasing an additional 74,599 shares during the period. Geode Capital Management LLC boosted its holdings in Standex International by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 281,603 shares of the industrial products company’s stock valued at $61,195,000 after purchasing an additional 798 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in Standex International by 73.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 223,581 shares of the industrial products company’s stock worth $48,580,000 after purchasing an additional 94,415 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Standex International by 3.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 207,608 shares of the industrial products company’s stock worth $43,992,000 after purchasing an additional 6,092 shares in the last quarter. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Standex International Company Profile

Standex International Corporation is a diversified global manufacturer specializing in food service equipment, engineered components, and industrial products. Operating across multiple markets, the company designs and produces commercial cooking and warming solutions, precision-engraved nameplates and decorative products, fluid power hydraulics, and magnetics-based electronics. These offerings serve a broad array of end markets, including quick-service restaurants, automotive, aerospace, medical devices, and consumer appliances.

With business organized into key segments—Food Service Equipment, Engraving & Decorating, Hydraulics, Industrial Electronics, and Technical Graphical Solutions—Standex delivers a combination of proprietary technology, automated manufacturing processes, and custom engineering services.