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

Standex International Corporation (NYSE:SXI) Director Charles Cannon, Jr. sold 908 shares of the business’s 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 sale, the director directly owned 1,989 shares of the company’s stock, valued at $515,210.67. This represents a 31.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Standex International Stock Down 1.5%

NYSE SXI opened at $229.27 on Friday. Standex International Corporation has a one year low of $215.62 and a one year high of $363.89. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.30 and a current ratio of 3.19. The company has a market capitalization of $2.77 billion, a P/E ratio of 24.39, a P/E/G ratio of 2.82 and a beta of 1.07. The stock has a 50 day moving average price of $267.57 and a 200-day moving average price of $277.56.

Standex International (NYSE:SXI) last issued its earnings results on Thursday, October 29th. The industrial products company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. The firm had revenue of $232.57 million during the quarter, compared to the consensus estimate of $229.65 million. Standex International had a net margin of 12.54% and a return on equity of 14.84%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.99 earnings per share. As a group, equities analysts predict that Standex International Corporation will post 10.35 EPS for the current fiscal year.

Standex International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, November 6th. This is a positive change from Standex International’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a yield of 0.6%. Standex International’s dividend payout ratio (DPR) is 14.47%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Standex International

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

About Standex International

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.