Standex International (NYSE:SXI) Releases Quarterly Earnings Results

Standex International (NYSE:SXI) announced its earnings results on Thursday. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.07, Zacks reports. Standex International had a return on equity of 14.47% and a net margin of 11.73%.

Standex International Trading Up 1.4%

SXI stock traded up $3.40 during mid-day trading on Thursday, reaching $247.95. The company had a trading volume of 142,507 shares, compared to its average volume of 169,039. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.40 and a quick ratio of 1.84. The company has a market capitalization of $3.04 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 2.68 and a beta of 1.07. The firm has a 50 day moving average of $276.27 and a 200 day moving average of $277.53. Standex International has a 12 month low of $215.62 and a 12 month high of $363.89.

Standex International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be paid a $0.36 dividend. The ex-dividend date is Friday, November 6th. This represents a $1.44 dividend on an annualized basis and a yield of 0.6%. This is an increase from Standex International’s previous quarterly dividend of $0.34. Standex International’s payout ratio is currently 15.69%.

Insider Activity at Standex International

In other news, CEO David Dunbar sold 13,000 shares of Standex International stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $290.82, for a total transaction of $3,780,660.00. Following the completion of the sale, the chief executive officer owned 75,973 shares of the company’s stock, valued at approximately $22,094,467.86. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 13,100 shares of company stock worth $3,810,182 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.