Barrington Research Research Analysts Cut Earnings Estimates for Standex International Co. (NYSE:SXI)

Standex International Co. (NYSE:SXI) – Analysts at Barrington Research reduced their Q2 2024 earnings estimates for shares of Standex International in a note issued to investors on Monday, November 6th. Barrington Research analyst G. Prestopino now expects that the industrial products company will earn $1.74 per share for the quarter, down from their previous estimate of $1.97. The consensus estimate for Standex International’s current full-year earnings is $7.67 per share. Barrington Research also issued estimates for Standex International’s Q3 2024 earnings at $1.78 EPS, Q4 2024 earnings at $2.00 EPS, FY2024 earnings at $7.28 EPS, Q1 2025 earnings at $1.95 EPS, Q2 2025 earnings at $1.98 EPS, Q3 2025 earnings at $1.98 EPS and FY2025 earnings at $8.13 EPS.

Several other brokerages also recently weighed in on SXI. StockNews.com initiated coverage on Standex International in a research note on Thursday, October 5th. They set a “strong-buy” rating on the stock. William Blair reaffirmed an “outperform” rating on shares of Standex International in a report on Tuesday, July 18th. Finally, Benchmark lowered their target price on shares of Standex International from $205.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday.

Standex International Stock Performance

Shares of NYSE SXI opened at $134.18 on Wednesday. Standex International has a 12-month low of $96.32 and a 12-month high of $168.81. The company has a market cap of $1.60 billion, a PE ratio of 11.50, a P/E/G ratio of 2.00 and a beta of 1.11. The stock has a 50 day simple moving average of $146.06 and a 200-day simple moving average of $143.63. The company has a current ratio of 3.19, a quick ratio of 2.44 and a debt-to-equity ratio of 0.25.

Standex International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be paid a dividend of $0.30 per share. This is a positive change from Standex International’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Tuesday, November 7th. Standex International’s dividend payout ratio (DPR) is presently 10.28%.

Insider Activity

In other news, CFO Ademir Sarcevic sold 1,355 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $157.21, for a total value of $213,019.55. Following the completion of the sale, the chief financial officer now owns 9,929 shares in the company, valued at $1,560,938.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Barbara Joanne Edwards sold 970 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $155.77, for a total transaction of $151,096.90. Following the completion of the sale, the director now directly owns 5,564 shares in the company, valued at $866,704.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ademir Sarcevic sold 1,355 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $157.21, for a total value of $213,019.55. Following the completion of the transaction, the chief financial officer now directly owns 9,929 shares in the company, valued at approximately $1,560,938.09. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,425 shares of company stock worth $827,597. 2.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Standex International

Large investors have recently modified their holdings of the stock. State of Wyoming purchased a new stake in shares of Standex International during the second quarter valued at $28,000. Covestor Ltd lifted its stake in Standex International by 9,533.3% during the second quarter. Covestor Ltd now owns 289 shares of the industrial products company’s stock valued at $41,000 after buying an additional 286 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of Standex International in the fourth quarter worth about $34,000. Tower Research Capital LLC TRC increased its position in shares of Standex International by 230.7% in the first quarter. Tower Research Capital LLC TRC now owns 334 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 233 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in shares of Standex International by 140.3% during the first quarter. Benjamin Edwards Inc. now owns 459 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 268 shares during the period. 88.80% of the stock is owned by institutional investors.

About Standex International

Standex International Corporation, together with subsidiaries, manufactures and sells 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.