Standex International (NYSE:SXI) Stock Price Up 8.4% Following Better-Than-Expected Earnings

Shares of Standex International Co. (NYSE:SXI) were up 8.4% during trading on Friday following a stronger than expected earnings report. The stock traded as high as $154.49 and last traded at $157.06. Approximately 12,664 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 55,803 shares. The stock had previously closed at $144.85.

The industrial products company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Standex International had a return on equity of 13.28% and a net margin of 7.59%. The business had revenue of $207.78 million for the quarter, compared to analyst estimates of $203.71 million. During the same period in the previous year, the firm earned $1.75 EPS. The firm’s revenue was up 17.2% compared to the same quarter last year.

Standex International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, May 9th. Standex International’s payout ratio is 27.95%.

Analyst Ratings Changes

SXI has been the subject of a number of research analyst reports. Barrington Research restated an “outperform” rating and set a $220.00 price objective on shares of Standex International in a report on Friday. William Blair restated an “outperform” rating on shares of Standex International in a research note on Tuesday, March 11th. StockNews.com cut Standex International from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Roth Capital raised shares of Standex International to a “strong-buy” rating in a research report on Wednesday, April 9th. Finally, DA Davidson raised their price target on shares of Standex International from $222.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $231.33.

Insiders Place Their Bets

In other news, CFO Ademir Sarcevic sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $195.44, for a total value of $390,880.00. Following the completion of the transaction, the chief financial officer now directly owns 16,086 shares in the company, valued at approximately $3,143,847.84. The trade was a 11.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Standex International

Large investors have recently made changes to their positions in the company. Whipplewood Advisors LLC lifted its stake in Standex International by 965.0% during the first quarter. Whipplewood Advisors LLC now owns 213 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 193 shares during the last quarter. Whittier Trust Co. lifted its position in shares of Standex International by 46.3% during the 1st quarter. Whittier Trust Co. now owns 218 shares of the industrial products company’s stock worth $35,000 after buying an additional 69 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Standex International by 29.9% in the first quarter. TD Private Client Wealth LLC now owns 330 shares of the industrial products company’s stock valued at $53,000 after buying an additional 76 shares in the last quarter. Versant Capital Management Inc grew its position in Standex International by 27.0% in the fourth quarter. Versant Capital Management Inc now owns 301 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 64 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Standex International by 183.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 510 shares of the industrial products company’s stock worth $96,000 after acquiring an additional 330 shares in the last quarter. Institutional investors and hedge funds own 90.35% of the company’s stock.

Standex International Price Performance

The business’s fifty day moving average price is $158.04 and its 200 day moving average price is $180.81. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.37 and a quick ratio of 2.61. The stock has a market cap of $1.89 billion, a P/E ratio of 34.71, a PEG ratio of 2.63 and a beta of 0.95.

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.