Standex International (NYSE:SXI) Reaches New 12-Month High – Should You Buy?

Standex International Corporation (NYSE:SXI)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $249.25 and last traded at $248.31, with a volume of 34246 shares changing hands. The stock had previously closed at $241.03.

Analyst Ratings Changes

Several research analysts have commented on SXI shares. Weiss Ratings restated a “hold (c)” rating on shares of Standex International in a research report on Wednesday, October 8th. Wall Street Zen lowered Standex International from a “buy” rating to a “hold” rating in a report on Saturday, November 29th. DA Davidson reaffirmed a “buy” rating and issued a $272.00 price objective on shares of Standex International in a report on Monday, November 24th. Roth Capital raised their target price on shares of Standex International from $205.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $260.00 price target on shares of Standex International in a research note on Thursday, November 20th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $264.00.

Standex International Price Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 2.87 and a quick ratio of 2.07. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 56.55, a price-to-earnings-growth ratio of 2.98 and a beta of 1.10. The stock’s fifty day moving average price is $230.45 and its 200-day moving average price is $195.34.

Standex International (NYSE:SXI) last released its earnings results on Friday, October 31st. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. Standex International had a return on equity of 14.20% and a net margin of 6.29%.The company had revenue of $217.43 million during the quarter, compared to analyst estimates of $215.96 million. During the same quarter in the prior year, the company earned $1.84 earnings per share. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. Equities research analysts predict that Standex International Corporation will post 7.9 EPS for the current fiscal year.

Standex International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 7th were issued a dividend of $0.34 per share. This is a positive change from Standex International’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, November 7th. Standex International’s dividend payout ratio is 31.19%.

Insider Transactions at Standex International

In related news, insider Vineet Kshirsagar sold 650 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $233.37, for a total value of $151,690.50. Following the transaction, the insider owned 5,047 shares in the company, valued at approximately $1,177,818.39. This represents a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David A. Dunbar sold 18,000 shares of Standex International stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $235.00, for a total transaction of $4,230,000.00. Following the completion of the sale, the chief executive officer owned 103,973 shares of the company’s stock, valued at $24,433,655. This trade represents a 14.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 32,473 shares of company stock valued at $7,389,509 in the last quarter. Corporate insiders own 2.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors LP increased its stake in shares of Standex International by 62.4% in the second quarter. Wasatch Advisors LP now owns 866,830 shares of the industrial products company’s stock valued at $135,642,000 after buying an additional 332,941 shares during the period. Champlain Investment Partners LLC lifted its holdings in shares of Standex International by 2.1% during the second quarter. Champlain Investment Partners LLC now owns 603,095 shares of the industrial products company’s stock worth $94,372,000 after purchasing an additional 12,544 shares during the period. Geode Capital Management LLC increased its holdings in Standex International by 2.7% in the second quarter. Geode Capital Management LLC now owns 286,756 shares of the industrial products company’s stock valued at $44,877,000 after purchasing an additional 7,522 shares during the period. Allspring Global Investments Holdings LLC raised its position in Standex International by 1.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 245,244 shares of the industrial products company’s stock worth $51,778,000 after purchasing an additional 4,621 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Standex International by 2.1% during the 1st quarter. Northern Trust Corp now owns 209,316 shares of the industrial products company’s stock worth $33,782,000 after buying an additional 4,389 shares during the period. 90.35% of the stock is owned by institutional investors and hedge funds.

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.