Standex International (NYSE:SXI) Hits New 52-Week High – Still a Buy?

Shares of Standex International Co. (NYSE:SXI) reached a new 52-week high on Monday . The company traded as high as $212.41 and last traded at $212.41, with a volume of 15014 shares changing hands. The stock had previously closed at $204.62.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SXI shares. DA Davidson upped their price target on Standex International from $203.00 to $211.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Benchmark upped their price objective on shares of Standex International from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. StockNews.com raised Standex International from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Standex International in a report on Wednesday, October 30th.

Standex International Trading Down 0.8 %

The firm has a 50-day simple moving average of $187.44 and a 200-day simple moving average of $176.31. The stock has a market cap of $2.51 billion, a PE ratio of 34.03, a P/E/G ratio of 3.00 and a beta of 1.03. The company has a quick ratio of 2.83, a current ratio of 3.55 and a debt-to-equity ratio of 0.23.

Standex International (NYSE:SXI) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.05. The firm had revenue of $170.50 million for the quarter, compared to the consensus estimate of $178.94 million. Standex International had a net margin of 10.26% and a return on equity of 13.18%. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.74 earnings per share. Equities analysts forecast that Standex International Co. will post 7.84 earnings per share for the current year.

Standex International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.32 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.28 annualized dividend and a dividend yield of 0.62%. This is a boost from Standex International’s previous quarterly dividend of $0.30. Standex International’s dividend payout ratio is presently 20.98%.

Insider Activity at Standex International

In other news, Director Thomas J. Hansen sold 1,661 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.41, for a total transaction of $349,491.01. Following the sale, the director now owns 11,431 shares in the company, valued at approximately $2,405,196.71. This trade represents a 12.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ademir Sarcevic sold 3,800 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $181.64, for a total transaction of $690,232.00. Following the completion of the transaction, the chief financial officer now owns 19,686 shares of the company’s stock, valued at $3,575,765.04. This trade represents a 16.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,061 shares of company stock valued at $1,359,419. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Standex International

A number of large investors have recently added to or reduced their stakes in SXI. GAMMA Investing LLC increased its position in shares of Standex International by 93.5% during the 3rd quarter. GAMMA Investing LLC now owns 149 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 72 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Standex International during the second quarter valued at approximately $32,000. Peterson Financial Group Inc. bought a new position in Standex International during the third quarter valued at approximately $44,000. US Bancorp DE raised its stake in shares of Standex International by 15.2% during the third quarter. US Bancorp DE now owns 623 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 82 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Standex International by 95.5% in the 2nd quarter. Fifth Third Bancorp now owns 733 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 90.35% of the company’s stock.

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.