Standex International Corporation (NYSE:SXI) Declares Quarterly Dividend of $0.36

Standex International Corporation (NYSE:SXI) declared a quarterly dividend on Thursday, October 22nd. Stockholders of record on Friday, November 6th will be given a dividend of $0.36 per share by the industrial products company on Friday, November 20th. This represents a $1.44 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, November 6th. This is a 5.9% increase from Standex International’s previous quarterly dividend of $0.34.

Standex International has raised its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Standex International has a dividend payout ratio of 15.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Standex International to earn $11.81 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 11.5%.

Standex International Price Performance

SXI opened at $243.36 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.84 and a current ratio of 2.40. The stock has a market capitalization of $2.99 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 3.00 and a beta of 1.07. The stock’s 50 day moving average price is $281.95 and its 200-day moving average price is $289.05. Standex International has a 52-week low of $215.62 and a 52-week high of $363.89.

Standex International (NYSE:SXI) last issued its quarterly earnings data on Friday, July 31st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.10. Standex International had a net margin of 11.73% and a return on equity of 14.47%. The business had revenue of $228.25 million for the quarter, compared to the consensus estimate of $226.47 million. During the same period in the previous year, the firm earned $2.28 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Standex International will post 9.98 EPS for the current year.

Wall Street Analysts Forecast Growth

SXI has been the topic of a number of research reports. JPMorgan Chase & Co. began coverage on shares of Standex International in a research note on Wednesday, October 14th. They set a “neutral” rating and a $320.00 target price on the stock. Weiss Ratings downgraded shares of Standex International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. Finally, DA Davidson restated a “buy” rating and issued a $350.00 price objective on shares of Standex International in a report on Thursday, August 20th. 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 stock presently has an average rating of “Moderate Buy” and an average price target 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.