Standex International (NYSE:SXI) Issues Quarterly Earnings Results

Standex International (NYSE:SXI) released its earnings results on Thursday. The industrial products company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.34 by $0.07, Zacks reports. Standex International had a net margin of 11.73% and a return on equity of 14.47%. The company had revenue of $232.57 million for the quarter, compared to analyst estimates of $229.65 million. During the same quarter last year, the firm earned $1.99 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year.

Standex International Stock Performance

Shares of Standex International stock traded down $2.67 during trading on Friday, hitting $245.52. 53,746 shares of the company’s stock were exchanged, compared to its average volume of 168,475. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 2.72 and a beta of 1.07. The business has a 50-day simple moving average of $274.96 and a 200-day simple moving average of $277.58. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.84 and a current ratio of 2.40. Standex International has a 52-week low of $215.62 and a 52-week high of $363.89.

Standex International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be given a $0.36 dividend. This is an increase from Standex International’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, November 6th. Standex International’s payout ratio is currently 15.69%.

Insiders Place Their Bets

In other news, CEO David Dunbar sold 13,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $290.82, for a total transaction of $3,780,660.00. Following the sale, the chief executive officer directly owned 75,973 shares in the company, valued at $22,094,467.86. This trade represents a 14.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 13,100 shares of company stock valued at $3,810,182 over the last three months. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on SXI shares. Weiss Ratings lowered Standex International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 18th. JPMorgan Chase & Co. initiated 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. Finally, DA Davidson reissued a “buy” rating and set 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 given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.