Standex International (NYSE:SXI) Sees Strong Trading Volume – Should You Buy?

Shares of Standex International Corporation (NYSE:SXI) saw unusually-high trading volume on Monday . Approximately 117,698 shares were traded during mid-day trading, an increase of 18% from the previous session’s volume of 100,017 shares.The stock last traded at $243.8570 and had previously closed at $245.16.

Wall Street Analyst Weigh In

A number of brokerages have commented on SXI. DA Davidson reiterated a “buy” rating and issued a $272.00 price objective on shares of Standex International in a research report on Monday, November 24th. Roth Capital boosted their price target on shares of Standex International from $205.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Wall Street Zen cut shares of Standex International from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of Standex International in a research note on Wednesday, October 8th. Finally, Barrington Research restated an “outperform” rating and set a $260.00 target price on shares of Standex International in a research report on Thursday, November 20th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Standex International has an average rating of “Moderate Buy” and a consensus target price of $264.00.

Standex International Price Performance

The company has a debt-to-equity ratio of 0.78, a current ratio of 2.88 and a quick ratio of 2.10. The company’s 50-day moving average price is $228.24 and its 200-day moving average price is $193.81. The company has a market cap of $2.97 billion, a P/E ratio of 52.76, a P/E/G ratio of 3.07 and a beta of 1.17.

Standex International (NYSE:SXI) last released its quarterly earnings results on Friday, October 31st. The industrial products company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.05. The firm had revenue of $217.43 million during the quarter, compared to the consensus estimate of $215.96 million. Standex International had a return on equity of 13.92% and a net margin of 7.06%.The business’s revenue was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 EPS. As a group, sell-side analysts predict that Standex International Corporation will post 7.9 earnings per share for the current fiscal year.

Standex International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 7th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, November 7th. This is a boost from Standex International’s previous quarterly dividend of $0.32. Standex International’s dividend payout ratio (DPR) is presently 31.19%.

Insider Buying and Selling

In other news, Director Thomas E. Chorman sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $223.31, for a total value of $223,310.00. Following the transaction, the director directly owned 13,229 shares of the company’s stock, valued at $2,954,167.99. The trade was a 7.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ademir Sarcevic sold 1,823 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $230.12, for a total transaction of $419,508.76. Following the completion of the sale, the chief financial officer owned 9,341 shares of the company’s stock, valued at $2,149,550.92. The trade was a 16.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 32,473 shares of company stock valued at $7,389,509. Insiders own 2.52% of the company’s stock.

Hedge Funds Weigh In On Standex International

Large investors have recently modified their holdings of the business. Wasatch Advisors LP grew its position in Standex International by 62.4% during the second quarter. Wasatch Advisors LP now owns 866,830 shares of the industrial products company’s stock valued at $135,642,000 after acquiring an additional 332,941 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Standex International by 636.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 240,623 shares of the industrial products company’s stock worth $38,796,000 after acquiring an additional 207,961 shares in the last quarter. Voya Investment Management LLC raised its holdings in Standex International by 1,619.8% in the first quarter. Voya Investment Management LLC now owns 130,860 shares of the industrial products company’s stock worth $21,119,000 after purchasing an additional 123,251 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Standex International in the 3rd quarter worth about $19,763,000. Finally, Kennedy Capital Management LLC purchased a new position in Standex International during the 3rd quarter valued at about $17,766,000. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Standex International Company Profile

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.