Insider Selling: Standex International (NYSE:SXI) Director Sells $235,199.24 in Stock

Standex International Corporation (NYSE:SXI) Director Charles Cannon, Jr. sold 908 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $259.03, for a total value of $235,199.24. Following the transaction, the director owned 1,989 shares in the company, valued at $515,210.67. The trade was a 31.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Standex International Trading Down 1.5%

Shares of NYSE SXI opened at $229.27 on Friday. Standex International Corporation has a twelve month low of $215.62 and a twelve month high of $363.89. The firm has a market cap of $2.77 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 2.45 and a beta of 1.07. The business has a fifty day simple moving average of $267.57 and a two-hundred day simple moving average of $277.56. The company has a quick ratio of 2.30, a current ratio of 3.19 and a debt-to-equity ratio of 0.67.

Standex International (NYSE:SXI) last posted its quarterly earnings results on Thursday, October 29th. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. The business had revenue of $232.57 million for the quarter, compared to the consensus estimate of $229.65 million. Standex International had a return on equity of 14.84% and a net margin of 12.54%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.99 EPS. Analysts expect that Standex International Corporation will post 10.35 earnings per share for the current fiscal year.

Standex International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.6%. This is a boost from Standex International’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, November 6th. Standex International’s payout ratio is currently 14.47%.

Analyst Upgrades and Downgrades

A number of research firms have commented on SXI. DA Davidson reissued a “buy” rating and set a $350.00 target price on shares of Standex International in a research report on Thursday, August 20th. Weiss Ratings cut shares of Standex International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 18th. Finally, JPMorgan Chase & Co. started coverage on shares of Standex International in a research note on Wednesday, October 14th. They set a “neutral” rating and a $320.00 price objective on the stock. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $304.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SXI. BlackRock Inc. bought a new stake in Standex International during the second quarter valued at about $640,120,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Standex International in the second quarter valued at about $149,891,000. Bank of New York Mellon Corp bought a new position in Standex International in the second quarter worth about $65,337,000. Sei Investments Co. raised its holdings in Standex International by 4.5% in the first quarter. Sei Investments Co. now owns 105,064 shares of the industrial products company’s stock worth $26,774,000 after purchasing an additional 4,520 shares in the last quarter. Finally, Conestoga Capital Advisors LLC purchased a new stake in shares of Standex International during the third quarter valued at about $16,832,000. 90.35% of the stock is owned by institutional investors.

Standex International Company Profile

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.