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

Standex International Co. (NYSE:SXI)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $195.24 and last traded at $195.19, with a volume of 1293 shares traded. The stock had previously closed at $185.33.

Wall Street Analyst Weigh In

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

Standex International Trading Up 10.9 %

The company has a current ratio of 3.55, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $177.16 and a 200-day simple moving average of $172.91. The firm has a market cap of $2.48 billion, a P/E ratio of 34.04, a P/E/G ratio of 2.65 and a beta of 1.03.

Standex International (NYSE:SXI) last released its quarterly earnings data 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. Standex International had a return on equity of 13.18% and a net margin of 10.26%. The business had revenue of $170.50 million for the quarter, compared to the consensus estimate of $178.94 million. During the same quarter in the previous year, the company posted $1.74 EPS. The company’s revenue was down 7.7% compared to the same quarter last year. On average, equities research analysts expect that Standex International Co. will post 7.63 EPS for the current fiscal year.

Standex International Increases Dividend

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

Insider Transactions at Standex International

In other news, CFO Ademir Sarcevic sold 3,800 shares of Standex International stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $181.64, for a total value of $690,232.00. Following the completion of the transaction, the chief financial officer now owns 19,686 shares in the company, valued at approximately $3,575,765.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Standex International

A number of large investors have recently bought and sold shares of the business. Champlain Investment Partners LLC boosted its holdings in Standex International by 4.6% during the 1st quarter. Champlain Investment Partners LLC now owns 637,162 shares of the industrial products company’s stock valued at $116,104,000 after acquiring an additional 27,990 shares during the period. Copeland Capital Management LLC boosted its holdings in Standex International by 0.8% during the 3rd quarter. Copeland Capital Management LLC now owns 556,244 shares of the industrial products company’s stock valued at $101,670,000 after acquiring an additional 4,281 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Standex International by 0.3% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 254,841 shares of the industrial products company’s stock valued at $41,068,000 after acquiring an additional 771 shares during the period. Leeward Investments LLC MA raised its position in Standex International by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 132,054 shares of the industrial products company’s stock valued at $21,281,000 after purchasing an additional 7,020 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its position in Standex International by 4.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 127,700 shares of the industrial products company’s stock valued at $23,341,000 after purchasing an additional 5,000 shares in 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.