Standex International (NYSE:SXI) Reaches New 1-Year High – Here’s Why

Standex International Corporation (NYSE:SXI) hit a new 52-week high during trading on Monday . The stock traded as high as $263.98 and last traded at $261.40, with a volume of 40699 shares trading hands. The stock had previously closed at $254.24.

Analysts Set New Price Targets

SXI has been the topic of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Standex International in a research note on Wednesday, January 21st. Roth Mkm upped their price target on shares of Standex International from $260.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. Barrington Research reiterated an “outperform” rating and set a $260.00 price objective on shares of Standex International in a research note on Monday, February 2nd. DA Davidson boosted their price objective on Standex International from $272.00 to $298.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Finally, Wall Street Zen downgraded Standex International from a “buy” rating to a “hold” rating in a research note on Sunday, February 1st. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $281.33.

Standex International Trading Up 0.6%

The stock has a market cap of $3.18 billion, a PE ratio of 58.77 and a beta of 1.13. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.10 and a current ratio of 2.87. The company has a 50 day moving average of $238.72 and a two-hundred day moving average of $223.93.

Standex International (NYSE:SXI) last issued its quarterly earnings data on Friday, January 30th. The industrial products company reported $2.08 EPS for the quarter, beating the consensus estimate of $2.00 by $0.08. Standex International had a return on equity of 14.29% and a net margin of 6.20%.The company had revenue of $221.32 million for the quarter, compared to analyst estimates of $219.22 million. During the same period last year, the company earned $1.91 earnings per share. Standex International’s quarterly revenue was up 16.6% compared to the same quarter last year. Sell-side analysts anticipate that Standex International Corporation will post 7.9 earnings per share for the current fiscal year.

Standex International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.5%. Standex International’s payout ratio is currently 30.49%.

Insider Buying and Selling

In related news, Director Thomas E. Chorman sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $223.31, for a total transaction of $223,310.00. Following the completion of the sale, the director directly owned 13,229 shares in the company, valued at approximately $2,954,167.99. The trade was a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy L. Nemeth acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was purchased at an average price of $245.00 per share, for a total transaction of $490,000.00. Following the acquisition, the director directly owned 8,639 shares in the company, valued at $2,116,555. This represents a 30.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Standex International

A number of large investors have recently modified their holdings of SXI. Wasatch Advisors LP lifted 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 worth $135,642,000 after buying an additional 332,941 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in 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 valued at $38,796,000 after buying an additional 207,961 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Standex International in the 3rd quarter worth $19,763,000. Kennedy Capital Management LLC acquired a new stake in shares of Standex International in the 3rd quarter worth $17,766,000. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Standex International by 23.4% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 392,820 shares of the industrial products company’s stock worth $85,352,000 after acquiring an additional 74,599 shares during the period. Hedge funds and other institutional investors own 90.35% of the company’s stock.

About Standex International

Standex International Corporation is a diversified global manufacturer specializing in food service equipment, engineered components, and industrial products. Operating across multiple markets, the company designs and produces commercial cooking and warming solutions, precision-engraved nameplates and decorative products, fluid power hydraulics, and magnetics-based electronics. These offerings serve a broad array of end markets, including quick-service restaurants, automotive, aerospace, medical devices, and consumer appliances.

With business organized into key segments—Food Service Equipment, Engraving & Decorating, Hydraulics, Industrial Electronics, and Technical Graphical Solutions—Standex delivers a combination of proprietary technology, automated manufacturing processes, and custom engineering services.