Standex International (NYSE:SXI) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Standex International (NYSE:SXIGet Rating) released its quarterly earnings results on Thursday. The industrial products company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.47 by $0.07, Briefing.com reports. The firm had revenue of $184.74 million for the quarter, compared to analyst estimates of $182.35 million. Standex International had a return on equity of 13.46% and a net margin of 8.54%. Standex International’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 EPS.

Standex International Stock Performance

Shares of NYSE SXI traded down $1.81 during trading on Friday, reaching $95.80. The stock had a trading volume of 50,268 shares, compared to its average volume of 48,332. Standex International has a one year low of $79.02 and a one year high of $121.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.16 and a current ratio of 2.90. The stock has a market cap of $1.16 billion, a PE ratio of 18.78, a P/E/G ratio of 1.03 and a beta of 1.15. The firm’s 50 day moving average price is $88.93 and its two-hundred day moving average price is $96.51.

Standex International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Wednesday, August 10th. Standex International’s payout ratio is 20.39%.

Standex International declared that its Board of Directors has initiated a share buyback plan on Thursday, May 5th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CFO Ademir Sarcevic sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $91.84, for a total value of $110,208.00. Following the completion of the sale, the chief financial officer now directly owns 14,048 shares in the company, valued at approximately $1,290,168.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.87% of the company’s stock.

Institutional Investors Weigh In On Standex International

A number of institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in Standex International by 3.8% during the 1st quarter. JPMorgan Chase & Co. now owns 34,276 shares of the industrial products company’s stock worth $3,424,000 after buying an additional 1,247 shares during the last quarter. Raymond James & Associates grew its stake in Standex International by 20.8% during the 1st quarter. Raymond James & Associates now owns 6,057 shares of the industrial products company’s stock worth $605,000 after buying an additional 1,043 shares during the last quarter. Citigroup Inc. grew its stake in Standex International by 6.9% during the 1st quarter. Citigroup Inc. now owns 11,728 shares of the industrial products company’s stock worth $1,172,000 after buying an additional 755 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Standex International by 3.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,312 shares of the industrial products company’s stock worth $631,000 after buying an additional 189 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in Standex International by 39.1% during the 1st quarter. MetLife Investment Management LLC now owns 6,221 shares of the industrial products company’s stock worth $622,000 after buying an additional 1,750 shares during the last quarter. 88.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barrington Research boosted their price target on Standex International from $139.00 to $143.00 in a research report on Friday, May 6th. William Blair raised Standex International from a “market perform” rating to an “outperform” rating in a research report on Monday, May 9th.

About Standex International

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Standex International Corporation, together with subsidiaries, manufactures and sells various products and services for commercial and industrial markets in the United States and internationally. The company operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.

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Earnings History for Standex International (NYSE:SXI)

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