Standex International (NYSE:SXI) Given Buy Rating at Benchmark

Benchmark reissued their buy rating on shares of Standex International (NYSE:SXI) in a report issued on Friday morning, Benzinga reports. Benchmark currently has a $190.00 price target on the industrial products company’s stock.

A number of other brokerages have also recently weighed in on SXI. StockNews.com cut shares of Standex International from a strong-buy rating to a buy rating in a research note on Monday, February 5th. DA Davidson raised their price objective on shares of Standex International from $165.00 to $200.00 and gave the stock a buy rating in a research note on Wednesday, March 13th.

Standex International Price Performance

Shares of SXI stock traded down $2.06 during midday trading on Friday, reaching $174.96. 110,966 shares of the company traded hands, compared to its average volume of 52,823. The firm’s 50 day simple moving average is $174.61 and its two-hundred day simple moving average is $156.40. Standex International has a 1-year low of $119.14 and a 1-year high of $184.18. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.34 and a quick ratio of 2.58. The firm has a market cap of $2.08 billion, a PE ratio of 28.31, a price-to-earnings-growth ratio of 2.72 and a beta of 1.06.

Standex International (NYSE:SXI) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.08. Standex International had a net margin of 10.11% and a return on equity of 13.79%. The business had revenue of $177.30 million during the quarter, compared to analysts’ expectations of $180.06 million. During the same period last year, the company posted $1.65 EPS. The company’s revenue was down 3.8% on a year-over-year basis. On average, equities research analysts expect that Standex International will post 7.23 EPS for the current fiscal year.

Standex International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, May 9th. Standex International’s dividend payout ratio (DPR) is 19.42%.

Insider Activity

In related news, VP Alan J. Glass sold 1,619 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $152.92, for a total value of $247,577.48. Following the completion of the sale, the vice president now directly owns 19,224 shares in the company, valued at $2,939,734.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO David A. Dunbar sold 4,901 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $180.00, for a total transaction of $882,180.00. Following the completion of the sale, the chief executive officer now owns 57,332 shares of the company’s stock, valued at approximately $10,319,760. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Alan J. Glass sold 1,619 shares of Standex International stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $152.92, for a total transaction of $247,577.48. Following the transaction, the vice president now directly owns 19,224 shares in the company, valued at $2,939,734.08. The disclosure for this sale can be found here. Insiders sold a total of 18,084 shares of company stock valued at $2,980,448 in the last 90 days. 2.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Standex International

Hedge funds have recently made changes to their positions in the business. AE Wealth Management LLC purchased a new position in Standex International in the third quarter valued at about $230,000. SG Americas Securities LLC acquired a new position in Standex International during the 3rd quarter worth approximately $655,000. Raymond James & Associates boosted its holdings in Standex International by 4.0% in the 3rd quarter. Raymond James & Associates now owns 12,360 shares of the industrial products company’s stock worth $1,801,000 after acquiring an additional 478 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Standex International by 20.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,692 shares of the industrial products company’s stock valued at $392,000 after acquiring an additional 461 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in shares of Standex International during the third quarter valued at approximately $293,000. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Standex International Company Profile

Standex International Corporation, together with subsidiaries, manufactures and sells 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.