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

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

Wall Street Analysts Forecast Growth

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

Standex International Stock Up 10.9 %

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

Standex International (NYSE:SXI) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.71 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $178.94 million. During the same period in the previous year, the business posted $1.74 EPS. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. Equities research analysts forecast that Standex International Co. will post 7.63 earnings per share for the current fiscal year.

Standex International Increases Dividend

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

Insider Activity

In other news, CFO Ademir Sarcevic sold 3,800 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $181.64, for a total transaction of $690,232.00. Following the completion of the transaction, the chief financial officer now owns 19,686 shares of the company’s stock, valued at approximately $3,575,765.04. The trade was a 0.00 % 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. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Standex International

A number of institutional investors have recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp grew its stake in shares of Standex International by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 10,451 shares of the industrial products company’s stock worth $1,684,000 after acquiring an additional 62 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Standex International by 93.5% in the third quarter. GAMMA Investing LLC now owns 149 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 72 shares during the last quarter. Raymond James Trust N.A. boosted its position in shares of Standex International by 1.9% during the second quarter. Raymond James Trust N.A. now owns 4,393 shares of the industrial products company’s stock valued at $708,000 after buying an additional 82 shares during the last quarter. US Bancorp DE boosted its position in shares of Standex International by 15.2% during the third quarter. US Bancorp DE now owns 623 shares of the industrial products company’s stock valued at $114,000 after buying an additional 82 shares during the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Standex International by 3.7% during the third quarter. Inspire Investing LLC now owns 2,544 shares of the industrial products company’s stock valued at $465,000 after buying an additional 90 shares during the last quarter. Institutional investors own 90.35% of the company’s stock.

Standex International Company Profile

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.