Standex International Co. (SXI) to Issue Quarterly Dividend of $0.30 on May 24th

Standex International Co. (NYSE:SXI) announced a quarterly dividend on Thursday, April 25th, RTT News reports. Investors of record on Friday, May 10th will be given a dividend of 0.30 per share by the industrial products company on Friday, May 24th. This represents a $1.20 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Thursday, May 9th.

Standex International has raised its dividend payment by an average of 8.2% annually over the last three years and has increased its dividend every year for the last 13 years. Standex International has a dividend payout ratio of 14.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Standex International to earn $8.10 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 14.8%.

Standex International Stock Down 3.6 %

NYSE SXI opened at $168.67 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.43. The firm has a 50-day simple moving average of $174.66 and a 200 day simple moving average of $156.66. Standex International has a twelve month low of $128.27 and a twelve month high of $184.18. The stock has a market cap of $2.00 billion, a PE ratio of 27.29, a PEG ratio of 2.69 and a beta of 1.06.

Standex International (NYSE:SXI) last released its earnings results on Thursday, May 2nd. The industrial products company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.08. The business had revenue of $177.30 million during the quarter, compared to analysts’ expectations of $180.06 million. Standex International had a net margin of 10.11% and a return on equity of 13.72%. The firm’s revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the company earned $1.65 earnings per share. On average, research analysts forecast that Standex International will post 7.23 EPS for the current year.

Insider Transactions at Standex International

In other news, CEO David A. Dunbar sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $165.00, for a total transaction of $825,000.00. Following the completion of the sale, the chief executive officer now owns 62,233 shares of the company’s stock, valued at $10,268,445. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO David A. Dunbar sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $165.00, for a total value of $825,000.00. Following the completion of the sale, the chief executive officer now owns 62,233 shares of the company’s stock, valued at $10,268,445. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Barbara Joanne Edwards sold 275 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $159.82, for a total transaction of $43,950.50. Following the completion of the sale, the director now directly owns 4,536 shares of the company’s stock, valued at approximately $724,943.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,084 shares of company stock valued at $2,980,448. Corporate insiders own 2.63% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on SXI shares. Barrington Research restated an “outperform” rating and set a $180.00 price target on shares of Standex International in a research note on Monday. DA Davidson raised their price target 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. StockNews.com lowered shares of Standex International from a “strong-buy” rating to a “buy” rating in a report on Monday, February 5th. Finally, Benchmark reaffirmed a “buy” rating and set a $190.00 price objective on shares of Standex International in a report on Friday. Five analysts have rated the stock with a buy rating, According to MarketBeat, Standex International has a consensus rating of “Buy” and a consensus target price of $190.00.

About Standex International

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.