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

Standex International Corporation (NYSE:SXI) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $298.59 and last traded at $296.6520, with a volume of 20139 shares changing hands. The stock had previously closed at $290.45.

Wall Street Analyst Weigh In

Several analysts have issued reports on SXI shares. Zacks Research raised Standex International from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Weiss Ratings raised Standex International from a “hold (c)” rating to a “buy (b)” rating in a research report on Thursday, May 7th. Barrington Research reaffirmed an “outperform” rating and set a $260.00 target price on shares of Standex International in a research report on Monday, March 9th. Finally, DA Davidson reissued a “buy” rating and issued a $323.00 price objective on shares of Standex International in a research report on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Standex International currently has a consensus rating of “Moderate Buy” and an average price target of $289.67.

Standex International Price Performance

The company has a current ratio of 3.05, a quick ratio of 2.23 and a debt-to-equity ratio of 0.63. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 36.25, a PEG ratio of 3.76 and a beta of 1.08. The stock has a 50-day moving average price of $266.22 and a two-hundred day moving average price of $252.11.

Standex International (NYSE:SXI) last posted its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.01). The business had revenue of $224.60 million during the quarter, compared to analyst estimates of $225.16 million. Standex International had a return on equity of 14.38% and a net margin of 11.18%.The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.95 EPS. As a group, equities research analysts forecast that Standex International Corporation will post 8.58 EPS for the current year.

Standex International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a $0.34 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.36 dividend on an annualized basis and a yield of 0.5%. Standex International’s dividend payout ratio (DPR) is 16.57%.

Hedge Funds Weigh In On Standex International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its stake in Standex International by 61.3% in the 4th quarter. Wasatch Advisors LP now owns 1,369,859 shares of the industrial products company’s stock worth $297,643,000 after acquiring an additional 520,506 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Standex International by 23.4% in 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 last quarter. Geode Capital Management LLC raised its stake in Standex International by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 281,603 shares of the industrial products company’s stock worth $61,195,000 after acquiring an additional 798 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Standex International by 73.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 223,581 shares of the industrial products company’s stock worth $48,580,000 after acquiring an additional 94,415 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Standex International by 3.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 207,608 shares of the industrial products company’s stock worth $43,992,000 after acquiring an additional 6,092 shares during the last quarter. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Standex International Company Profile

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.