Standex International (NYSE:SXI) Trading 7.2% Higher on Earnings Beat

Standex International Corporation (NYSE:SXI) rose 7.2% on Friday after the company announced better than expected quarterly earnings. The company traded as high as $315.50 and last traded at $308.0470. 18,395 shares traded hands during trading, a decline of 90% from the average daily volume of 181,566 shares. The stock had previously closed at $287.25.

The industrial products company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.10. The business had revenue of $228.25 million during the quarter, compared to analysts’ expectations of $226.47 million. Standex International had a return on equity of 14.38% and a net margin of 11.18%.The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.28 earnings per share.

Standex International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be issued a dividend of $0.34 per share. The ex-dividend date is Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a yield of 0.4%. Standex International’s dividend payout ratio (DPR) is 16.57%.

Analyst Ratings Changes

A number of brokerages have recently commented on SXI. Zacks Research raised Standex International from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Weiss Ratings raised shares of Standex International from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 16th. Finally, DA Davidson restated a “buy” rating and set a $323.00 price objective on shares of Standex International in a report on Monday, May 4th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Standex International presently has a consensus rating of “Moderate Buy” and an average price target of $289.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP grew its stake in Standex International by 61.3% in the fourth quarter. Wasatch Advisors LP now owns 1,369,859 shares of the industrial products company’s stock valued at $297,643,000 after acquiring an additional 520,506 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Standex International by 73.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 223,581 shares of the industrial products company’s stock valued at $48,580,000 after purchasing an additional 94,415 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of 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 valued at $85,352,000 after purchasing an additional 74,599 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Standex International by 538.0% in the 4th quarter. Thrivent Financial for Lutherans now owns 55,544 shares of the industrial products company’s stock valued at $12,069,000 after purchasing an additional 46,838 shares during the period. Finally, UBS Group AG increased its stake in Standex International by 66.8% during the 4th quarter. UBS Group AG now owns 91,443 shares of the industrial products company’s stock worth $19,869,000 after purchasing an additional 36,634 shares in the last quarter. 90.35% of the stock is currently owned by institutional investors.

Standex International Trading Up 7.2%

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 firm has a market capitalization of $3.73 billion, a P/E ratio of 37.53, a PEG ratio of 3.06 and a beta of 1.03. The business has a 50 day moving average of $304.70 and a 200-day moving average of $273.90.

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.