Standex International (NYSE:SXI) Stock: Insider Charles Cannon, Jr. Sells 908 Shares

Standex International Corporation (NYSE:SXI) Director Charles Cannon, Jr. sold 908 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $259.03, for a total transaction of $235,199.24. Following the sale, the director directly owned 1,989 shares of the company’s stock, valued at approximately $515,210.67. The trade was a 31.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Standex International Stock Down 7.5%

Shares of Standex International stock traded down $18.87 on Thursday, reaching $232.55. The stock had a trading volume of 192,105 shares, compared to its average volume of 169,336. The company has a 50 day moving average price of $270.50 and a 200 day moving average price of $277.72. The company has a quick ratio of 2.30, a current ratio of 3.19 and a debt-to-equity ratio of 0.67. Standex International Corporation has a 1 year low of $215.62 and a 1 year high of $363.89. The stock has a market capitalization of $2.81 billion, a P/E ratio of 24.74, a P/E/G ratio of 2.83 and a beta of 1.07.

Standex International (NYSE:SXI) last posted its earnings results on Thursday, October 29th. The industrial products company reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. Standex International had a net margin of 12.54% and a return on equity of 14.84%. The company had revenue of $232.57 million during the quarter, compared to analysts’ expectations of $229.65 million. During the same quarter in the prior year, the company posted $1.99 earnings per share. Standex International’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts forecast that Standex International Corporation will post 10.18 EPS for the current year.

Standex International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, November 6th. This is a positive change from Standex International’s previous quarterly dividend of $0.34. Standex International’s payout ratio is 14.47%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of Standex International in a report on Wednesday, October 14th. They set a “neutral” rating and a $320.00 price objective on the stock. Weiss Ratings lowered Standex International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. Finally, DA Davidson reiterated a “buy” rating and set a $350.00 price target on shares of Standex International in a research report on Thursday, August 20th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $304.00.

Institutional Trading of Standex International

Several institutional investors have recently modified their holdings of the stock. Illinois Municipal Retirement Fund boosted its holdings in shares of Standex International by 9.6% in the third quarter. Illinois Municipal Retirement Fund now owns 6,670 shares of the industrial products company’s stock valued at $1,821,000 after acquiring an additional 583 shares during the period. Knights of Columbus Asset Advisors LLC lifted its position in shares of Standex International by 0.5% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 11,431 shares of the industrial products company’s stock valued at $3,121,000 after acquiring an additional 54 shares during the period. Bryn Mawr Trust Advisors LLC boosted its position in Standex International by 3.6% during the third quarter. Bryn Mawr Trust Advisors LLC now owns 1,162 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 40 shares in the last quarter. Kestra Advisory Services LLC boosted its position in shares of Standex International by 90.8% in the 3rd quarter. Kestra Advisory Services LLC now owns 2,110 shares of the industrial products company’s stock worth $576,000 after buying an additional 1,004 shares in the last quarter. Finally, Conestoga Capital Advisors LLC acquired a new stake in shares of Standex International in the third quarter valued at approximately $16,832,000. Hedge funds and other institutional investors own 90.35% of the company’s stock.

About Standex International

Standex International Corporation (NYSE:SXI) is a diversified industrial manufacturer that develops and produces specialized equipment, components and engineered products for customers in a range of commercial and industrial markets. The company serves original equipment manufacturers and other businesses through a portfolio of operations focused on applications requiring specialized technology, precision manufacturing and customized solutions.

Its businesses include Standex Electronics, which makes sensors, switches, relays, magnetic components and power magnetics; Standex Engraving, which provides engraved tooling, mold texturing and patterned rolls for plastics, packaging and other manufacturing applications; and Standex Engineering Technologies, which develops engineered components and systems for industrial and mobile equipment.