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

Standex International Co. (NYSE:SXI)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $212.65 and last traded at $212.58, with a volume of 16889 shares. The stock had previously closed at $206.90.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Benchmark lifted their price objective on Standex International from $210.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barrington Research restated an “outperform” rating and set a $220.00 price objective on shares of Standex International in a research report on Wednesday, October 30th.

Standex International Stock Performance

The stock has a 50 day moving average of $194.05 and a 200 day moving average of $179.11. The company has a quick ratio of 2.83, a current ratio of 3.55 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 33.75, a price-to-earnings-growth ratio of 2.97 and a beta of 1.05.

Standex International (NYSE:SXI) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.66 by $0.05. The company had revenue of $170.50 million for the quarter, compared to analyst estimates of $178.94 million. Standex International had a return on equity of 13.18% and a net margin of 10.26%. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.74 EPS. As a group, analysts predict that Standex International Co. will post 7.84 EPS for the current year.

Standex International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from Standex International’s previous quarterly dividend of $0.30. Standex International’s dividend payout ratio is 20.98%.

Insider Activity

In related news, CFO Ademir Sarcevic sold 3,800 shares of Standex International stock in a transaction on Monday, November 4th. The shares were sold at an average price of $181.64, for a total value of $690,232.00. Following the completion of the sale, the chief financial officer now owns 19,686 shares of the company’s stock, valued at approximately $3,575,765.04. This trade represents a 16.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas J. Hansen sold 1,661 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.41, for a total transaction of $349,491.01. Following the transaction, the director now owns 11,431 shares in the company, valued at approximately $2,405,196.71. The trade was a 12.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,061 shares of company stock worth $1,359,419 in the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Standex International

Several institutional investors have recently bought and sold shares of SXI. Cetera Advisors LLC bought a new position in shares of Standex International during the 1st quarter worth approximately $213,000. SG Americas Securities LLC purchased a new position in Standex International in the second quarter worth $743,000. Raymond James & Associates grew its stake in Standex International by 5.2% in the 2nd quarter. Raymond James & Associates now owns 35,622 shares of the industrial products company’s stock valued at $5,740,000 after purchasing an additional 1,764 shares during the period. Leeward Investments LLC MA increased its position in shares of Standex International by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 132,054 shares of the industrial products company’s stock valued at $21,281,000 after purchasing an additional 7,020 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Standex International by 95.5% during the 2nd quarter. Fifth Third Bancorp now owns 733 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 358 shares during the last quarter. Institutional investors own 90.35% of the company’s stock.

About Standex International

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.