Standex International (NYSE:SXI) Sets New 52-Week High – Should You Buy?

Standex International Co. (NYSE:SXI) reached a new 52-week high during mid-day 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 research analysts have issued reports on the stock. StockNews.com upgraded shares of Standex International from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Benchmark lifted their price target on Standex International from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Standex International in a report on Wednesday, October 30th.

Standex International Stock Up 1.1 %

The stock has a 50-day moving average of $192.87 and a 200-day moving average of $178.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.55 and a quick ratio of 2.83. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 33.98, a P/E/G ratio of 2.89 and a beta of 1.05.

Standex International (NYSE:SXI) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.05. Standex International had a net margin of 10.26% and a return on equity of 13.18%. The company had revenue of $170.50 million during the quarter, compared to the consensus estimate of $178.94 million. During the same quarter in the prior year, the firm posted $1.74 EPS. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. Sell-side analysts predict that Standex International Co. will post 7.84 EPS for the current fiscal year.

Standex International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Standex International’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 0.61%. Standex International’s dividend payout ratio (DPR) is 20.98%.

Insiders Place Their Bets

In related news, CFO Ademir Sarcevic sold 3,800 shares of the stock in a transaction on Monday, November 4th. The stock was 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 directly owns 19,686 shares in the company, valued at $3,575,765.04. This represents a 16.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas J. Hansen sold 1,661 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.41, for a total value of $349,491.01. Following the transaction, the director now owns 11,431 shares of the company’s stock, valued at $2,405,196.71. This trade represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,061 shares of company stock valued at $1,359,419. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in shares of Standex International during the second quarter worth approximately $743,000. Envestnet Asset Management Inc. raised its holdings in Standex International by 5.1% during the second quarter. Envestnet Asset Management Inc. now owns 98,671 shares of the industrial products company’s stock worth $15,901,000 after buying an additional 4,768 shares during the last quarter. Millennium Management LLC bought a new position in shares of Standex International in the second quarter valued at $4,299,000. Walleye Capital LLC acquired a new position in shares of Standex International during the third quarter valued at about $250,000. Finally, Copeland Capital Management LLC increased its position in shares of Standex International by 0.8% during the third quarter. Copeland Capital Management LLC now owns 556,244 shares of the industrial products company’s stock worth $101,670,000 after acquiring an additional 4,281 shares in the last quarter. Institutional investors and hedge funds 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.