Zacks Investment Research upgraded shares of Standex Int'l Corp. (NYSE:SXI) from a hold rating to a buy rating in a research report sent to investors on Wednesday. The brokerage currently has $107.00 target price on the stock.
According to Zacks, “Standex International Corp. is a diversified manufacturer producing and marketing a wide variety of useful, quality products. The company enjoys a broad and well-balanced earnings base by virtue of its strong market position in selected areas of operation. (PRESS RELEASE) “
A number of other equities analysts have also weighed in on the stock. Sidoti lowered shares of Standex Int'l Corp. from a buy rating to a neutral rating and set a $103.00 price target on the stock. in a report on Monday, December 19th. CJS Securities assumed coverage on shares of Standex Int'l Corp. in a report on Monday, December 12th. They issued a market perform rating on the stock.
Standex Int'l Corp. (NYSE:SXI) opened at 96.70 on Wednesday. The company has a 50-day moving average price of $95.30 and a 200 day moving average price of $89.60. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 25.77 and a beta of 1.41. Standex Int'l Corp. has a 12-month low of $74.35 and a 12-month high of $99.80.
Standex Int'l Corp. (NYSE:SXI) last announced its quarterly earnings results on Friday, February 3rd. The company reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.05. The company had revenue of $173.90 million for the quarter, compared to analyst estimates of $175.75 million. Standex Int'l Corp. had a net margin of 6.61% and a return on equity of 14.79%. During the same quarter last year, the business earned $0.31 EPS. On average, equities research analysts predict that Standex Int'l Corp. will post $4.61 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Thursday, February 9th were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, February 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.66%. Standex Int'l Corp.’s dividend payout ratio (DPR) is presently 17.07%.
In related news, Director Thomas E. Chorman sold 1,539 shares of Standex Int'l Corp. stock in a transaction on Friday, February 10th. The shares were sold at an average price of $96.09, for a total transaction of $147,882.51. Following the transaction, the director now owns 9,614 shares in the company, valued at approximately $923,809.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas E. Chorman sold 906 shares of Standex Int'l Corp. stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $96.85, for a total transaction of $87,746.10. Following the transaction, the director now owns 10,128 shares in the company, valued at approximately $980,896.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,545 shares of company stock worth $245,229. 2.10% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of SXI. US Bancorp DE raised its stake in Standex Int'l Corp. by 9.3% in the third quarter. US Bancorp DE now owns 1,354 shares of the company’s stock worth $126,000 after buying an additional 115 shares during the last quarter. Two Sigma Securities LLC bought a new stake in Standex Int'l Corp. during the third quarter worth approximately $200,000. Municipal Employees Retirement System of Michigan raised its stake in Standex Int'l Corp. by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 2,840 shares of the company’s stock worth $264,000 after buying an additional 50 shares during the last quarter. Bank of Montreal Can raised its stake in Standex Int'l Corp. by 401.3% in the third quarter. Bank of Montreal Can now owns 2,983 shares of the company’s stock worth $278,000 after buying an additional 2,388 shares during the last quarter. Finally, Summit Global Investments bought a new stake in Standex Int'l Corp. during the fourth quarter worth approximately $413,000. Institutional investors and hedge funds own 88.81% of the company’s stock.
About Standex Int'l Corp.
Standex International Corporation is a diversified manufacturing company. The Company is a manufacturer of a range of products and services for diverse commercial and industrial market segments. The Company has 11 operating segments, aggregated and organized into five segments: Food Service Equipment, Engraving, Engineering Technologies, Electronics and Hydraulics.
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