Standex International (NYSE:SXI) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Standex International (NYSE:SXIGet Rating) announced its earnings results on Thursday. The industrial products company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.47 by $0.07, reports. The business had revenue of $184.74 million during the quarter, compared to the consensus estimate of $182.35 million. Standex International had a net margin of 8.54% and a return on equity of 13.46%. Standex International’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.40 EPS.

Standex International Price Performance

Shares of Standex International stock traded down $1.81 on Friday, reaching $95.80. 50,268 shares of the stock were exchanged, compared to its average volume of 48,332. The firm’s 50 day moving average is $88.93 and its 200-day moving average is $96.51. Standex International has a one year low of $79.02 and a one year high of $121.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.16 and a current ratio of 2.90. The firm has a market cap of $1.16 billion, a PE ratio of 18.78, a P/E/G ratio of 1.03 and a beta of 1.15.

Standex International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Wednesday, August 10th. Standex International’s dividend payout ratio (DPR) is presently 20.39%.

Standex International announced that its Board of Directors has authorized a share buyback program on Thursday, May 5th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SXI. Barrington Research boosted their price objective on shares of Standex International from $139.00 to $143.00 in a report on Friday, May 6th. William Blair raised shares of Standex International from a “market perform” rating to an “outperform” rating in a report on Monday, May 9th.

Insider Transactions at Standex International

In other news, CFO Ademir Sarcevic sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $91.84, for a total transaction of $110,208.00. Following the completion of the sale, the chief financial officer now owns 14,048 shares of the company’s stock, valued at approximately $1,290,168.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.87% of the stock is currently owned by insiders.

Institutional Trading of Standex International

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in Standex International during the 1st quarter worth approximately $69,000. Advisors Asset Management Inc. increased its position in Standex International by 136.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,378 shares of the industrial products company’s stock worth $138,000 after purchasing an additional 796 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in Standex International during the 1st quarter worth approximately $262,000. Dynamic Technology Lab Private Ltd acquired a new position in Standex International during the 1st quarter worth approximately $392,000. Finally, Hsbc Holdings PLC increased its position in Standex International by 57.2% during the 1st quarter. Hsbc Holdings PLC now owns 3,865 shares of the industrial products company’s stock worth $392,000 after purchasing an additional 1,406 shares in the last quarter. Institutional investors own 88.39% of the company’s stock.

About Standex International

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Standex International Corporation, together with subsidiaries, manufactures and sells various products and services for commercial and industrial markets in the United States and internationally. The company operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.

Further Reading

Earnings History for Standex International (NYSE:SXI)

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