Standex International (NYSE:SXI) Price Target Raised to $224.00

Standex International (NYSE:SXI) had its price target lifted by DA Davidson from $222.00 to $224.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other brokerages have also recently issued reports on SXI. StockNews.com cut shares of Standex International from a “buy” rating to a “hold” rating in a report on Monday. Barrington Research reissued an “outperform” rating and set a $220.00 price objective on shares of Standex International in a research report on Monday. Finally, Benchmark raised their price objective on shares of Standex International from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th.

Standex International Trading Up 2.0 %

Shares of NYSE:SXI opened at $191.79 on Tuesday. Standex International has a 52 week low of $147.12 and a 52 week high of $212.65. The company’s 50 day moving average is $193.45 and its two-hundred day moving average is $185.59. The company has a current ratio of 3.55, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The company has a market cap of $2.32 billion, a PE ratio of 41.88, a P/E/G ratio of 2.59 and a beta of 1.06.

Standex International (NYSE:SXI) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.23. Standex International had a net margin of 7.59% and a return on equity of 13.40%. Equities analysts predict that Standex International will post 7.84 earnings per share for the current fiscal year.

Standex International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, February 14th. Standex International’s dividend payout ratio (DPR) is 27.95%.

Insider Activity at Standex International

In other Standex International news, Director Thomas J. Hansen sold 1,661 shares of Standex International stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.41, for a total transaction of $349,491.01. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ademir Sarcevic sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $199.81, for a total transaction of $319,696.00. Following the completion of the transaction, the chief financial officer now directly owns 18,086 shares of the company’s stock, valued at approximately $3,613,763.66. This represents a 8.13 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Standex International

A number of institutional investors have recently modified their holdings of SXI. Bank of Montreal Can grew its holdings in Standex International by 121.3% in the second quarter. Bank of Montreal Can now owns 3,430 shares of the industrial products company’s stock valued at $566,000 after purchasing an additional 1,880 shares during the period. Millennium Management LLC purchased a new stake in Standex International during the second quarter worth approximately $4,299,000. The Manufacturers Life Insurance Company lifted its position in shares of Standex International by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 6,471 shares of the industrial products company’s stock worth $1,043,000 after purchasing an additional 180 shares in the last quarter. Truist Financial Corp lifted its position in shares of Standex International by 22.8% during the second quarter. Truist Financial Corp now owns 4,365 shares of the industrial products company’s stock worth $703,000 after purchasing an additional 810 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Standex International by 93.5% during the third quarter. GAMMA Investing LLC now owns 149 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 90.35% of the company’s stock.

Standex International Company Profile

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.