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

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

Standex International Trading Down 1.9 %

NYSE SXI traded down $1.81 during trading on Friday, hitting $95.80. The company had a trading volume of 50,268 shares, compared to its average volume of 48,332. The company’s fifty day moving average is $88.92 and its 200-day moving average is $96.59. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.03 and a beta of 1.15. The company has a current ratio of 2.90, a quick ratio of 2.16 and a debt-to-equity ratio of 0.38. Standex International has a one year low of $79.02 and a one year high of $121.44.

Standex International Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.09%. Standex International’s dividend payout ratio is currently 20.39%.

Insider Activity

In other Standex International news, CFO Ademir Sarcevic sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $91.84, for a total value of $110,208.00. Following the completion of the sale, the chief financial officer now directly owns 14,048 shares in the company, valued at $1,290,168.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.87% of the company’s stock.

Hedge Funds Weigh In On Standex International

A number of institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Standex International in the 1st quarter worth about $69,000. Advisors Asset Management Inc. grew its holdings in Standex International by 136.8% in the first 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 during the period. Atria Wealth Solutions Inc. bought a new position in shares of Standex International during the first quarter valued at approximately $262,000. Hsbc Holdings PLC lifted its holdings in shares of Standex International by 57.2% during the first quarter. Hsbc Holdings PLC now owns 3,865 shares of the industrial products company’s stock valued at $392,000 after purchasing an additional 1,406 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Standex International in the 1st quarter worth approximately $392,000. Institutional investors own 88.39% of the company’s stock.

Standex International declared that its Board of Directors has initiated a share buyback plan on Thursday, May 5th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 8.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

SXI has been the topic of a number of recent research reports. Barrington Research raised their price objective on Standex International from $139.00 to $143.00 in a research note on Friday, May 6th. William Blair raised Standex International from a “market perform” rating to an “outperform” rating in a research note on Monday, May 9th.

Standex International Company Profile

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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.

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Earnings History for Standex International (NYSE:SXI)

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