Standex International (NYSE:SXI) Price Target Raised to $250.00 at Benchmark

Standex International (NYSE:SXI) had its target price hoisted by Benchmark from $210.00 to $250.00 in a research report report published on Wednesday morning, Benzinga reports. Benchmark currently has a buy rating on the industrial products company’s stock.

Several other research analysts also recently issued reports on the stock. StockNews.com upgraded shares of Standex International from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. DA Davidson upped their price objective on Standex International from $203.00 to $211.00 and gave the company a “buy” rating in a research report on Monday, August 5th.

Standex International Stock Down 2.1 %

SXI stock opened at $180.08 on Wednesday. The business has a 50 day moving average of $176.76 and a 200 day moving average of $172.61. The firm has a market cap of $2.14 billion, a PE ratio of 29.52, a price-to-earnings-growth ratio of 2.67 and a beta of 1.03. Standex International has a twelve month low of $130.04 and a twelve month high of $191.18. The company has a quick ratio of 2.69, a current ratio of 3.55 and a debt-to-equity ratio of 0.23.

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, beating the consensus estimate of $1.66 by $0.05. The firm had revenue of $170.50 million during the quarter, compared to the consensus estimate of $178.94 million. Standex International had a return on equity of 13.18% and a net margin of 10.26%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the company earned $1.74 earnings per share. On average, research analysts forecast that Standex International will post 7.65 EPS for the current fiscal year.

Standex International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, November 8th. This is an increase from Standex International’s previous quarterly dividend of $0.30. Standex International’s dividend payout ratio (DPR) is presently 20.98%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Lord Abbett & CO. LLC bought a new stake in Standex International in the 1st quarter worth approximately $4,647,000. Harbor Capital Advisors Inc. increased its position in Standex International by 292.6% during the second quarter. Harbor Capital Advisors Inc. now owns 5,233 shares of the industrial products company’s stock valued at $843,000 after acquiring an additional 3,900 shares during the last quarter. Boston Partners bought a new position in Standex International in the first quarter valued at about $691,000. SG Americas Securities LLC bought a new position in Standex International in the second quarter valued at about $743,000. Finally, Envestnet Asset Management Inc. boosted its position in Standex International by 5.1% in the second quarter. Envestnet Asset Management Inc. now owns 98,671 shares of the industrial products company’s stock worth $15,901,000 after purchasing an additional 4,768 shares during the last quarter. 90.35% of the stock is owned by hedge funds and other institutional investors.

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.