Standex International Co. (NYSE:SXI) Plans Dividend Increase – $0.32 Per Share

Standex International Co. (NYSE:SXI) declared a quarterly dividend on Thursday, October 24th, RTT News reports. Shareholders of record on Friday, November 8th will be paid a dividend of 0.32 per share by the industrial products company on Friday, November 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from Standex International’s previous quarterly dividend of $0.30.

Standex International has raised its dividend by an average of 8.2% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Standex International has a dividend payout ratio of 16.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Standex International to earn $8.80 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 14.5%.

Standex International Price Performance

SXI opened at $205.65 on Thursday. The firm has a market capitalization of $2.48 billion, a PE ratio of 33.71, a P/E/G ratio of 2.65 and a beta of 1.03. Standex International has a 52 week low of $130.04 and a 52 week high of $210.14. The company has a fifty day moving average price of $177.78 and a two-hundred day moving average price of $173.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.55.

Standex International (NYSE:SXI) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.71 EPS 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 net margin of 10.26% and a return on equity of 13.18%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.74 earnings per share. As a group, analysts anticipate that Standex International will post 7.63 earnings per share for the current year.

Insiders Place Their Bets

In other Standex International news, CFO Ademir Sarcevic sold 3,800 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $181.64, for a total transaction of $690,232.00. Following the transaction, the chief financial officer now owns 19,686 shares in the company, valued at $3,575,765.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SXI. DA Davidson raised their price objective on shares of Standex International from $203.00 to $211.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Benchmark lifted their price target on shares of Standex International from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com raised Standex International from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $220.00 price target on shares of Standex International in a research report on Wednesday, October 30th.

About Standex International

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.