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

Standex International Co. (NYSE:SXI - Get Free Report) announced a quarterly dividend on Thursday, October 24th, RTT News reports. Shareholders of record on Friday, November 8th will be given a dividend of 0.32 per share by the industrial products company on Friday, November 22nd. This represents a $1.28 annualized dividend and a yield of 0.72%. This is a positive change 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 every year for the last 13 years. Standex International has a payout ratio of 15.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Standex International to earn $8.53 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 14.1%.

Standex International Trading Up 2.9 %

SXI stock traded up $5.07 during midday trading on Thursday, hitting $177.55. The stock had a trading volume of 62,148 shares, compared to its average volume of 57,061. The firm has a market cap of $2.11 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 2.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.37 and a quick ratio of 2.69. Standex International has a 12-month low of $130.04 and a 12-month high of $191.18. The company's 50-day moving average price is $175.54 and its 200 day moving average price is $172.19.

Standex International (NYSE:SXI - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.04. Standex International had a net margin of 10.14% and a return on equity of 13.60%. The company had revenue of $180.19 million during the quarter, compared to analysts' expectations of $181.35 million. During the same period in the previous year, the company earned $1.76 EPS. The business's quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts predict that Standex International will post 7.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on SXI. StockNews.com raised 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 target on shares of Standex International from $203.00 to $211.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Finally, Benchmark reiterated a "buy" rating and issued a $210.00 price target on shares of Standex International in a report on Friday, August 2nd.

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.