Thomas J. Hansen, a director at Standex International Corp (NYSE:SXI), recently sold 1,661 shares of the company's common stock. The shares were sold at a weighted average price of $210.4148, amounting to a total transaction value of approximately $349,498. Following this sale, Hansen holds 11,431.254 shares directly. The sale was executed on November 11, 2024, with the shares sold at prices ranging from $209.370 to $211.895.
In other recent news, Standex International Corporation reported a 7.7% decline in sales for the fiscal first quarter of 2025, accompanied by a record gross margin above 40% and operating margin near 16%. The company has announced the acquisition of Amran Instrument Transformers and Narayan Powertech, a move expected to be immediately accretive to various financial metrics and increase exposure to fast-growth markets. Standex's total revenue for the fiscal first quarter was $170.5 million, with an organic decline of 11.4%, and adjusted earnings per share slightly decreased to $1.71.
Standex anticipates improved revenue in the second quarter due to the acquisition and stabilizing market demand. The company also plans to release new products across all business lines in fiscal year 2025, targeting a net leverage ratio below 1 within 24 months post-acquisition. Standex expects the Amran/Narayan Group to generate approximately $100 million in revenue in 2024, with an adjusted EBITDA margin exceeding 40%.
The Electronics segment, now the largest for Standex, is projected to see mid to high single-digit organic growth in the third and fourth quarters. Despite a 4.8% decline in revenue, the company's Electronics segment has a strong order rate with $75 million in orders, the highest in over a year. Standex maintains a strong liquidity position, with $164.6 million in cash and a declared quarterly dividend of $0.32 per share. These are among the recent developments that could influence investor decisions.
InvestingPro Insights
In light of Thomas J. Hansen's recent stock sale, it's worth examining some key financial metrics and insights for Standex International Corp (NYSE:SXI). According to InvestingPro data, SXI's market capitalization stands at $2.5 billion, with a P/E ratio of 34.29, indicating that the stock is trading at a premium compared to its earnings.
One notable InvestingPro Tip highlights that SXI has raised its dividend for 14 consecutive years, demonstrating a strong commitment to shareholder returns. This is particularly relevant given the director's recent share sale, as it suggests the company's financial stability and long-term growth prospects remain intact.
Another InvestingPro Tip points out that SXI is trading near its 52-week high, which aligns with the timing of Hansen's stock sale. The company's stock has shown impressive performance, with a 57.34% total return over the past year and a 33.98% return year-to-date.
It's worth noting that InvestingPro offers 13 additional tips for SXI, providing investors with a comprehensive analysis of the company's financial health and market position. These insights can be particularly valuable when interpreting insider transactions such as Hansen's recent sale.
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