Standex International shareholders elect directors and approve auditor at annual meeting

On Tuesday, Standex International Corporation held its annual meeting of stockholders, with key decisions being made by shareholders. The company, a $2.92 billion industrial manufacturer, announced the re-election of three directors for three-year terms. Charles H. Cannon, Jr. secured 9,241,562 votes in favor, David Dunbar received 10,650,617 votes, and Michael A. Hickey garnered 10,522,191 votes.

Additionally, shareholders approved the appointment of Deloitte & Touche, LLP as the independent public accountants for the fiscal year ending June 30, 2027. This received strong support with 11,193,183 votes in favor, against 16,870 against votes. The meeting saw 11,255,465 shares of common stock represented. Standex's fiscal fourth-quarter 2026 results exceeded expectations, with adjusted earnings of $2.45 per share and revenue of $228.25 million.

This led to an increase in price target from $323 to $350 by DA Davidson, maintaining a Buy rating. Despite JPMorgan's Neutral rating and lower price target of $320, citing cyclical exposure, the overall outlook for Standex International appears positive, with growth anticipated in electronics, aerospace, and grid infrastructure sectors.