IDEX Co. (NYSE:IEX) announced a quarterly dividend on Thursday, September 13th, RTT News reports. Investors of record on Tuesday, October 16th will be paid a dividend of 0.43 per share by the industrial products company on Wednesday, October 31st. This represents a $1.72 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Monday, October 15th.
IDEX has increased its dividend by an average of 10.7% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. IDEX has a payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect IDEX to earn $5.73 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 30.0%.
Get IDEX alerts:Shares of NYSE:IEX opened at $136.49 on Friday. The company has a market cap of $11.55 billion, a P/E ratio of 31.67, a P/E/G ratio of 2.57 and a beta of 1.20. IDEX has a 1 year low of $120.93 and a 1 year high of $157.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.39 and a current ratio of 3.21.
IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, July 24th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.09. The business had revenue of $634.40 million for the quarter, compared to the consensus estimate of $623.10 million. IDEX had a return on equity of 19.71% and a net margin of 15.94%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 earnings per share. On average, analysts anticipate that IDEX will post 5.32 EPS for the current fiscal year.
IEX has been the topic of a number of analyst reports. Zacks Investment Research raised IDEX from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Monday, August 20th. Royal Bank of Canada reissued a “hold” rating and set a $144.00 price target on shares of IDEX in a research report on Friday, July 13th. Stifel Nicolaus increased their price target on IDEX from $140.00 to $149.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. Cowen reissued a “hold” rating and set a $130.00 price target on shares of IDEX in a research report on Tuesday, July 24th. Finally, BMO Capital Markets reissued a “hold” rating and set a $150.00 price target on shares of IDEX in a research report on Thursday, July 26th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $148.20.
In other IDEX news, Chairman Andrew K. Silvernail sold 94,045 shares of the firm’s stock in a transaction on Wednesday, July 25th. The stock was sold at an average price of $145.00, for a total value of $13,636,525.00. Following the sale, the chairman now owns 149,451 shares of the company’s stock, valued at approximately $21,670,395. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Eric D. Ashleman sold 19,788 shares of the firm’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $149.24, for a total value of $2,953,161.12. Following the completion of the sale, the chief operating officer now directly owns 36,885 shares in the company, valued at approximately $5,504,717.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,858 shares of company stock worth $20,573,870. Company insiders own 1.20% of the company’s stock.
About IDEX
IDEX Corporation, through its subsidiaries, provides various pumps, valves, flow meters, other fluidics systems and components, and engineered products worldwide. Its Fluid & Metering Technologies segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, other fluid-handling pump modules and systems, and specialty valve products, as well as offers flow monitoring and other services for food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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