IDEX Corporation (NYSE:IEX – Get Free Report) announced a quarterly dividend on Wednesday, November 11th. Shareholders of record on Wednesday, January 13th will be given a dividend of $0.73 per share by the industrial products company on Wednesday, January 27th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, January 13th.
IDEX has raised its dividend by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 16 consecutive years. IDEX has a dividend payout ratio of 32.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect IDEX to earn $9.78 per share next year, which means the company should continue to be able to cover its $2.92 annual dividend with an expected future payout ratio of 29.9%.
IDEX Trading Up 1.3%
IEX opened at $239.93 on Thursday. The company has a fifty day moving average of $230.52 and a 200-day moving average of $217.53. IDEX has a twelve month low of $160.60 and a twelve month high of $243.80. The company has a quick ratio of 1.95, a current ratio of 2.78 and a debt-to-equity ratio of 0.44. The stock has a market cap of $17.62 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 2.65 and a beta of 0.95.
IDEX (NYSE:IEX – Get Free Report) last released its earnings results on Wednesday, October 28th. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.09. IDEX had a net margin of 14.65% and a return on equity of 16.18%. The company had revenue of $951.70 million for the quarter, compared to the consensus estimate of $934.36 million. During the same quarter in the previous year, the company earned $2.03 EPS. IDEX’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts predict that IDEX will post 8.95 EPS for the current year.
Institutional Investors Weigh In On IDEX
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of IDEX in the 2nd quarter worth $1,301,393,000. Primecap Management Co. CA bought a new position in shares of IDEX during the second quarter valued at $748,951,000. Amundi boosted its position in shares of IDEX by 19.6% during the second quarter. Amundi now owns 1,458,979 shares of the industrial products company’s stock valued at $331,017,000 after buying an additional 239,579 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in shares of IDEX by 101.4% during the second quarter. Alyeska Investment Group L.P. now owns 1,042,703 shares of the industrial products company’s stock valued at $236,641,000 after buying an additional 525,048 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of IDEX by 215.0% during the first quarter. Bank of America Corp DE now owns 1,094,101 shares of the industrial products company’s stock valued at $207,387,000 after buying an additional 746,732 shares during the last quarter. 97.96% of the stock is owned by institutional investors.
IDEX Company Profile
IDEX Corporation is a diversified manufacturer of engineered products and technologies used in industrial, life sciences, fire and safety, and other specialized markets. Its offerings include pumps, valves, flow meters and dispensing equipment, as well as components and instruments used in fluidics, medical technology and scientific applications. The company also supplies fire and rescue equipment, including tools and water-handling products. IDEX serves customers around the world through its operating businesses, which sell products for applications ranging from manufacturing and energy to healthcare and emergency response.
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