IDEX Co. (NYSE:IEX) to Issue Quarterly Dividend of $0.69

IDEX Co. (NYSE:IEX) declared a quarterly dividend on Wednesday, September 18th, NASDAQ reports. Stockholders of record on Friday, October 11th will be given a dividend of 0.69 per share by the industrial products company on Friday, October 25th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Friday, October 11th.

IDEX has raised its dividend payment by an average of 8.0% annually over the last three years and has increased its dividend annually for the last 15 consecutive years. IDEX has a dividend payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect IDEX to earn $8.58 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 32.2%.

IDEX Stock Up 2.4 %

Shares of NYSE:IEX traded up $4.90 during midday trading on Thursday, reaching $210.50. The company had a trading volume of 509,259 shares, compared to its average volume of 446,544. IDEX has a 1-year low of $183.76 and a 1-year high of $246.36. The stock has a market cap of $15.93 billion, a PE ratio of 27.63, a P/E/G ratio of 2.09 and a beta of 0.95. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average price is $200.80 and its 200 day moving average price is $214.02.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.02. The firm had revenue of $807.20 million for the quarter, compared to analyst estimates of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.18 EPS. Research analysts forecast that IDEX will post 7.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Oppenheimer decreased their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. TD Cowen reduced their price target on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus dropped their price objective on IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Robert W. Baird cut their price objective on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, DA Davidson decreased their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $233.50.

About IDEX

IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.