IDEX Co. (NYSE:IEX) declared a quarterly dividend on Thursday, December 6th, RTT News reports. Stockholders of record on Tuesday, January 15th will be given a dividend of 0.43 per share by the industrial products company on Wednesday, January 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.27%.
IDEX has raised its dividend payment by an average of 10.7% annually over the last three years and has raised its dividend every year for the last 8 years. IDEX has a payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect IDEX to earn $5.77 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 29.8%.
Shares of NYSE:IEX traded up $0.55 on Thursday, reaching $135.04. 409,381 shares of the company were exchanged, compared to its average volume of 328,330. The company has a quick ratio of 2.41, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. IDEX has a 1-year low of $123.47 and a 1-year high of $157.84. The stock has a market cap of $10.32 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33.
IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.10. IDEX had a net margin of 16.54% and a return on equity of 20.40%. The business had revenue of $623.00 million for the quarter, compared to analysts’ expectations of $613.94 million. During the same period in the prior year, the company posted $1.08 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts anticipate that IDEX will post 5.36 earnings per share for the current year.
IEX has been the topic of a number of research reports. Zacks Investment Research raised shares of IDEX from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a research note on Friday, November 16th. Boenning Scattergood initiated coverage on shares of IDEX in a research note on Thursday, October 11th. They issued a “neutral” rating on the stock. Stifel Nicolaus increased their price objective on shares of IDEX from $149.00 to $150.00 and gave the company a “hold” rating in a research note on Monday, October 8th. UBS Group set a $142.00 price objective on shares of IDEX and gave the company a “hold” rating in a research note on Friday, October 26th. Finally, Janney Montgomery Scott raised shares of IDEX from a “neutral” rating to a “buy” rating and set a $149.00 price objective on the stock in a research note on Thursday, October 25th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. IDEX presently has a consensus rating of “Hold” and a consensus price target of $146.00.
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IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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